Abans Finance records best-ever performance in first 9 months surpassing Rs 300 mn

Abans Finance PLC is a member of the Abans Group, in the first nine months of FY 2021/22 recorded Rs. 306 million in Profit After Tax (PAT) and total assets reached close to Rs 10billion.

Further the recorded Profit After tax (PAT) of Rs.306 million in first nine months of FY 2021/22, records a growth of63% from corresponding period of FY2020/21 amidst the aftermath impact from political, economic, social, and legal perspective to business operation from COVID 19 Pandemic. By setting of the company KPI’s in line with its long-term sustainability goals within a framework of balanced scorecard, management team is optimistic on sustainability of its profit momentum and growth in portfolio in the coming years and thus the management is expecting to close the FY 2021 / 2022 with a sustainable material growth in YoY performance.

Through the backing of the Abans Group and the strong management team the company has been able to manage concentration risk by diversifying its lending portfolio into various sectors and geographic areas and was also able to reduce its funding cost and improve collections to develop best-ever performance in first 9 months of any financial year since inception.

Management believes that ultimately, the basis of our success is our Team. Management commented saying that their EAM’ are the ones who serve their customers, build the technology, make the strategic decisions, manage the risks, determine our investments, and drive innovation. Despite the current world’s complexity and the risks and opportunities ahead, management believes having a great team of people who can navigate personally in challenging circumstances while dedicating themselves to professional excellence is what ensures prosperity, now and in the future.