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SLECIC posts highest total net revenue of Rs 1.2 Bn in 2023

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Sri Lanka Export Credit Insurance Corporation (SLECIC) celebrating its 46th anniversary has recorded a historically highest total net revenue of Rs 1.2 billion for the year ended December 31, 2023.

Looking Forward, SLECIC Chairman / Managing Director, Senarath Devendra has commented that they have strategised a road map and drawn a Corporate Plan for the next 5 years.

He is confident that with introduced marketing initiatives, SLECIC has the potential to increase its revenue by at least 50% in the next full year 2024. Further, he mentioned that SLECIC has been encouraging the achievers in exports jointly with Chambers & Associations of Exporters.

Being one of the profitable state-owned enterprises, SLECIC has contributed Rs.500 million to the Treasury as a levy in 2023. This is in addition to taxes of approx. Rs. 250 million for the year, which is a much-needed boost for the economic growth of Sri Lanka.

Despite the downtrend of the USD parity rate and the volumes of exports in 2023, this achievement was creditable. SLECIC will aim to enhance its market coverage by extending its support to the SMEs at the grassroots level by partnering with the Industrial Development Board, where they spread awareness among rural industries & Exporters to empower them at the grassroots level.

During the year it has targeted discerning exporters to mitigate their buyers & country risk. Being the sole export credit insurance agency in Sri Lanka owned by the Government of Sri Lanka, SLECIC has extended its services to credit exporters and indirect exporters to cover their risks as well as to finance their operations by way of pre & post-shipment guarantees.

The post SLECIC posts highest total net revenue of Rs 1.2 Bn in 2023 appeared first on DailyNews.

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