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Commercial Leasing & Finance PLC posts historic profits in FY2020/21

Profit Before Tax up by 34% over previous year to record Rs. 2.67 Bn Profit After Tax soars by 43% to reach Rs. 2.2 Bn 60,000 moratoriums granted to support customers Gross Portfolio growth of 15% Deposit growth of 32% Provision cover of 107% over NPLs In its most impressive performance yet, Commercial Leasing & Finance PLC (CLC) recorded its best-ever financial year despite the severe challenges arising from the COVID-19 global pandemic through the year, achieving a growth of 34% in Profit Before Tax over the previous year to record Rs. 2.67 Bn, while Profit After Tax rose by as much as 43% over the preceding year to reach Rs. 2.2 Bn. Meanwhile, Cost of funds decreased by as much as 23% to record Rs. 4,737 Mn in the year under review.

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