People’s Leasing & Finance PLC (PLC) which is a flagship subsidiary of the People’s Bank remains one of the leading non-bank finance companies in Sri Lanka.
Being an inclusive financial solutions provider annually PLC invests part of its profits on outreach CSR engaging the volunteered support of the staff members from the branch network island wide for the betterment of the society and environment. This effort was supported by the volunteered spirit of the PLC branch managers and staff of Mannar, Puttalam, Chilaw, Negombo, Panadura, Aluthgama, Ambalangoda, Galle, Matara and Tangalle PLC branches.
Being an environment conscious corporate, PLC successfully completed a CSR initiative to improve the beach vegetation through a planting campaign where 5,500 saplings were planted from Mannar to Tangalle. This initiative is expected to conserve and enhance the biodiversity of the coastal eco system.
Guided by the Coastal Conservation Department, PLC joined hands with Bio Conservation Society to implement this CSR. In the coastal belt extending from Mannar to Tangalle, 4,500 Pandunus tectorius (watakeiyya) plants and 1,000 Rhizophora Mangrove plants were planted. Locations include (Erukkalampidi) Mannar, (Kandakuliya) Puttalam, (Kurukupane) Chilaw, (Dungalpitiya) Negombo, (Pothupitiya) Panadura, (Athuruwella) Aluthgama, (Ahungalla) Ambalangoda, (Mahamodara) Galle, (Midigama) Matara and (Kapuhenwala) Tangalle.
In addition to the planting program, 10 workshops on conservation of coastal eco system was conducted for the stakeholders who directly and indirectly related to coastal eco system including officials of the Department of Wildlife Conservation, Sri Lanka Police, Coastal Conservation Department, school children, community based organizations, and local communities. This understanding of mangroves and their ecosystem functions is expected to enable local communities to better involve with managing mangrove programmes.
It was significant that not only these stakeholders actively volunteered in planting but also expressed their commitment to protect the newly planted saplings until they establish in the new soil. Participants were presented with certificates as a gesture of appreciation.
Mr. Sabry Ibrahim, CEO/GM, PLC’s speaking of this CSR initiative said that, PLC as a responsible corporate is dedicated towards conserving the environment and enhancing status of citizens in the country with the great enthusiasm and commitment from the branch network.
“The objective of this long term planting initiative is to contribute towards removal of greenhouse gas emissions that cause global warming. It is also expected to enhance bio-diversity. Bio Conservation Society’s support towards this project is greatly appreciated.” Added Mr. Laksanda Gunawardene, DGM – Marketing.
Bio Conservation Society (BCSL) is an active organization in Sri Lanka that endeavours in conserving sea turtles. The Chairman of BCSL, Dr. Lalith Ekanayake is an expert on conserving sea turtles.
Dr. Lalith Ekanayake stated, “We are pleased to partner with PLC in implementing this initiative. Absorption of carbon dioxide from atmosphere by mangroves is directly related with Greenhouse effect and thereby controls global climate change. Growing of small fish and prawns will be increased among the root system of the mangroves. Hence, fishermen will get a chance to increase their fish harvest. Further, the beach vegetation coverage will be increased and it will directly impact to reduce the beach erosion due to high tide and rough sea. Coastal communities depend on lagoon fishery and this type of immediate conservation and management actions are essential in order to preserve this vital ecosystem as beach vegetation including mangroves are disappearing from many areas.”
People’s Leasing started its business operations in 1996 as a wholly owned subsidiary of one of the largest state banks in Sri Lanka, the People’s Bank.
Fitch Rating Lanka has assigned PLC a credit rating of AA- (lka) which makes PLC the highest rated Finance company in the country. PLC is the only Sri Lankan Finance company to have two international ratings of which one is equal to the Sovereign from Standard & Poor’s (‘B+/B’) and the other is one notch below the Sovereign from Fitch Rating International (‘B’).
PLC’s financial service product portfolio includes; leasing, auto loan, fixed deposits, saving accounts, housing and business loans, gold loan, margin trading, factoring and Islamic financial services.
People’s Leasing conglomerate consists of six subsidiaries namely, People’s Insurance PLC, People’s Micro-Commerce Ltd, People’s Leasing Property Development Ltd, People’s Leasing Fleet Management Ltd, People’s Leasing Havelock Properties Ltd and its latest foreign venture Lankan Alliance Finance Limited.
The uniqueness of People’s Leasing is its strength and the stability to provide diverse financial solutions under one roof to its customers, thus enabling the customers to obtain convenient and customer friendly services.