Orient Finance rises above challenges to deliver strong results
Posting a steady performance, Orient Finance PLC, a member of the Janashakthi Group and a leading financial service provider, recorded a 27% increase in the company’s turnover with LKR 809.8 Mn for the first quarter of the financial year 2022-23. […]
Posting a steady performance, Orient Finance PLC, a member of the Janashakthi Group and a leading financial service provider, recorded a 27% increase in the company’s turnover with LKR 809.8 Mn for the first quarter of the financial year 2022-23. Indicating a growth of 11% in comparison to the corresponding period in the previous financial year, the company recorded a profit before tax of LKR 66.4 Mn for the period under review.
Furthermore, illustrating the Company’s stability, Orient Finance PLC recorded a total capital adequacy ratio (CAR) of 15.94% as at 30th June 2022 which surpasses the required total capital adequacy ratio of 14% stipulated by the Central Bank of Sri Lanka for the well-capitalised category with assets less than Rs. 100 Bn. As such, the company continues to meet the required regulations and is categorized as a well-capitalised Company in line with the guidelines of Central Bank of Sri Lanka.
“Orient Finance has upheld its commitment to its stakeholders to maintain a steady course while driving a sustainable performance. Our team consistently strived to deliver and ensure that the needs of our customers are met. This was not an easy task, yet we succeeded and achieved sustained growth, in the interest of all our stakeholders. As we continue to navigate the evolving challenges, our advantageous position as a member of Janashakthi Group will strengthen our ability to continue our growth momentum”, said Rajendra Theagarajah, Chairman of Orient Finance PLC.
“With an insight driven strategy to create value for all stakeholders, we crafted our strategy to meet the current demand with innovative and timely financial solutions. We will continue to navigate the current challenging economic environment with market insights and dedicated customer care. Additionally, we are proud to have a strong CAR ratio as this demonstrates our ability to withstand the changes in the external environment and deliver excellence to our customers consistently”, said K. M. M. Jabir, Director and Chief Executive Officer of Orient Finance PLC.
Over the course of 41 years, Orient Finance PLC has positioned itself as an innovative, customer-centric financial service provider, offering timely product offerings coupled with dedicated customer service. Focused on providing win-win solutions to all customers for a long-term mutual gain, Orient Finance will continue to step up and lead the nation’s recovery by facilitating financial well-being. The new strategic focus and initiatives have already begun to propel Orient Finance towards sustainable growth in this exciting era of growth and excellence.
About Orient Finance PLC:
Incorporated in 1981, Orient Finance has carved a name for itself as an eclectic facilitator of cutting-edge financial solutions to a diverse and growing clientele. With 31 branches representing 31,000 deposit holders and 10,000 lending customers across Sri Lanka, the company provides an array of tailored financial services which includes mobilization of Deposits, Savings Accounts, Leasing, Hire Purchase, Pledge Loans, Factoring, Gold Loan, Working Capital, Corporate Financing and more.
The finance company is listed on the Colombo Stock Exchange and the Board comprises Rajendra Theagarajah (Chairman), K.M.M Jabir (Chief Executive Officer), Prakash Schaffter, Minette Perera, Indrani Goonesekera, Sriyan Cooray, Darshana Ratnayake and Nalin Karunaratne.
Orient Finance PLC is a member of the Janashakthi Group that operates in the Insurance, Finance, Investment, and Real Estate sectors.