EAP, synonymous with gold
Edirisinghe Trust Investments Ltd. (ETI) is the flagship company of
the EAP Group of Companies. The EAP name has for decades been synonymous
in Sri Lanka with gold and jewellery. The company's expertise in recent
times has also extended to media and entertainment, financing,
technology, import and export, alternative power, real estate and
property development.
ETI began business in the pawning industry over 40 years ago and in
2004 the company diversified its portfolio into areas of Leasing and
Hire Purchase, Real Estate and Housing, Vehicles and Trade Finance and
more recently a venture into Agro Products.
ETI today is one of the fastest growing finance companies in the
Island with an income in excess of Rs. 1 billion. The Company is also
among the top 5 of the 34 registered finance companies.
ETI has managed a remarkable fiscal year ending March 31, 2008,
boasting a 45 per cent increase in gross income and increasing total
assets up to Rs. 7.1 Billion from Rs. 5.4 billion, an impressive
increase of 31.5 per cent.
Even more impressive is the fact that Fitch ratings has upgraded the
Company's national long-term rating from a B+(lka) to a BB-(lka) and
this in fact indicative of ETI's diligence, efficiency and stability.
The rating upgrade takes into account the Company's strong market
position and performance in its core business are a of pawn broking,
where depositors' funds have been invested with over 100% security. ETI
attributes this success to good management practices in compulsive
strategy planning.
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