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Nation Lanka Finance PLC records an impressive growth in the 2018/19 FY outperforming industry expectations.

Nation Lanka Finance PLC recorded an impressive performance for the 2018/19 financial year, attributed to an increase in the lending portfolio and the operating income driven by management strategy changes. Despite several macroeconomic and regulatory setbacks, the company’s growth came on the back of far sighted and timely management strategies to shift its focus to asset backed lending products, streamlining and efficiency improvement of all key processes through technology and thanks to a series of human resource strengthening across the branch network. The Company reported a Rs.167 million profit in the current year recovering from a negative Rs.51 million in 2017/2018 FY, according to the Company’s Annual Report released last week. “Despite challenges, Nation Lanka Finance has maintained a positive sentiment and recorded a reasonable year of performance,” said Mr.Victor Ramanan, Chairman (Non Executive) of Nation Lanka Finance PLC releasing its 2018/2019 annual report at the recent press briefing on the Company’s annual report release. Mr.Ramanan who has been serving the NLF Board since 2011, he is a versatile marketer with 31 years of experience working in UK, Kuwait, Dubai, Bahrain, Germany, France, USA, Sri Lanka and has 18 years of experience in IT, HR and Business Development in the oil and gas, logistics and real estate sectors across the globe. He currently holds the positions of Deputy Chairman at Nawaloka College of Higher Studies (Pvt) Ltd and Millennium Housing Developers PLC, and serves as a Director at Nawaloka Hospitals PLC. Mr.Ramanan added that during the 2018/19 financial year, the Management of Nation Lanka Finance PLC’s main objective has been to align itself with the Central Bank directives and regulatory guidelines, whilst ensuring business continuity and growth to safeguard stakeholder interest. “We are proud to have achieved our objectives and managed to strengthen our business within many strategic areas that would drive the company to greater achievements in the coming years,” Mr.Ramanan said. The lending portfolio of the company was the biggest contributor to its growth, with leasing and hire purchase leading the increased revenue board. In 2018/2019 FY leasing grew by 175 percent, from 569 million rupees last year to 2.3 billion rupees in the year under review. Hire purchases grew by 68 percent, from 113 million rupees last year to 190 million rupees in the current year. The company also benefited from the net interest income of 1.2 billion rupees in 2018/19 FY. The Company’s Patron and outgoing Chairman Deshamanya Jayantha Dharmadasa added that during the last 7 years, Nation Lanka Finance PLC has faced many challenges including macroeconomic, political uncertainties, industry competition and internal impediments and yet came out strong and positive. Mr.Dharmadasa retired in keeping with CBSL guidelines of retirement, upon reaching the ceiling age of serving as Chairman in a finance company. During the financial year that ended, the company also managed to tackle Ceylinco Towers and First Lanka Treasuries that posed some difficulties in divestment due to inherited complexities. While First Lanka Treasuries was disposed of, Ceylinco Towers was rebranded under a new Board with the intention of offering specialized products in specific sectors that are lucrative. “The year was particularly challenging where political uncertainties, exchange rate fluctuations and implementation of SLFRS based provisions as well as market instabilities that affected the overall finance sector performance throughout most of the year and in the final quarter of the year regulatory pressures affected the Company’s overall performance,” said Mr.Jayantha Perera, CEO of Nation Lanka Finance. “It was a tough year. But being able to anticipate the macroeconomic and market challenges, the Management was able to adapt and introduce policies and strategies that steered the risks away from the company. The Company strategy was to provide shareholder returns, curtail overheads and move more into asset backed lending in order to mitigate the impact of the downturn in the economy,” Mr. Perera further said. In 2018/19 many finance companies faced financial hurdles with some closing business due to heavy pressures from regulators and macroeconomic uncertainties which led to investor confidence issues combined with premature uplifting of deposits Last year, Nation Lanka Finance was awarded the “Fastest Growing Leasing Company in Sri Lanka -2018” award and the “Most innovative Leasing Product (Nation OD) in Sri Lanka - 2018” awarded by Global Banking and Finance Review. Nation Lanka Finance strengthened its lending portfolio last year focusing on leasing, pawning and hire purchase. The company also introduced the ‘Nation OD’ leasing product which allows customers to explore more leasing options. With 25 service network points already in operation across Sri Lanka, the company is keen on strengthening its presence in the regions through the branch network and offering their lending products to regional communities. Backed by the rich heritage of 32 years in the industry, NLF has built a strong reputation amongst local communities and is well placed to support them. Nation Lanka Finance is a Licensed Finance Company by the Monetary Board of the Central Bank of Sri Lanka under Finance Business Act No.42 of 2011. Credit rating ICRA (SL) B (Stable).

Nation Lanka Finance PLC Wins Two International Awards at Global Banking & Finance Awards -UK

Nation Lanka Finance PLC excelled by winning two International awards at the Global Banking & Finance Awards –UK. The company won the awards for “Fastest Growing Leasing Company in Sri Lanka 2018” as well as “Most innovative leasing product 2018 (Nation OD)”.

