Indra Finance Limited makes steady progress
Indra Finance Limited has been in operation for nearly 3 decades. Incorporated by Mr. Indra Silva, Chairman of Indra Traders (Private) Limited, the lead company within a diversified group, it is now a household name is Sri Lanka. The primary business model of the finance company was to support medium term financing covering passenger and commercial vehicle for SME customers.
The Company has grown at a sustainable pace obtaining license to carry on leasing business from the Central Bank of Sri Lanka along the way. Growth accelerated thereafter with branch openings in Hingurakgoda, Colombo, Mahiyangana and Dambulla, while business centers were opened in Kelaniya, Negombo, Anuradhapura, Embilipitiya, Matara and Kurunegala. These were all located within the Indra Showrooms.
In May 2013, the company obtained the license to carry on Finance Business thereby converting Indra Finance from a Specialized Leasing Company into a Licensed Finance Company. Reflecting increasing levels of mobility across all social groups and an expanding economy, the lending portfolio of the company has now topped Rs. 2 billion. Equally reflecting expansion in the network, focus on customer service and increasing levels of regulation, the number of employees has increased beyond 100. It is noteworthy that Indra Finance, a regulated licensed finance company. Is entirely funded by equity and barrowings without any public deposits.
Given the new regulatory environment and a strategy to grow the business, the company strengthened the constitution of the Board of Directors with professionals. The present Board of Director are as follows -
Prof. Upali illangasekara ( chairmen), Saliya Rajakaruna (Managing Director / CEO), Mr. Rushanka Silva ( Executive Director), Nalin Amunugama ( Non - Executive Director), Athula Silva ( Non - Executive Director), Nandana Abeyakoon ( Director- Finance), Kumara Mayadunne ( Independent Non - Executive Director), Dharma Illangasinghe ( Non - Executive Director).
Gearing for growth also includes the commissioning of a new operat- ing system, re-structure of key management personnel and upgrading the network to enable Indra Finance forge its own identity. The opening of a new head office Building marks this new Head office.
The building with state of the art technology and facilities enable premium quality customer care and been funded entirely by the company. It will be moving to the new building on 4th November 2013 situated at No. 187, Katugastota Road, Kandy. All head office services offered by the Company will be handled from this location thereafter.