Siyapatha Finance performs successfully despite challenges in the financial environment
Sri Lanka, July 7 -- Mr.Sumith Cumaranatunga - Chairman (Independent / Non-Executive Director) Siyapatha Finance PLC
The 2019 financial year was characterized by a subdued overall economic growth as a result of several challenges faced by the country as well as worldwide. The Non-Banking Financial Institutions (NBFI) sector recorded a negative credit growth that mirrored the macro economic conditions that prevailed at the time.
Regardless of the fragile performance of the sector, Siyapatha Finance recorded a robust asset growth of 13%, coming close to the projection for the year despite the unfavourable circumstances of the time. The company's profit before taxes grew by 7%, whereas the topline saw an increase of 13%, ending the year wi...
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