Richard Pieris Finance Records Rs. 292 Million Profit Before Taxes in First Half of 2025/26

Richard Pieris Finance Limited has reported a strong performance for the six-month period ended 30 September 2025, reflecting continued upward performance, operational discipline, and a solid return to sustained profitability. Despite challenging macroeconomic conditions in recent years, including the pandemic, liquidity pressures, and rising interest costs, the Company has demonstrated resilience and a clear upward trajectory.

For the first half of the current financial year, the Company recorded a profit before taxes of Rs. 292 million, driven by improved core lending operations, disciplined cost management, and a well-diversified portfolio. Key performance indicators reflected strengthened financial footing, including profit before taxes over 75% growth compared to the previous year, a 47% profit after taxes growth, and a 20% increase in total assets exceeding Rs. 20 billion, with a vision to expand its asset base to Rs. 50 billion over a medium term. Its lending portfolio remains well-balanced, comprising of vehicle leasing, gold loans, Islamic finance, consumer lending, and the recently introduced Sarumaga mortgage loan product specially focused on the SME sector, which offers faster processing and enhanced customer convenience. The Company’s fundamentals remain solid, supported by stable deposits and prudent risk management, further reinforced by its ‘A(lka)’ credit rating with a Stable Outlook from Fitch Ratings, underscoring its financial strength, institutional stability and market confidence. 

The Company’s governance framework continues to evolve under the leadership of Chairman Nalin Wijekoon, supported by a Board with expertise across risk, audit, finance, strategy, HR, digital transformation, and corporate management. This depth of leadership has played a key role in sustaining the Company’s growth over the past two years and guiding its strategic direction.

Commenting on the results, Chairman Nalin Wijekoon said, “Our performance reflects disciplined execution and the confidence placed in us by our customers. We remain committed to strengthening our foundations while delivering consistent value.”

CEO Lohika Fonseka added, “The first half of the year has been encouraging and aligns with our long-term direction. We will continue widening access, enhancing service delivery, and supporting customers with efficient, reliable financial solutions.” He further highlighted that the company’s risk-based credit approach, together with the enhanced procedures introduced for credit and operational functions to ensure more vigilant customer selection, had been a key driver over the past few years. This strategy focused not only on growing the portfolio but also on maintaining a high-quality customer base.

Richard Pieris Finance Limited currently operates 18 branches nationwide, with further expansion planned to improve accessibility. 

Richard Pieris Finance Limited is a proud member of the Richard Pieris Group, one of Sri Lanka’s largest and most diversified conglomerates, whose business interests span sectors such as retail, manufacturing, plantations, financial services, and insurance. The Group’s financial services arm includes Arpico Insurance PLC and Richard Pieris Finance Limited, reflecting a shared commitment to financial inclusion, customer confidence, and sustainable growth.