CIM Financial Services Reports Impressive Year-End Profit of Rs961m

CIM Financial Services Ltd achieved a bottom line profit of Rs961m for the year ending 30 September 2023, with the success largely attributed to the growth in consumer finance and leasing activities.

Despite higher funding costs, net interest income was impacted. However, the allowance for credit impairment on financial assets improved due to a better loan book and consistent collection efforts.

The Group demonstrated its commitment to supporting its most affected customers throughout the year.

The Board declared a final dividend of 38 cents per share for all ordinary shareholders, with payment scheduled for 26 January 2024.