Gold Finance

Dec 05, 2011 (LBO) – Sri Lanka’s Edirisinghe Trust Investments (ETI), a registered finance company which is to be listed on the Colombo bourse, said it plans to open more outlets by March 2012 as its gold finance business expands. Sandun Kumarasiri, ETI General Manager Gold Financing and Sales, said their staff not only has the technical knowhow, equipment and skills to accurately assess gold but are also able to assess gem stones.

The company said in a statement it serves 495,000 long standing customers annually through 46 centres across the island, up from 20 branches in 2004. Three of its service centres, located in Colombo operate 24 hours a day. ETI’s gold stocks have now risen to 6.2 billion rupees from 952 million rupees in 2006, a company statement said.

The firm’s gold financing division accounted for 1.7 billion of ETI’s 2.54 billion rupee income for the year 2010/2011, it said.

ETI chief executive Mahendra de Silva said ETI will list about 10 percent of its share capital early next year to broad base ownership and meet regulatory requirements for finance companies.

The firm, which has 46 branches across the island, plans to open two more service centres before the end of March 2012 in north-c