Crossing the One Billion mark in PBT – a fulfilling moment for Senkadagala Finance PLC

Senkadagala Finance PLC announced that it has crossed Rupees one billion milestone in profit before tax and recorded Rs. 1,119 million for the financial year 2016/17 with a growth of 26.8% over the previous year. “Profit after tax for the year improved to Rs. 861 million, a 40.4% growth. Consequently, profitability in terms of ROA and ROE too improved to 3.24% and 25.87% respectively,” the company said.

“The Company has invested in the right technology at the right time while expanding its footprint, maximising convenience to the customers and positioning the Company for sustainable growth. With a core capital adequacy ratio of 16.44% consequent to the successful rights issue of shares in April 2017, the Company has sufficient leeway to expand its business in the years to come,” it went on to say.

According to the company, total assets of the Company crossed the Rs. 30 Bn. Milestone, reaching Rs. 30.919 Billion - a 38.8% growth, and that gross non-performing loans ratio at 1.64% and provision cover at 82.29%, both far superior to the NBFI sector averages, bear testimony to the quality of the asset portfolio as well as to the ‘quality of the profit’.