Sri Lanka, Nov. 30 -- Mercantile Investments and Finance PLC (MI Finance) has achieved a landmark corporate milestone, surpassing Rs. 100 billion in total assets while recording commendable profitability second-quarter growth that positions the institution among Sri Lanka's premier non-bank financial institutions. The achievement represents a dramatic elevation for the 60-year-old institution from mid-tier player to a major market force.
The breakthrough follows a noteworthy half-year financial performance, with a 35% year-on- year increase in net profit after tax to Rs 504 million for the half-year period, while profit before tax climbed 34% to Rs.837 million. This stellar performance was driven by an extraordinary 86% annualised growth i...