Lease Growth

May 31, 2010 (LBO) - Sri Lanka's Commercial Leasing Company will raise 700 million rupees through a senior unsecured debenture which has been rated 'A-(lka)' with a 'stable' outlook, Fitch Ratings Lanka said.
buy cymbalta online onlinebuynoprescriptionrx.com/dir/cymbalta.html no prescription

The balance was working capital loans secured by vehicle mortgages (9 percent of advances) and debt factoring (15 percent).

Fitch said loan quality continued to be managed well in the 2010 financial year, with nominal nonperforming loans (NPLs) decreasing by 30 percent from its peak in mid-2009, supported by closer monitoring and aggressive recovery processes.


Despite wider margins and lower provisioning costs, CLC's profitability had declined marginally due to higher operating costs.

CLC's operating costs to average assets increased to 5.

buy lipitor online onlinebuynoprescriptionrx.com/dir/lipitor.html no prescription

6 percent in the 2010 financial year, driven by higher costs allocated by the LOLC head office for various staff and administration expenses.

It has 17 branches and 11 service centers and owns a 40 percent stake in an insurance broking company, Commercial Insurance Brokers, and a 50 percent stake in Diriya Investments Ltd, an equity investment company.

The ratings reflect the expectation that support would be forthcoming from CLC's parent, Lanka

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
Top
0
Would love your thoughts, please comment.x
()
x