Financial Times

RAM Ratings reaffirms Alliance Finance ratings

RAM Ratings has reaffirmed Alliance Finance PLC respective long- and short-term financial institution ratings at BBB (with a stable outlook) and P2.

The rating agency said Alliance reported a better-than-average gross non-performing-loan (NPL) ratio of 3.31%. Considering the industry’s generally deteriorating asset quality, RAM Ratings said it has a positive view of Alliance’s ratio. Meanwhile, the company’s provisioning level remained superior at 94.92%.

Concurrently, its exposure to share trading came up to a moderate 5.58% of its total assets while exposure to inventories such as cars and furniture stayed at 3.73%. Alliance’s healthy asset quality had also enabled it to reduce its provisions from Rs 18.04 million in the year to end March 2006 to Rs 14.75 million in 2006-07. As a result, the company’s pre-tax profit leapt 23.67% year-on-year to Rs 100.10 million over the same span.

Top to the page  |  E-mail  |  views[1]
Other Financial Times Articles
LMSL owes Rs 1.5 bln in taxes-Inland Revenue
Hunter's director resigns, CSE yet to be informed
New rules, regulations for Development Lotteries Board
LMSL to run floating storage facility
LMSL - Preparing to vacate
Acting on SC decisions - Comment
Promoting tourism in South Asia
MTD to bid for toll roads in Colombo city
SriLankan Airlines takes measures to cut fuel usage
SLT Mobitel tie up with Arpico
Vallibel – most traded stock in Colombo bourse last month-report
FCCISL urges creation of Eastern Development Bank to spur development
Inflation falls in August
Inclusive marketing the way forward - Dr Hans Wijayasuriya
Brandix achieves world first in eco-friendly manufacture
Singer to raise Rs 300 million
Sri Lanka’s Milinda speaks at Asia Business Forum Conference
Sri Lanka, Myanmar help each other - Minister
RAM affirms ratings of LB Finance
PR key to create good first impressions


Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 2008 | Wijeya Newspapers Ltd.Colombo, Sri Lanka. All Rights Reserved.