LRA maintains Entity Rating of Vallibel Finance
Lanka Rating Agency (LRA) maintains an Entity Rating of Vallibel Finance while improving its outlook to Stable.
Outlook Vallibel Finance PLC a licensed finance company primarily focusing on leases, vehicle loans, auto drafts, and gold loans in Sri Lanka. The rating reflects the Company’s extensive outreach, superior asset quality (VFIN NPLs are well below the industry average) and improving profitability. It is a mid-sized player in the LFC industry with assets comprising -5.2% of the total industry.On the product mix side, auto drafts, vehicle loans and leases make up -73% of the total lending portfolio as at 9MFY24.
The lending portfolio was stagnant in FY23 while it has grown by 4% in 9MFY24. The Company continues to maintain its deposits base with a high retention rate.
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