Vallibel Finance
Vallibel Finance is a Sri Lankan non-bank financial company providing consumer and business-oriented financial services.
Last updated August 26, 2026
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Overview
Vallibel Finance is a Sri Lankan non-bank financial company whose origins date to 1974, when it was incorporated as The Rupee Finance Company Limited. It began as a small family-owned finance business and was converted into a public company in 1989. The company entered a new phase in 2005 when businessman Dhammika Perera acquired it and subsequently rebranded it as Vallibel Finance, aligning the business with the Vallibel group of companies. The rebranded company pursued formal capital-market expansion. Its initial public offering opened on 31 March 2010 and was oversubscribed on the first day. Vallibel Finance was subsequently admitted to trading on the Colombo Stock Exchange in April 2010. The listing gave the company access to public equity markets and increased its profile within Sri Lanka's financial-services sector. In 2011, it moved its headquarters to a new location in Kollupitiya, Colombo. Vallibel Finance has also developed its institutional infrastructure and external financial relationships. In 2013, it changed rating agencies, replacing Fitch with RAM Ratings. RAM assigned the company a BB+ rating, while Fitch, on withdrawing its rating, affirmed a BB-(lka) long-term rating. In 2014, Vallibel Finance joined LankaPay's electronic fund-transfer network, connecting the company to Sri Lanka's national payments infrastructure and supporting more convenient electronic transaction capabilities. The company operates as a non-banking financial company rather than a conventional deposit-taking commercial bank. Its business identity is therefore associated with organized finance-company services, credit-related products, and other financial facilities offered through a branch and service network in Sri Lanka. The available reference material does not provide a complete current product catalogue, detailed segment breakdown, or a full description of its digital channels, so those elements cannot be specified reliably here. Vallibel Finance has received recognition for its corporate standing and employment brand. It was included among Sri Lanka's leading publicly traded companies in the LMD 100 ranking and was identified among the country's most valuable brands in 2022. LMD also named it the most respected financial company in 2017, when it placed 22nd in the publication's overall ranking. In 2016, the company was recognized among Sri Lanka's Best Employer Brands; at that time, it had close to 700 employees. The company has pursued property and infrastructure development alongside its financial operations. In 2020, it entered into an agreement with the Board of Investment of Sri Lanka concerning construction of a 16-storey office complex in Kollupitiya. The project was described as an 18-month development, although the available material does not establish its final completion status. Vallibel Finance remains a Sri Lankan publicly listed finance company. Its history combines a long-established local finance-business origin, ownership and rebranding under Dhammika Perera, a 2010 stock-market listing, integration with national payment infrastructure, and participation in the country's corporate and brand-ranking ecosystem. Its current credit profile and operating position have also been discussed by local rating agencies, including a BBB+ rating with a negative outlook assigned by Lanka Rating Agency in February 2023. The cited rationale referred to the company's market presence and Sri Lanka's prevailing economic conditions.
History
Vallibel Finance was established in 1974 under the name The Rupee Finance Company Limited. It started as a small family-owned finance business in Sri Lanka and later became a public company in 1989. The transformation into a public company created the corporate structure through which the business would later expand and seek a broader capital base. A significant ownership and identity change occurred in 2005, when Dhammika Perera acquired the company. Following the acquisition, the business was renamed Vallibel Finance. The new name associated the finance company with Perera's wider Vallibel business interests and marked the beginning of its modern corporate identity. The company took an important capital-markets step in 2010. Its initial public offering opened on 31 March and was oversubscribed on the first day. Vallibel Finance was then listed on the Colombo Stock Exchange in April of the same year. This gave the company a public-market presence and placed it among Sri Lanka's listed financial enterprises. In 2011, the company relocated its headquarters to new premises in Kollupitiya, Colombo. Vallibel Finance's external credit assessment arrangements changed in 2013. It replaced Fitch with RAM Ratings as its rating agency in April. RAM assigned a BB+ rating, while Fitch, as it withdrew its rating coverage, affirmed a BB-(lka) long-term rating. The episode reflected the company's engagement with formal rating processes and provided market participants with external assessments of its credit profile. In 2014, Vallibel Finance joined LankaPay's electronic fund-transfer network. Participation connected the company with Sri Lanka's national electronic payments environment and represented an infrastructure-related step beyond traditional branch-based finance operations. The company received several forms of recognition during the 2010s. In 2016, it was named among Sri Lanka's fifty Best Employer Brands, when its workforce was reported to be close to 700 people. In 2017, LMD recognized Vallibel Finance as Sri Lanka's most respected financial company; it also ranked 22nd across the publication's overall list. Vallibel Finance subsequently appeared in the LMD 100, an annual ranking of publicly traded Sri Lankan companies by revenue. It was placed 78th in the 2022 edition, a lower position than the preceding year according to the available reference material. The company was also included among Sri Lanka's 100 most valuable brands in 2022. These rankings indicate the company's visibility in the domestic corporate and financial-services landscape, although they do not by themselves describe its current financial performance. In 2020, Vallibel Finance signed an agreement with the Board of Investment of Sri Lanka to develop a 16-storey office complex in Kollupitiya. The project was described as an 18-month construction undertaking. The available material does not confirm whether the project was completed on schedule or provide a later construction status. During the COVID-19 period, the company was reported to have supported Kurunegala Teaching Hospital with medical equipment. The available reference describes the donation as two ventilators, but its stated year is internally inconsistent with the pandemic chronology; the precise date is therefore not used as a separate dated milestone here. In February 2023, Lanka Rating Agency assigned Vallibel Finance a BBB+ rating with a negative outlook. The stated reasoning referred both to the company's established market presence and to difficult economic conditions in Sri Lanka. Overall, the company's documented history is one of local finance-company formation, conversion into a public company, acquisition and rebranding, stock-exchange listing, payments-network integration, institutional recognition, and continued operation within Sri Lanka's non-bank financial sector.
