"Nevertheless, The Finance Co. PLC is today among the top five finance companies in the country in terms of its asset base, and is fulfilling its obligations satisfactorily in accordance with the restructuring plan and the conditions imposed by the Central Bank of Sri Lanka," the CB said in its statement.
It further noted that the Department of Supervision of Non-Bank Financial Institutions (DSNBI) of the Central Bank of Sri Lanka continuously supervises and monitors all licensed finance companies and specialized leasing companies licensed by the Monetary Board.
"The Finance Co. PLC is currently implementing a restructuring plan approved by the Monetary Board, and according to such plan, from April 2011 to April 2012, it has been able to increase its total deposits by 5.36% and its total lending portfolio by 11%.
Further, the company is now embarking on a path towards profitability, after a period of rather steep losses reported before the restructuring," the statement further added.
http://www.nation.lk/edition/biz-news/item/6565-central-bank-bats-for-tfc.html