Page 14 - UBF AR 2018 - E Version
P. 14
“We delivered unsurpassed
value to a diverse customer
base through a suite of
products and services
appropriately designed to
meet their diverse financial
needs.”
Operational Review Suresh Kandiah
Chief Operating Officer
The 2017/18 financial year saw UB Finance once
again making significant strides contrary to the commendable performance for the Company.
economic milieu in the year under review. The Income for the period increased by 27% to LKR
Financial Sector performance slowed down due 2,010 Mn and the total operating income for the
to various reasons such as; low credit growth, period also increased by 10% to Rs. 686 Mn. The
declining profitability along with poor credit net profit for the year 2017/18 was Rs. 72 Mn
quality, a legacy of the prevailing high interest in comparison to Rs. 67 Mn in 2016/17. Interest
rates, inflation and the regulatory directions income generated from our Core business
on Loan-to-Value (LTV) Ratio. Despite the increased by a healthy 36% due to maintaining
prevalent industry conditions, UB Finance stable product yields and portfolio growth. Also
continued to grow through the dedication during the period the deposit base increased
and hard work of employees, the continued from Rs. 6,063 Mn to Rs. 7, 237 Mn being a 19%
trust and confidence of customers and the increase, highlighting the confidence placed
leadership and strategic direction provided by by depositors in the Company. Gross loans and
the Directors and management resulting in a receivables from customers grew by 11% and
the total Net Assets increased by 45%.
NET ASSETS
1,500
LKR Mn 1,181
1,000 628 725 816
500
524 617
393
2012 2013 2014 2015 2016 2017 2018
12 UB Finance
