Leasing Archives

April 25, 2024

In partnership with key vehicle dealerships in the Kohuwela area, DFCC Leasing launched its Mega Leasing promotion on the 22nd of March 2024, across multiple prominent locations. The promotion provides very competitive rates of LKR 1,699 for every LKR 100,000 leased, which is the lowest rental in the market. DFCC Leasing partnered with AA Automart, Nalin Auto Enterprises, Premier Auto Mart, and Ranasinghe Enterprises to conduct this promotion. The excitement and offers resulted in active interest from customers and helped DFCC Leasing to showcase its comprehensive leasing facilities while strengthening its partnerships with vehicle dealers.

Commenting, Aasiri Iddamalgoda, Senior Vice President of Retail Banking and SME at DFCC Bank, said, “We are pleased to note the success of this initiative. Our DFCC Leasing stalls were hubs of activity during the promotion, and we have been able to attract several interested customers. Furthermore, we are working to conduct many similar activations as part of our wider commitment to offering innovative and customer-centric financial solutions.”

November 22, 2023

DFCC Leasing, renowned for its commitment to providing exceptional customer value, continues its winning streak by introducing the most affordable monthly lease rentals. Understanding the needs of its diverse customers, “DFCC Leasing” provides the lowest leasing rates in the market, redefining affordability, and accessibility for personal vehicle ownership in Sri Lanka.

Accordingly, under DFCC Leasing’s new offer, customers can enjoy the lowest lease rentals, starting at just Rs. 1,799/- per 100,000/-, setting a new industry benchmark for personal vehicle ownership. This remarkably low lease rental stretches the affordability range of DFCC Leasing’s customers, enabling them to opt for a better vehicle that perfectly suits their needs and aspirations.

Aasiri Iddamalgoda, Senior Vice President of Retail Banking and SME at DFCC Bank, expressed the Bank’s dedication to customer-centric innovation, saying, “We believe in making dreams a reality. DFCC Leasing ensures that everyone can experience the joy of vehicle ownership without compromising on quality or aspirations. We are thus proud to offer the best lease rental rates in Sri Lanka and remain committed to delivering unbeatable value to all our customers, living up to our reputation as the Bank for Everyone.”

Experience a new era of affordability and luxury with “DFCC Leasing.” To learn more about this game-changer for leasing, visit your nearest DFCC Bank branch or explore DFCC Leasing’s website at <https://www.dfcc.lk/products/leasing-personal/>. Alternatively, you can contact DFCC Bank via its 24/7 customer service hotline at 011 2 350 000 and embark on your journey towards affordable vehicle ownership.

July 27, 2023

DFCC Leasing, the leasing arm of DFCC Bank PLC and a pioneer in the industry, has taken a bold and innovative step to address the concerns of Sri Lankans in the market for a vehicle with its special leasing promotion, “Aduwenakota Aduwena Leasing”- “A lease that gets better as you go”. Available only for a limited time, until the 14th of September 2023, DFCC Aduwenakota Aduwena Leasing allows customers to obtain a vehicle now without having to wait for interest rates to go down, vehicle prices to drop, or new vehicle imports to resume.

That is because DFCC Aduwenakota Aduwena Leasing allows you to enjoy the flexibility of switching to a lower rate and even upgrading your vehicle without a penalty after one year. Now, that is flexibility that no other leasing facility in Sri Lanka provides, allowing you to fulfil your dreams of vehicle ownership today and still benefit from the more favourable market conditions expected in the future!

“We aim to empower our customers and provide them with the flexibility they deserve,” said Aasiri Iddamalgoda, Senior Vice President of Retail Banking and SME at DFCC Bank, “With this unique leasing promotion, we are enabling individuals and businesses to seize the opportunity now and experience growth and convenience, at the current market rates, whilst also having the option to switch to more favourable market rates in the future, and even go for a more recent vehicle once imports open up again without any penalty fees.”

This innovative promotion is the first of its kind in Sri Lanka, demonstrating DFCC Leasing’s commitment to addressing the important concerns of consumers whilst delivering unparalleled benefits. With the freedom to choose when to exercise the options available, customers can take advantage of current market conditions, secure their dream vehicle, and experience remarkable growth in their personal or business endeavours.

