PMF Finance reports exceptional 6-month performance

From left: Chairman Chandula Abewickrama and CEO Prof. Ajith Medis 

• Highlights resilience and growth

PMF Finance PLC delivered a remarkable performance for the six months ended September 30, 2024, achieving substantial growth and progress through decisive actions that establish a strong foundation. 

• A 500 percent increase in profits, underscoring the company’s robust financial health.
• Improved asset quality, with a drastic reduction in non-performing loans. 
• Strategic initiatives driving operational efficiency and customer outreach.

Speaking about the company’s performance, PMF Finance Chairman Chandula Abewickrama, stated, “Our impressive results are a testament to the strategic decisions and resilience of our team. In a period marked by economic uncertainty, we remained committed to providing value to our stakeholders—regulators, investors, employees, customers and society. This growth underscores our determination to navigate challenges and seize opportunities.”

Under the leadership of CEO Professor Ajith Medis, PMF Finance has undertaken a transformative journey. Since his appointment, the company has focused on cost optimisation, branch efficiency, a substantial increase in disbursements and enhanced customer engagement through digital channels and strategic partnerships.
Reflecting on the company’s achievements, Professor Medis shared, “Our results reflect the effectiveness of our restructuring efforts and our focus on customer-centric solutions. We set a solid foundation to capitalise on the market growth. Moving forward, we aim to expand our footprint and make financial services more accessible and efficient for communities across the country.”

PMF Finance has recently expanded its network with the opening of three more branches in Jaffna, Chillaw and Galle and plans to launch additional branches in the coming months. The company also emphasises its commitment to the SME sector, preparing for sustained growth by ensuring the right mix of talent, resources and technological tools.

The board of directors, comprising seasoned professionals from diverse industries, continues to guide the company toward achieving its ambitious goals while maintaining the highest standards of governance.
With robust support from its Japanese investment arm, PMF Finance is poised for long-term success. The company aims to rekindle its international partnerships to enhance financial capacity and drive innovation.
As PMF Finance embarks on this new phase, it reinforces its position as a resilient and forward-thinking player in the financial services sector, committed to delivering impactful and inclusive growth.