Orient Finance PLC, a member of the Janashakthi Group, recorded a 27% increase in turnover with Rs. 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 Rs. 66.4 mn.
Orient Finance PLC recorded a total capital adequacy ratio (CAR) of 15.94% as at June 30, 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 categorised as a well-capitalised company in line with the guidelines of the Central Bank of Sri Lanka. “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,” said Director and Chief Executive Officer, Orient Finance, K. M. M. Jabir.
“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,” he said.
The new strategic focus and initiatives have already begun to propel Orient Finance towards sustainable growth in this exciting era of growth and excellence.