Commercial Credit posts Rs 1.2b PBT

Commercial Credit PLC recorded a growth of 320 percent in Profit-before-Tax from Rs. 0.3b in the financial year 2010/2011 to Rs. 1.2b during the financial year 2011/2012.

The Net Interest Income claimed a growth of 153 percent in the financial year under consideration from Rs. 0.7b in the financial year 2010/2011 to Rs. 1.8b.

The growth in Profit-after-Tax stood at 1,259 percent from Rs. 60m in the preceding financial year to Rs. 816.5m.

Commercial Credit PLC's Asset Base increased by 97percent. It also enjoyed a growth in the Fixed Deposit Base amounting to 76 percent taking the figure to Rs. 6.8b from Rs 3.8b in the financial year 2010/2011.

Equity investors of Commercial Credit PLC enjoyed an impressive figure of earnings per share amounting to Rs.3.74 compared to Rs. 0.28 in the preceding financial year.

Commercial Credit PLC enjoys the increasing trust of the public of Sri Lanka and this is demonstrated by the remarkable growth in the Fixed Deposit Base amounting to 76 percent that stands at Rs. 6.8b at the end March 2012.

CEO of Commercial Credit, Roshan Egodage said, "Undertaking broad strategic investments in IT infrastructure and enriching our culture through means such as Value Day and Family Days, we justify our vision of being a company admired for its people, partnership and performance.

The timely execution of the three year corporate plan titled 'Winning Strategies - A new Era of Excellence and Team Work' under the guidance of international strategic consultants, MTI Consultants coupled with the increased focus on customer development will strengthen the competitive strategic position of Commercial Credit in the local finance industry".