People’s Leasing Turns 25; Chairman, CEO Extend Gratitude to Clientele for Unwavering Loyalty

Sri Lanka’s pioneering stateowned Financial Institution, People’s Leasing & Finance PLC (PLC), celebrated its 25th anniversary recently. The Chairman, CEO and staff members extended their sincere gratitude to the loyal clientele for unwavering loyalty & trust placed on the Organisation over the past 25 years which has served to position it as one of the most trusted, sought- after NonBank Financial Institutions (NBFI) in the country.

Since its inception in 1996, PLC has branched out to every part of the country with an impressive network of 103 branches by 2021. PLC employs 2400 persons across different roles and capacities which is a stark contrast to its original team of just three members.

From 10mn rupees in 1996, the group has expanded its capital base to Rs 30.25 billion as at today. PLC has the most comprehensive & diverse portfolio of products & services among finance companies in Sri Lankan today offering Auto Loans, Gold Loans, Business Loans, Education loans, Housing Loans and Personal Loans at competitive interest rates. PLC currently has five subsidiaries under its belt and is synonymous with flexibility which sets it apart from its competition.

Commenting on the milestone, Chairman Sujeewa Rajapakse said: “People’s Leasing’s longterm goal is to become a sustainable admired business model that leads in inclusive finance. The uncertainties of the operating environment necessitate focus on improving the management of non- financial risks including operational and compliance practices as this is a fast- evolving aspect of risk management. People’s Leasing hopes to collaborate with industry peers and regulators to promote purposeful lending principles in the Non- Bank Finance landscape to support sustainable economic activity.”

Meanwhile the CEO Shamindra Marcelline extended his sincerely gratitude to the entire staff, past and present for their dedication & commitment that have served to elevate the organisation to its current standing: “I am thankful to each and every member of my team for working together to uphold the organisational philosophy of customer- centricity at all times.”

Bank and the private sector vibrancy, there is absolutely no reason why we cannot be.