To learn more about this revolution in leasing, visit your nearest DFCC Bank branch, DFCC Leasing’s website at https://www.dfcc.lk/products/leasing-personal/ or call DFCC Bank’s 24/7 customer service hotline on 0112350000.

July 14, 2023

People’s Leasing & Finance PLC, the trusted leader in the finance leasing sector, takes great pride in securing the top position among Sri Lanka’s Most Loved Brands 2023 in the Finance and leasing category, as recognized by Brand Finance. This remarkable achievement is featured in the LMD Brands Annual 2023 publication.

Having served as a pillar of trust for generations, People’s Leasing and Finance PLC considers its customers a valuable intangible asset. This well-deserved recognition reflects the exceptional commitment displayed by People’s Leasing throughout the year. With 27 years of empowering the nation, the company not only meets consumers’ financial needs but also extends a helping hand through friendly and excellent service.

Shamindra Marcelline, Managing Director/CEO of PLC, expressed the company’s purpose of promoting financial inclusivity and providing advisory solutions to empower businesses and support livelihoods, especially those of small and medium entrepreneurs. PLC has consistently prioritized customer needs and remains dedicated to delivering excellent customer service. Marcelline stated, “I take immense pride in seeing People’s Leasing being acknowledged for its commitment to meeting consumer’s financial requirements and providing excellent service that resonates with their hearts.”

PLC is a leading Non-Bank Financial Institution in Sri Lanka and the flagship subsidiary of the People’s Bank, which is one of the largest state-owned banks in the country. PLC commenced business operations in 1996 and was listed on the Colombo Stock Exchange in 2011. PLC has grown to become a diversified non-bank financial powerhouse with six subsidiaries in allied areas of specialization, including an overseas venture in Bangladesh.

October 26, 2022

Sri Lanka’s most customer-friendly bank, HNB PLC renewed its partnership with Ansen Agriculture to offer customers affordable leasing packages inclusive of attractive benefits for Powertrac Tractors.

The partnership will enable HNB Agri customers special interest rates when purchasing Powertract Tractors. HNB AGM- PFS Kanchana Karunagama, HNB Head of Leasing Susith Perara, Ansen Managing Director Anjelo Wijesinghe, Ansen Financial Controller Tirol Perera and HNB Accountant Ashen Perera were present at the special ceremony held to renew the partnership.

“Given the present financial difficulty experienced in the market the possibility of purchasing Powertrac Tractor, an important asset for farmers, has significantly diminished this year. Therefore, to provide better services for our customers and to help them expand and improve their businesses, we renewed our partnership with Ansel Agriculture. We believe that this bond will be a stepping stone towards a better future for many farmers,” HNB AGM- Personal Financial Services, Kanchana Karunagama said.

Notably, HNB customers will receive a Prestige Prime credit card, with the first year fee waived off, offering customers access to exclusive discounts for Tractors and its automobile products, servicing, spare parts, tyres and batteries.

Moreover, attractive discounted vehicle insurance premiums will also be offered by HNB General Insurance to HNB agricultural-based customers. This will offer free life insurance coverage worth Rs 4.5Mn to cover accidental deaths and in case of the demise of the insured due to natural death, HNB Assurance will offer Rs 600,000/- worth of Natural Death Insurance cover.

“Since inception, we have worked towards providing the best quality services with exceptional packages to all our customers. With this partnership, we believe that we can offer much better opportunities to our mutual customer base with attractive benefits and convenient leasing solutions to grow their businesses,” Ansen Managing Director, Anjelo Wijesinghe said.

Under the partnership, Ansen will offer customers the option of choosing between a warranty for 2,500 hours and free-of-charge installation and training sessions.

October 24, 2022

Sri Lank’s most customer-friendly bank, HNB PLC, signed on as the official leasing partner to the Ceylon Motor Traders Association (CMTA), the representative body of Sri Lanka’s automotive industry.

