Nation Lanka Finance shows promising results in Q1

Nation Lanka Finance has shown promising results in Q1 of 2015/2016, with the company recording a profit after tax (PAT) of Rs. 38 million. The company is on track to achieve its revenue targets for 2015, and will hereafter focus primarily on solidifying its position as a dynamic financial services provider and responsible corporate citizen.

At the end of 2014/2015, Nation Lanka Finance recorded total assets valued at Rs. 7 billion, indicating an asset growth of 52%. The company also increased its deposit base by 48% to 5.5 billion and recorded a turnover of Rs. 1.15 billion. In Q1 of the current financial year, the Nawaloka Group acquired a 25% majority stake of Nation Lanka Finance and is now leading the company towards a new era of growth and success. Following the change in management, Nation Lanka Finance has embarked on a strategic turnaround which has already yielded impressive results as shown by the company's performance in Q1 of 2015/2016.

Chairman, Nation Lanka Finance, Jayantha Dharmadasa said, "Nation Lanka Finance has now laid the foundation to accomplish our overall goal of progressively growing the wealth of our nation and its people. With the backing of the Nawaloka Group, which brings with it decades of strength and stability, and under the management of our new CEO, Jayantha Perera, I believe that Nation Lanka Finance will overcome all challenges and strategically grow and strengthen its product and service offering."

CEO, Nation Lanka Finance, Jayantha Perera said, "I am pleased to report robust growth in Q1 of 2015/2016, and I believe that these results have set the precedent for a fruitful and profitable year for Nation Lanka Finance."

"As part of our new turnaround, we will be focusing on becoming an exemplary corporate citizen, and will pay special attention to delivering good governance, compliance and a continued adherence to the highest standards and mandatory regulations set by the Central Bank," he said.