CSFSL moves to new building

CSFSL moved into its own head office building at Havelock Road, Colombo 5, a state-of-the-art 10-storied building with all modern facilities. The company is planning to complete work within two years. The architects are Design Consortium Ltd. After the completion of the building, all the CSFSL subsidiaries will be housed in the premises, providing all capital market service leasing, real estate, property development, lending, stock brokering, money brokering, secretarial and legal services under one roof.

This was a long-felt need for the CSFSL Group. The CSFSL achieved its best ever performance with a profit after tax of Rs. 194.6 million which is a growth of 65.06%, compared to the last financial year. It is considered a creditable achievement considering the downturn trend in the investment banking activities. This was due to the diversification into fund-based activities such as property development and leasing and also due to the contribution from all its subsidiaries. It has moved into the Finance sector, property development and real estate, stock brokering, money brokering and foliage exports with success.

The Group has successfully penetrated into the rural sector by setting up 11 branches to tap the outstation market. Branch network will be expanded to capitalise prospective markets.

CSFSL is to be merged with Asian Finance Ltd., during the coming financial year, which will create one of the largest institutions in the country's financial sector. This will enable both companies to synergise the activities, and will also enhance access to low cost funds and provide greater cost savings.