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This was against a loss in the year ago June quarter.
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Deposits at the CBSL registered finance company were up more than 10% over the March 2018 quarter to stand at Rs2.66bn. Revenues were up a massive 156% year over year as the company positions itself for a growth phase. Top support this growth, and to comply with minimum capital regulations of the Central Bank of Sri Lanka, Prime Finance has just completed a significant rights issue. Through the rights issue Rs864mn was infused into the company. Prime Finance (GSF) is 90% owned by Prime Lands Pvt Ltd, one of the largest land developers in Sri Lanka.