Financial Services Archives

August 10, 2023

August 10th 2023: Sri Lanka’s leading integrated financial services provider, HNB FINANCE PLC, proudly announced the launch of its 79^th branch in Maharagama, as part of its continued efforts to improve accessibility and meet the increasing demand for integrated financial services around the island.

The new branch, situated at No.17, High Level Road, Maharagama, Sri Lanka, offers customers easy access to a wide range of financial services, including leasing facilities, savings and fixed deposits, business loans, housing loans, and industry-leading gold loan facilities – all under one roof. With its prime location in the heart of Maharagama, customers can now enjoy the convenience of accessing these services right in their neighbourhood.

In response to the growing demand for gold loans in the Maharagama area, HNB FINANCE has also introduced a brand new Gold Loan Unit along with the launch of the new branch. The company’s innovative gold loan products, including Gold Loan, Gold Plan, and VIP Gold Loan, are now easily accessible to potential customers in the area. With some of the industry’s best values for gold at the lowest rates, the new unit is expected to serve as a one-stop-shop for customers seeking reliable and hassle-free gold loan services in the Maharagama area.

The opening ceremony of Maharagama branch took place recently and the chief guest was HNB Finance Managing Director and CEO Chaminda Prabhath who was Chief Guest, alongside Deputy Chief Executive Officer Maduranga Heenkenda, senior management members representing the company, as well as Branch Managers, Staff, well-wishers and customers.

“Our strategic approach is designed to maintain HNB FINANCE as the preferred financial services provider for customers in the non-bank financial institution (NBFI) sector. Through the opening of this new branch in Maharagama, our goal is to elevate the customer experience and improve accessibility. We are fully committed to offering top-notch financial services and personalized customer relationships. This additional branch serves as a testament to our unwavering commitment to ensuring customer satisfaction,” stated Chaminda Prabhath, the Managing Director and CEO of HNB FINANCE.

HNB FINANCE’s commitment to customer-centric services has been a driving force behind its expansion across the island. The launch of the new Maharagama branch is yet another step in this direction, bringing HNB FINANCE’s services closer to customers and providing them with easy access to quality financial solutions.

With the launch of the new Maharagama branch, HNB FINANCE continues to set new standards in the financial services industry, ensuring that customers receive the best possible services and solutions.

July 28, 2023

July 26, 2023: HNB FINANCE PLC, Sri Lanka’s leading integrated financial services provider, launched a new Gold Loan Unit at its Homagama branch located at No. 62A, High Level Road, Homagama. The branch was also refurbished and modernized to further improve customer experience.

The launch event was graced by key executives, including MD/CEO Chaminda Prabhath and DCEO Maduranga Heenkenda along with AGMs, department heads, and branch managers.

The new Gold Loan Unit was established in response to the growing demand for gold loan services in the area. Existing and potential customers can now avail themselves of the company’s innovative gold loan products, such as Gold Loan, Gold Plan, and VIP Gold Loan, with some of the industry’s best values for gold at the lowest rates.

“We have the dedication and resources to offer customized and reliable services to both our current and prospective customers in Homagama. With the recent establishment of our Gold Loan Unit, our objective is to ensure smooth and customer-oriented financial services and gold loan facilities,” stated Lakshman Ranasinghe, the Head of Gold Loans at HNB FINANCE.

HNB FINANCE’s Gold Plan is a unique offering that allows customers to purchase gold jewelry of their choice by paying in installments, providing people with the opportunity to increase their gold reserves and purchase jewelry for their children’s festive requirements, among others. This scheme is also a great investment opportunity for customers to fulfill their immediate financial needs in the future.

For customers who are looking to obtain quick loans against their gold possessions, HNB FINANCE’s VIP Gold Loan scheme is the ideal option. The scheme is designed to provide maximum value to any business or individual with a highly personalized level of care. Customers who apply for a loan under this scheme will receive HNB FINANCE’s fullest support and cooperation, including personalized services for customers who wish to conduct the process at their convenience.

At HNB FINANCE, experts thoroughly analyze the gold, leaving no room for discrepancies. Upon approval, customers receive a fast-tracked experience to obtain the loan amount in minutes, avoiding any hassle.

“We remain determined to reaffirm our pledge in meeting customer demands and go the extra mile in delivering unparalleled services to our valued customers,” Ranasinghe further emphasized.

July 20, 2023

June 18, 2023: HNB FINANCE PLC, Sri Lanka’s leading integrated financial services provider, launched a new Gold Loan Unit at its Morawaka branch located at No.07, Nilwala Building, Morawaka. The launch event was attended by key executives, including CEO/MD Chaminda Prabhath along with AGMs, product heads, and branch managers.

The new Gold Loan Unit was established in response to the growing demand for gold loan services in the area. Existing and potential customers can now avail themselves of the company’s innovative gold loan products, such as Gold Loan, Gold Plan, and VIP Gold Loan, with some of the industry’s best values for gold at the lowest rates. HNB FINANCE is committed to not overcharging customers and assures utmost transparency.

“We are committed and equipped to provide personalized and reassured services to all of our existing and potential customers in the Morawaka area. With the introduction of the new Gold Loan Unit, we aim to facilitate seamless and customer-centric financial services and gold loan facilities,” said HNB FINANCE Head of Gold Loans Lakshman Ranasinghe.

HNB FINANCE’s Gold Plan is a unique offering that allows customers to purchase gold jewelry of their choice by paying in installments, providing people with the opportunity to increase their gold reserves and purchase jewelry for their children’s festive requirements, among others. This scheme is also a great investment opportunity for customers to fulfill their immediate financial needs in the future.

