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Sunday, 23 August 2015

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Capital Alliance maintains growth momentum

Capital Alliance Limited (CALT), the primary dealership arm of Sri Lanka's leading full service investment bank (CAL) recently recorded an impressive profit after tax (PAT) of Rs. 531 million for the financial year ending 31March 2015. A continued focus on developing strong partnerships and an effective research unit, combined with a renewed effort to drive synergies throughout the group, have helped CALT to maintain a well-balanced momentum of growth despite rapidly changing market conditions.

The company recorded an increase in profits of 60% over the previous financial year. CALT's net interest income was recorded at Rs. 150.4 million and capital gains doubled over the previous year to Rs. 591million.

There was also a significant growth in other income channels, which contributed Rs.30.2 million to overall income from operating activities.

The company's superior Return on Assets of 8% and a Return on Equity of 43% showcases the success of the management's dual focus on expanding the company's fee based business and market making activities. CALT also continued to dominate the listed debenture space by obtaining over 50% market share in secondary market trading. This is due to a concerted effort to make a market in several bluechip debt securities. As at 31 March 2015, the company's total assets were valued at Rs. 6.64 billion.

Chief Executive Officer, CALT, Gihan Hemachandra said, "The CALT team has managed to maintain well-balanced growth over the course of this financial year. Market conditions varied drastically over the last few months, making the operating environment immensely challenging for us. We first observed a change in the markets in October 2014, and noted an upward pressure on interest rates and a shift in other economic variables. Responding proactively to these trends, we adopted a 'risk-off' strategy, which held us in good stead and enabled us ride off the volatility with little concern."

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