The strategic tie-up between the two organizations will offer CMTA members access to a wide range of leasing facilities provided by the bank. . HNB DGM Retail & SME Banking Sanjay Wijemanne and CMTA Chairman Charaka Perera were present to commemorate the new partnership.

“To overcome the current economic situation, we have initiated several new activities to develop the automotive industry. This is one such initiative, and although we currently face challenging times, partnerships of this nature would provide comprehensive leasing solutions for members and, by extension, their customers,” HNB DGM Retail & SME Banking Sanjay Wijemanne said.

“Transport is a capital good that often impacts the efficiency of a manufactured product. Greater transport efficiency will have a wider impact on enhancing the efficiency of the economy. Moreover, given the present situation in the country, amidst the import ban, collaborations like this are a vital intervention to support and solve disruptions in the industry,” CMTA Chairman Charaka Perera said.

Founded in 1919, the Ceylon Motor Traders Association is affiliated with the Ceylon Chamber of Commerce and is widely accepted as the voice of the Sri Lankan Automotive Industry. It is the most senior automotive trade association in the region and represents all major international automotive manufacturers through its agents.

Furthermore, the members of the CMTA collectively employ and train thousands of Sri Lankan citizens while bringing in international best practices in engineering and management, making a talent pool that is trained and employable internationally. Additionally, the CMTA members have over 7,000 direct employees and established island-wide dealer networks under them, comprising more than 5,000 small & medium scale enterprises spread across the island.

July 1, 2022

Sri Lanka’s premier private bank HNB PLC joined hands with Brown & Company PLC, the most trusted and preferred partner of customers to offer exclusive leasing packages for state- of the art agricultural machinery.

The partnership between the industry leaders will offer customers purchasing Browns Yanmar and Sumo harvesters and Massey Ferguson and TAFE tractors with exclusive discounts and exciting benefits. The MoU was signed at a special ceremony at Browns Agriculture premises at Dewanampiyatissa Mawatha, Maradana in the presence of HNB Deputy General Manager-Retail & SME Banking Sanjay Wijemanne and Brown & Company PLC Cluster Chief Operating Officer Sanjaya Nissanka.

“The agricultural sector employs close to 30% of the workforce and has the potential to become one of the largest importers in the country. Given the challenges we face as a country today, we worked doubly hard to provide our customers in the sector with the most convenient and beneficial payment solutions to invest in a wide range of agricultural machinery. We are delighted to have renewed our time-honoured partnership with Brown & Company to offer farmers across the island this opportunity,” HNB Deputy General Manager- Retail & SME Banking, Sanjay Wijemanne said.

The partnership entails an attractive leasing package with low-interest rates and customised repayment facilities, tailor-made to suit each customer’s budget and income. HNB customers will also be offered the Prestige Prime credit card, with the bank waiving off the first year’s annual fee payment. The card will give customers access to unique discounts on automobile products, servicing, spare parts, tyres and batteries.

Dedicated to serving a vast array of motor needs, HNB General Insurance will provide additional benefits to customers through cost-effective vehicle and life insurance schemes. This includes discounted vehicle insurance premiums for customers and free life insurance covers.

“At Browns, we operate with our customers’ best interests at heart and we’re excited to offer a diverse range of agriculture machinery paired with advanced technology, our renowned and impeccable after-sales service and a wide selection of genuine spare parts. We look forward to strengthening partnerships of this nature to continue offering valued clientele unparalleled pricing and leasing options,” Brown & Company PLC Cluster Chief Operating Officer Sanjaya Nissanka said.

Customers looking to purchase TAFE tractors will be eligible for free registration and four door step services with no charge for labour in addition to a 24-month/2000-hour warranty and a 12-month/1000-hour warranty for Massey Ferguson Tractors.

Browns YANMAR harvesters purchased through the HNB promotion will be entitled to three free doorstep services and a six-month/ 600 working hour warranty. Customers purchasing Browns world SUMO harvesters will be eligible for three free door step services and a six-month/ 300 working hour warranty.