- 2023
BBB+ rating with negative outlook
[1]Lanka Rating Agency assigned the company a BBB+ rating and a negative outlook.
- 2020
Office-complex development agreement
[1]Vallibel Finance signed an agreement with the Board of Investment of Sri Lanka for a 16-storey office complex in Kollupitiya.
- 2014
Joined LankaPay
[1]The company joined Sri Lanka's LankaPay electronic fund-transfer network.
- 2013
Change in rating agency
[1]The company replaced Fitch with RAM Ratings for its rating engagement; RAM assigned a BB+ rating.
- 2011
Headquarters moved to Kollupitiya
[1]Vallibel Finance relocated its headquarters to new premises in Kollupitiya, Colombo.
- 2010
Initial public offering and Colombo Stock Exchange listing
[1]The IPO was oversubscribed on its opening day, and the company was listed on the Colombo Stock Exchange in April.
- 2005
Acquired by Dhammika Perera and renamed Vallibel Finance
[1]Dhammika Perera acquired the business, which was subsequently renamed Vallibel Finance.
- 1989
Converted into a public company
[1]The company adopted a public-company structure, preceding its later capital-markets expansion.
- 1974
Incorporated as The Rupee Finance Company
[1]The business was incorporated in Sri Lanka as The Rupee Finance Company Limited, beginning as a small family-owned finance company.
Products and positioning
A Sri Lankan publicly listed non-bank financial company positioned around accessible finance, local market presence, and the institutional credibility of the Vallibel name.
Financial services
Non-bank finance services
Vallibel Finance operates as a non-bank financial company in Sri Lanka. Its overall offering is centered on finance-company activities rather than the full range of services associated with a conventional commercial bank. The supplied reference material confirms the company's sector and market presence but does not provide a sufficiently detailed current catalogue of individual products.
Brand decisions
2020
Planned Kollupitiya office complexStrategyBackground
The company planned additional office infrastructure in Colombo.
Action taken
It signed an agreement with the Board of Investment of Sri Lanka to develop a 16-storey office complex in Kollupitiya.
Aftermath
The available material describes an intended 18-month development period but does not establish the project's final outcome.
2014
Integration with LankaPayStrategyBackground
Electronic payment connectivity was becoming an important part of financial-service infrastructure in Sri Lanka.
Action taken
Vallibel Finance joined the LankaPay electronic fund-transfer network.
Aftermath
The company gained participation in the country's national electronic fund-transfer environment.
2010
Initial public offering and exchange listingM&ABackground
Vallibel Finance sought access to public equity markets after operating as a public company since 1989.
Action taken
The company conducted an initial public offering and was listed on the Colombo Stock Exchange.
Aftermath
The listing increased the company's visibility as a Sri Lankan publicly traded finance company.
2005
Acquisition and rebranding as Vallibel FinanceStrategyBackground
The company, formerly known as The Rupee Finance Company, was acquired by Dhammika Perera.
Action taken
Following the acquisition, the business adopted the Vallibel Finance name.
Aftermath
The rebranding established the identity under which the company later pursued a public listing and broader institutional profile.
Recent events
- 2023
Lanka Rating Agency assigns Vallibel Finance BBB+ rating with negative outlook[1]
Other
Lanka Rating Agency assigned Vallibel Finance a BBB+ rating in February 2023 and gave the rating a negative outlook, citing the company's market presence and Sri Lanka's economic conditions.
- 2020
Vallibel Finance enters office-complex development agreement[1]
Other
The company signed an agreement with the Board of Investment of Sri Lanka for development of a 16-storey office complex in Kollupitiya.
- 2014
Vallibel Finance joins LankaPay electronic fund-transfer network[1]
Other
Vallibel Finance became a participant in LankaPay's electronic fund-transfer network, extending its connection to Sri Lanka's national payments infrastructure.
- 2010
Vallibel Finance completes initial public offering and joins the Colombo Stock Exchange[1]
Other
The company's initial public offering was oversubscribed on its opening day on 31 March 2010, followed by its listing on the Colombo Stock Exchange in April.
Sources1 sources
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