Nation Lanka Finance PLC (NLF) is a Public Limited Liability Company incorporated in Sri Lanka on 15th July 1987. The Company is a Finance Company licensed and regulated by the Central Bank of Sri Lanka with a rich heritage of 31 years and listed in the Colombo stock exchange on 30th June 1994. The company has evolved over the years and as at current financial year; NLF’s Assets exceed Rs.9.7 Billion.

With a Branch network of over 44 locations throughout Sri Lanka, NLF has a variety of products & services - Nations OD, Leasing, Fixed deposits, Savings deposits, Pawning, Business loans, Micro Finance, Hire purchases & Real estate.

Adding Complaint handling Procedure.

Nation Lanka Finance PLC is committed to provide our valued customers an exceptional Customer Service. However, there may be situations that may arise from time to time whereby the customer may feel he/she has been treated unfairly while involving with our product or service. Whatever the nature of the concern may be, we will treat all such complaints professionally.

Complaint handling Hotline 0703-760800

Nation Lanka Finance Wins At CA Annual Report Awards.

Nation Lanka Finance was born as Ceylinco Securities and Finance Ltd in 1987. It was quoted as a PLC in the stock market in 1994. Later on, taking the market performance into consideration, it got re-branded and thus officially come to be known as Nation Lanka Finance in 2009, and again, it received the license from the Central Bank of Sri Lanka in March 2012. There-onwards, Nation Lanka Finance remained as an agent which solicits deposits and facilitates micro finance, pawning and extends mortgage loans and leasing facilities. It currently operates in over 25 locations strategically distributed island wide. An award at the CA Annual Reporting Awards is one of the greatest recognitions any corporate entity strives to achieve. It acknowledges and glorifies those who excel in financial reporting. A good financial report means that the company is performing as per the expectation, and that shines a halo around those who ultimately claim an award bestowed by the CA. The financial year 2018/19 was significant for Nation Lanka Finance, for it won an award for it’s financial report under the Finance Companies and Leasing Companies Total Assets Upto LKR 20 million category. Addressing this grand achievement, Chief Finance Officer Prasanna P. Habaragamuwa stated “We didn't see the need to hire external sources to prepare the documents. The majority of the process was internalized. The printing aspects and concept design were covered by our trusted partner Optima Designs Pvt.Ltd,. Optima Designs has been a great ally for Nation Lanka and Finance for the past 3 years. This achievement could not have happened if not for the support and blessings which we appropriately received from CEO Jayantha Perera, Chairman Victor Ramanan and The Board of Directors. This achievement would not have been possible if not for the freedom that they gave, and the trust they placed on the team’s decision making skills. The highly competent and committed finance team took care of the audit functionalities and financial aspects while GM compliance, Heads of Internal Audit and Human resources were responsible for a worthy contribution and the production process was strategically managed by our Jayendra Dissanayake who is in charge of Branding & Marketing. Overall, this is a collaborated achievement, and everyone played an important role within the endeavor.” Chief Finance Officer Prasanna P. Habaragamuwa claims that the reason for achieving such excellence is due to the fact that Nation Lanka strictly abided to the newly implemented International Financial Reporting Standards regulations and completion of the Annual Report and was able to hold the AGM within the stipulated time. The contribution of Company Secretaries, the Corporate Arcade team is noteworthy to mention. He further added “We stuck to the basics and played to our strengths. If we analyze a few reports of certain institutions, it usually comprise of generic industrial know-how which are mostly borrowed from other source materials. That does not reflect the company’s performance. A corporate should present their performance as it is, and they should find the ideal manner to present it as well. Visual presentation matters, since the readers should be able to understand what is presented and it should also look good while doing so.” The reporting approach taken by Nation Lanka Finance across the years is unique. It has maintained a story-like theme, which is a follow up of the previous year. The 2016/17 theme was ‘Further’, 2017/18 was ‘Growth Ahead’ and the report which won the award for 2018/19 was ‘On Our Way’. At first glance, it seems as if Nation Lanka Finance is attempting to convey a story; the story of how a company starts with an ambition of achieving greatness, while gradually moving forward and thus finally closing in on the fruits of the valor in the near future. That symbolizes the journey of Nation Lanka Finance, and it is fitting that this is worthy of being awarded such a recognition. A mere award does not satisfy Nation Lanka Finance’s thirst for achieving excellence. Both Habaragamuwa and the Chief Operating Officer Suresh Amerasekera revealed their determination to make sure that the brand will upgrade its operational activities while giving the maximum value addition to its stakeholders as well as the society it operates in, as it moves forth to achieving the next great award; a recognition in the overall category. Nation Lanka Finance is fully geared and ready to take up the challenge, and it is a matter of time till that dream becomes a reality. While remaining humble on the achievement, the COO wished to leave fellow industrial peers with a snippet of his professional advice.

The journey maybe tough, but the result is sweetest when it is earned. Report the context as it is, and look for ways to decorate what you feel is lacking. In the end, what is presented reflects the company’s performance, and that is where the future thrives or falls.

Nation Lanka Finance is a Licensed Finance Company by the Monetary Board of the Central Bank of Sri Lanka under Finance Business Act No.42 of 2011.

Credit rating ICRA (SL) - C
Date incorporate - 15th July 1987.
Company Registration No - PQ33
(011) 4 760 800
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