Founded in 1974 as Rupee Finance, the company which was acquired 10 years ago by the Vallibel Group is today among the top ten licensed finance companies both in deposit (Rs. 17.86 billion) and asset (over Rs. 30 billion) terms.
The company’s chairman, Mr. KVPR de Silva, said in its recently released annual report that the year under review had been remarkable with the company surpassing all its performance expectations.
"The company’s exceptional performance comes in the backdrop of sluggish domestic economic growth which did not dampen the expansion of the financial sector of the economy despite the challenges faced," he said in his chairman’s statement.
Mr. Dhammika Perera is the company’s top shareholder with his Vallibel Investments (Pvt) Ltd. owning 72.87%. His brother, Mr. Anuradha Perera, is the second biggest shareholder (3.27%) and the company’s MD/CEO SB Rangamuwa ranks number four in the shareholder list with 2.12% behind Mr. RFT Perera with 3.01%. Individual shareholders below that individually own less than 1%.
Vallibel Finance with a stated capital of Rs. 287.15 million had total assets of Rs. 30.685 billion and total liabilities of Rs. 28.13 billion. It carried Rs. 1.7 billion retained earnings in its books.
The company’s share closed the year at Rs. 58.50, trading between a high of Rs. 71.60 and a low of Rs. 55.20. This compared with a trading range of Rs. 73 to Rs. 45 closing at Rs. 53.70 the previous year. A dividend of Rs. 2.50 per share was paid for the year.