Commercial factors reach Rs 3 b portfolio

Exceptional performance by the entire value chain at Commercial Factors, the factoring and working capital business arm of Commercial Leasing Company Ltd (CLC), helped the company boost its business performance, branch growth and value of its portfolio.

"It has been a fantastic year for us and achieving a Rs. 3 b portfolio has marked a milestone in the history of Commercial Factors", said Head of Factoring, Commercial Leasing Company Limited (CLC), Muthiah Harieharann.

Commercial Factors showed a growth of 107 percent in the total portfolio from Rs. 1.457 b to Rs. 3 b and income rising 78 percent over the previous year. Mainly generated through new factoring facilities granted to the SME sector, this increase was led by a corresponding growth in branches which grew to 40 in the same period.