NEWS & EVENTS
Corporate Profile


Merchant Bank of Sri Lanka & Finance PLC demonstrated strong resilience in the wake of unprecedented challenges following the merger and it is my pleasant task to present to you, our stakeholders, a review of the Group’s performance for the financial year ended 31st December 2015. Our business strategy focused on four strategic pillars designed to drive portfolio expansion and sustainable value creation to all key stakeholder groups; these strategic objectives were business growth, building optimum customer relationships, nurturing a multi-skilled staff pool and driving our sustainability agenda.

Way Forward


We will continue to focus on driving growth and efficiencies, with emphasis on our strategic priorities. We hope to capitalize on growth opportunities in the North and Eastern region of the country with the addition of around 9 new branches; this will also support our community objective of driving financial inclusion and supporting entrepreneurship. The anticipated implementation of a core banking solution will enhance operational efficiencies, drive productivity improvements and enable better monitoring of the portfolio. Delinquencies stemming from MCSL and MBSL Savings Bank have impinged upon our overall asset quality and in 2016 we hope to aggressively pursue recoveries of these facilities while steps have already been taken to ensure the quality of new loans. The funding and capitalization position will also be strengthened with a debenture issue which will facilitate further credit expansion.

Acknowledgements

I would like to extend my appreciation to the outgoing Chairman and Board of Directors, for their continued guidance, vision and confidence in me. I would also like to welcome the new Chairman and Board of Directors and look forward to working with you in the future years. My appreciation also goes out to Directors at Non-Bank Supervision unit and Consolidation Unit and all the officials of the Central Bank of Sri Lanka, particularly which played an important role in ensuring the smooth amalgamation of our subsidiaries. My appreciation is extended to all the officers at the Securities & Exchange Commission of Sri Lanka, Colombo Stock Exchange, Registrar of Companies and Bank of Ceylon for the support they all have given to us. Finally, my gratitude goes out to the corporate management and all staff in MBSL, MSB and MCSL, who have continued to support me through the years.

T Mutugala
CEO - Merchant Bank of Sri Lnaka & Finance PLC




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