Commercial Credit in-branch expansion drive

Commercial Credit PLC, a registered finance Company under the Central Bank of Sri Lanka recently opened a branch at Mangala Road, Gampaha increasing the network to 22.

Commercial Credit's Chairperson, Ms. Vagdevi Fernando, CEO Roshan Egodage and Working Director Ms. Geya Egodage were present. Commercial Credit PLC also opened new branches at High Level Road, Nugegoda and New Galle Road, Moratuwa.

Chairperson, Ms. Vagdevi Fernando said, "After Kandy, Nuwara Eliya and Badulla, we're happy to expand our presence in the Western province. This will now enable us to extend the same superior levels of service and customer relationship enjoyed by our customers across the country".

We are now geared to serve the people of Gampaha, Moratuwa and Nugegoda, and adjoining areas with a wide portfolio of products and services.

Operating an asset base of Rs. 1.5 billion at the time of takeover, the company's current asset base stands at Rs. 6.8 billion.

From a loss making year in 2009 Commercial Credit delivered a profit (before tax) of a staggering Rs. 325 million at the end of the financial year 2010/2011, which is an unprecedented growth.