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Tuesday, December 4, 2012

People’s Leasing & Finance PLC to Transform the Financial Services Landscape in Sri Lanka

People’s Leasing & Finance PLC to Transform the Financial Services Landscape in Sri Lanka
People’s Leasing & Finance PLC to
 Transform the Financial Services Landscape in Sri Lanka

‘Embrace the Change’

People’s Leasing & Finance PLC, formerly known as People’s Leasing Company PLC (PLC), proudly announced its new corporate identity and unveiled its new logo at a press conference entitled, ‘Embrace the Change’, at the Hotel Ramada in Colombo. The launch of the new identity and logo was pursuant to PLC receiving the license to conduct finance business under the Finance Business Act No.42 of 2011 from the Monetary Board of the Central Bank of Sri Lanka. The finance business license enables PLC to expand its reach to establish its presence in retail funding, providing a comprehensive suite of financial services to its customers.

Mr  Kumarage Chief Executive Officer Peoples Leasing & Finance
Mr  Kumarage Chief Executive Officer
 Peoples Leasing & Finance
The members of the Board of Directors and the Management of the Company lead by Mr. D. P. Kumarage, CEO/GM, were present to unveil the new identity and the logo.

Speaking of the new identity Mr. D P Kumarage, CEO/GM, People’s Leasing & Finance PLC, stated, “As we meet to ‘Embrace the Change’ on this landmark occasion, it is hard not to dwell on the remarkable achievements of the company in a relatively short period of time. Within a mere  six years since we  commenced operations, we secured the distinction of being the number one leasing company in Sri Lanka and have been able to retain this position consecutively for the last ten years. This is a notable milestone in the country’s financial sector as we ready ourselves to meet our strategic goals, led by a vision of being a powerful conglomerate with a global presence. ’’

Consequent to receiving the finance business license and the change of name to Peoples Leasing & Finance PLC, the company launched its new logo staying in line with its renewed vision.  The new company logo embodies the dynamic new approach the company will adopt. The logo shows arrows bursting forth from the background and moving towards different stakeholders, symbolising growth and prosperity. As the arrows converge, it illustrates two separate elements – the red and the blue – meeting as they grow and work together as one. The elegant serif typeface used for the rest of the logo conveys a familiar yet aspirational design, exuding a feeling of reliability and trust. The company’s new renewed vision will empower Peoples Leasing & Finance PLC to take a dynamic new approach to reinforce growth and prosperity while delivering on the well-known reliability of the company that customers island wide have grown to trust.

Having received the finance license, People’s Leasing & Finance PLC is now Sri Lanka’s largest and highest rated finance company that is also the only one in Sri Lanka to have received two international ratings. Recently the company’s national long term rating was upgraded by Fitch Ratings Lanka from an A+ (Ika) to a AA- (Ika). The first of the two international ratings achieved by the company is equal to the sovereign from Standard & Poor’s with a B+/B and the second international rating a notch below the sovereign from Fitch Ratings International is rated a B+.

With the People's Leasing Group having diversified over the years to include six subsidiaries, customers are able to obtain Insurance, Finance, Microfinance, Property Development and Fleet Management services under the PLC brand name. The insurance company set up as a subsidiary in 2010 has since steadily grown to become the fifth best company in the insurance industry. The company’s close bonds with the nation’s people and its clear ability to deliver along with its potential were further demonstrated with the instant oversubscription of the Initial Public Offering in late 2011. More recently this year the company was the only leasing and finance company recognised as one of the ‘Ten Best Corporate Citizens’ for its sustainability-integrated business and CSR initiatives.

The company’s dynamism is evident in its rapid growth and professionalism in all aspects of its operations, offering excellent customer care levels and facilities for customers. Over the years, the PLC group has pre-empted its customer’s needs and uplifted many lives, gradually reaching out to all income levels and categories of customers.

The new People’s Leasing & Finance PLC embraces the change and looks onto transforming the nation’s financial sector by ensuring customers are provided with the highest standards of service as maintained by renowned international finance firms.

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