June 7, 2022

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Despite uncertainties and many challenges, People’s Leasing & Finance PLC, the trusted leader in Sri Lanka’s Non-Banking Financial Institution (NBFI) sector, has once again created history by concluding the Financial Year (FY) 2021/22 with a record-breaking Profit-After-Tax (PAT) of Rs. 4.66 billion, the highest profit, the Company has recorded ever since its inception in 1996.

The PAT has witnessed a remarkable Year-on-Year growth of 15.5% while the Profit-Before-Tax (PBT) is recorded as Rs. 6.65 billion, representing impressive Year-on-Year growth of 13.2%.

Commenting on the all-time high financial results, Chief Executive Officer Shamindra Marcelline said, “Our ground-breaking financial performance during the FY 2021/2022 is a reflection of employee commitment, alignment of strategies to address stakeholder concerns, and restatement of policies and procedures to ensure a conducive operating environment. The year, akin to the previous year, brought daunting challenges amid the third wave of Covid-19 that weighed down the performance of the country’s macroeconomic indicators leading to a difficult environment for businesses to operate. However, as a Company, we overcame these challenges and recorded historical financial performance.”

Marcelline noted that the impressive PAT is also achieved whilst ensuring the well-being of its internal staff of over 2,000, and the local community in this difficult juncture.

The Company’s non-performing assets ratio witnessed a decline reflecting the efforts and resources channeled to managing credit risk and improving recoveries. Impairment charges on loans and receivables declined by 37.2% from Rs.1,044 million to Rs.656 million.

During this period, the Company managed to stay above the requirements imposed by the Central Bank of Sri Lanka in terms of capital and moratoria, whilst maintaining Non – Performing Loans (NPL) ratio well below the industry average.

Further, the Company kept on creating value for its stakeholders throughout the year by adopting stakeholder-focused leadership that mainly targets risk management, measures to accelerate growth momentum, and strengthening policy framework.

Marcelline stated, “The outlook appears to be extremely challenging for the Company. Prevailing inflationary pressure along with increased policy rates are expected to impact the loan book of the Company. To offset this impact, we would be looking at alternate avenues to generate revenue.”

The Company continued its digitalisation process throughout the year and as a part of the process, it launched both internal and external customer-centric applications. It has now become a key priority in going forward to drive cost efficiencies and to enhance engagement with customers.

The Company remained supportive of all its customers during the financial year and provided over 38,000 customers with moratoriums worth Rs. 8.39 billion. Further, in line with the Central Bank of Sri Lanka directives, the Company suspended vehicle seizings and rescheduled loan facilities.

Like any other year, People’s Leasing & Finance launched several CSR projects giving back to the society, particularly in the Northern, Eastern, Western and Southern regions.

In spite of challenges faced throughout the year, the resilience of People’s Leasing & Finance was portrayed through various recognitions and accolades garnered in FY 2021/22. The Company was placed among the top 20 companies out of 75 Public Limited Companies in Sri Lanka in ‘Transparency of Corporate Reporting (TRAC) for the year 2021’ organised by Transparency International. People’s Leasing was also ranked 27th amongst the ‘TOP 40’ Winning Listed Companies in Sri Lanka 2020/21 chosen by the Business Today magazine on the basis of the Best Financial Performance. Furthermore, People’s Leasing & Finance CEO Shamindra Marcelline was awarded the ‘CEO of the Year 2022’ title by the ‘Sri Lanka Best Employer Brands Award 2022’, an event that was hosted by the World HRD Congress, for his true leadership in guiding the Company towards the success.

People’s Leasing & Finance PLC incorporated in 1995 as a private limited liability company fully owned by People’s Bank, today indeed has positioned its brand at the very heart of Sri Lankans. Being a key player in financing the country’s public transport sector People’s Leasing launched a new relief scheme “Hitha Mithuru” for private passenger transport customer segment to conquer the difficulties as they rebuild their businesses post COVID-19. With a strong capital position and a balance sheet, People’s Leasing & Finance is one of the highest-rated NBFI in the country, with an “A+(Ika)” rating from Fitch Ratings Lanka Ltd. People’s Leasing & Finance PLC will continue to service people of Sri Lanka specifically the SME sector, supporting them to grasp mutual goals and aspirations.

