In a recent comprehensive financial analysis carried out by K Seeds Investments (Pvt) Ltd, Siyapatha Finance PLC was ranked the “Best Performing Finance Company” in Category 2 among 32 licensed finance companies for the quarter ended 30th June,2024.
Classified under the Second Category among four main categories, which enumerates listed financial companies with an asset base between Rs.50 billion and Rs.100 billion, Siyapatha recorded a Net Profit Margin of 9.34%. The company saw a Net Profit Growth of 372.05% in the quarter ended 30th June 2024, compared to the same period of analysis in the previous year.
Siyapatha Finance PLC Managing Director Ananda Seneviratne stated: “We are deeply honoured to be ranked the Best Performing Finance Company in the respective category. Our fundamental focus has always been to become a holistic financial service provider with our customers as well as employees’ best interests at heart. We believe this ranking reinforces our leadership in the financial service sector.”
The 15th issue of the “Ranking of Listed Financial Companies of Sri Lanka” financial results were based on 10 key performance indicators including Cost to Income Ratio, Return on Equity, Return on Assets, Net Profit Margin, Net Interest Margin, Impairment to Loan Book, Credit to Deposit Ratio, Operating Leverage, Net Profit Growth and Loan Growth, analyzing licensed finance companies amidst the volatile economic atmosphere and many changes.
With SMEs being a primary customer base seeking services of finance companies for capital investments and business expansion, people’s economic and financial challenges had a direct impact on demand for their services, where loans and advances portfolio of finance companies significantly contracted, particularly during the third quarter of 2023.
In spite of these challenges, many finance companies were quick to diversify its activities as a measure to stay afloat.
K Seeds Investments offers a wide range of financial advisory services to corporate entities and entrepreneurs across industries to provide vital information that demonstrate the financial strength of companies. –
Siyapatha Finance PLC, the largest fully owned subsidiary of the Sampath Bank Group.