June 6, 2022

People’s Leasing and Finance PLC (PLC), Sri Lanka’s incontrovertible pioneer in Non-Bank Finance services and a subsidiary of public sector banking giant People’s Bank, celebrated its 26^th Anniversary on 31^st May 2022.

Due to the economic crisis, gasoline pumpers work tirelessly without regard for their comfort zones delivering 24-hour service to consumers.

To commemorate the Anniversary and appreciate the Staff of fuel stations, according to a concept of the Corporate Management of PLC in collaboration with the Branch Managers, randomly chosen owners of fuel stations near PLC Branches island-wide were gifted a token of appreciation on 31^st May 2022.

People’s Leasing & Finance PLC is a leading Non-Bank Financial Institution in Sri Lanka and a subsidiary of People’s Bank, one of the largest State-owned banks in the country. Commencing operations in 1996 as a specialized leasing company, People’s Leasing and Finance PLC was listed in the Colombo Stock Exchange in 2011. People’s Leasing and Finance PLC has grown to become a diversified non-banking financial powerhouse with six subsidiaries in allied areas of specialization including a venture overseas in Bangladesh.

February 14, 2022

Discounts of Rs 15,000 on tractors, flexible payment plans, free insurance & other benefits for buyers

The Commercial Bank of Ceylon has partnered with Ansen Agriculture (Pvt) Ltd. to offer special leasing packages, flexible payment plans, and other attractive benefits to customers who purchase selected models of Powertrac tractors.

The promotion which has been designed to provide opportunities for agricultural entrepreneurs to purchase Powertrac Euro 50 and Powertrac Euro 45 Cross tractors, will run till the close of 2022, the Bank said.

In addition to flexible leasing packages and special payment plans to suit the seasonal income patterns of this segment, customers are entitled to a special discount of Rs 15,000 on the total cost of the tractors under this promotion.

Furthermore, under the Memorandum of Understanding (MOU) signed between two parties, Ansen Agriculture has agreed to waive off the costs of the RMV registration, provide free vehicle insurance cover for the first year, free installation and operator training, and up to seven labour-free services to customers who obtain leasing facilities from Commercial Bank.

Besides delivering the best lease rentals and flexible payment options, Commercial Bank said it will ensure hassle-free documentation processes, quick lease approvals and expert guidance to customers under this promotion.

The Bank said that the leasing promotion will be conducted on the digital platforms of both companies while spot promotions have been organised to display the tractors at selected Commercial Bank branches to ease the decision making of customers that seek benefits from the promotion.

Ansen Agriculture (Pvt) Ltd. has been importing and distributing tractors, harvesters, rotavators and other agriculture-related machinery and accessories since 2003. The Company directly imports and distributes Powertrac Euro 45 Cross and Powertrac Euro 50 tractors, a leading and trusted brand in the Indian agriculture machinery market and provides after-sales services Island-wide.

Sri Lanka’s first 100% carbon neutral bank, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 11 years consecutively, Commercial Bank operates a network of 268 branches and 938 automated machines in Sri Lanka. Commercial Bank is the largest lender to Sri Lanka’s SME sector and is a leader in digital innovation in the country’s Banking sector. The Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets; Myanmar, where it has a Microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.

Older Posts

DFCC Mega Leasing Promotion Kicks Off, Attractive Rates on Offer

“Make a Major Change in Leasing with “DFCC Bank – Unlock the Most Affordable Option in the Market”

DFCC Bank Sets New Industry Standard with Enhanced Leasing Products

Peoples Leasing & Finance PLC Dominates as the Most Loved Brand in Sri Lanka’s Finance Leasing Sector

HNB renews Ansen partnership to provide affordable leasing packages to Agri sector

HNB signs on as annual corporate leasing partner for CMTA

HNB and Brown & Company collude to offer exciting leasing facilities for Agri machinery

People’s Leasing & Finance records historic profit in FY 2021/22

People’s Leasing celebrates its 26th Anniversary while appreciating the tireless work of the Staff at fuel stations Island wide

ComBank & Ansen partner on leasing promotion for Powertrac tractors