For customers who are looking to obtain quick loans against their gold possessions, HNB FINANCE’s VIP Gold Loan scheme is the ideal option. The scheme is designed to provide maximum value to any business or individual with a highly personalized level of care. Customers who apply for a loan under this scheme will receive HNB FINANCE’s fullest support and cooperation, including personalized services for customers who wish to conduct the process at their convenience.

At HNB FINANCE, experts thoroughly analyze the gold, leaving no room for discrepancies. Upon approval, customers receive a fast-tracked experience to obtain the loan amount in minutes, avoiding any hassle

“We will continue to reiterate and prove our commitment towards satisfying customer expectations, by providing unmatched services to our customers,” added Ranasinghe.

June 6, 2023

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M Power Capital, a leading financial services company, is pleased to announce the appointment of Mr. Jehaan Ismail as the Chairman of the company, with effect from 1 June 2023. This appointment comes as part of the company’s strategic restructuring to enhance its leadership team and drive future growth.

Mr. Ismail brings with him a wealth of experience and a proven track record in the financial services industry. Having previously served as the Managing Director of the Company, he is well-versed in the company’s operations, vision, and core values. As Chairman, Mr. Ismail will provide strategic guidance and leadership to further strengthen the company’s position in the market.

Mr. Anil Cooray, the former Chairman is relinquishing duties due to personal reasons. However, Mr. Cooray will continue to contribute to the company’s development and success as a non-executive Director.

Furthermore, the company is also pleased to announce the appointment of Mr. Naveen Samarasekera as the new Managing Director of M Power Capital. Mr. Samarasekera brings a diverse skill set and a deep understanding of the industry. With his visionary leadership, the company is poised to capitalize on emerging opportunities and expand its range of services.

Mr. Samarasekera’s appointment reflects M Power Capital’s commitment to nurturing talent from within its ranks and recognizing exceptional individuals who exemplify the company’s values of integrity, innovation, and client-centricity.

These appointments represent an exciting chapter in the evolution of M Power Capital. The company is well-positioned to thrive under the guidance of its new Chairman and Managing Director, as it continues to deliver innovative solutions and superior value to its clients.

March 28, 2023

A highly skilled, well-educated workforce who are valued members of the CISI global family were some of the comments made by Chartered Institute for Securities & Investment (CISI) CEO Tracy Vegro on her recent visit to Colombo, Sri Lanka meeting CISI staff, members, stakeholders and partners.

The global professional financial services membership body CISI, a charity and chartered body created out of the London Stock Exchange, has been operating in Sri Lanka since 2011 and Vegro’s visit to Colombo included a series of business meetings with CISI board members, partners, Embassy officials and accredited training providers.

The CISI Sri Lanka office celebrated its 10-year anniversary in 2021. Since the launch of the CISI Colombo office in 2011 with only seven staff, there are now 70 staff whom form the CISI team, including Marketing and Communications, Global Business Development, Finance, Customer Support, and IT.

The most taken financial services professional qualifications in the Sri Lankan market which CISI provide include those for the capital markets, compliance and wealth sectors and since inception 10,000 CISI qualifications have been taken in Sri Lanka. Vegro noted: “It’s been a privilege to meet with the many colleagues, partners and accredited training providers who support CISI here in Sri Lanka. I have also had the great pleasure of meeting our CISI Trustee and National Advisory Council President Nandika Buddhipala MCSI and would like to thank him and the CISI NAC for their continued enthusiasm and wise counsel for CISI’s work on this remarkable island and the wider APAC region.

“From the many important meetings I’ve had, one particular factor has struck me as recurring: the untapped potential in the Sri Lankan financial services market for learning and self development. Our colleagues, partners and supporters have enabled CISI to build not only our world class qualifications, but our wider continuing professional development offering, including professional assessments and integrity suite, which are so critical now for all professionals in keeping their skills current and relevant. The international financial services market is growing and I would encourage young Sri Lankans considering a career in finance to take a look at how CISI can help you accelerate and develop, both as an exam candidate but also a lifelong learner and CISI member.

“Sri Lanka has and is dealing with extraordinary economic challenges, the effects of the Covid 19 pandemic, fuel, gas and power shortages. What I have seen in my many meetings and visits is an equally extraordinary resilience and determination. We at CISI are proud of all our Sri Lankan staff, partners, members, board members and ATPs.”

Nandika Buddhipala said: “It has been my pleasure working with CISI since 2011 as a part of the National Advisory Council in Sri Lanka. CISI’s continuous engagement in its integrity suite emphasizing ethical behaviour and a strong governance framework is the cornerstone and foundation of financial markets. Improving levels of professional competence through raising individual standards of knowledge, skills and behaviour is gathering momentum during hard times.

“We were delighted to welcome Tracy Vegro OBE, CISI CEO at this critical juncture of our economy and encouraged with her enthusiasm, understanding and appreciation of our extraordinary resilience and determination as a nation. I together with my colleagues at the NAC are eager to work with her in order to enhance the skills of our professionals to be more competitive and impactful in the global financial market space.

“I believe CISI not only continuously enhances the standard of knowledge of the financial professionals in Sri Lanka, but can guide us through to further improve much needed Diversity, Equity, Inclusivity, and Belongingness (DEIB) within our corporate culture. It is more important than ever to encourage diverse views and innovation for us to weather through the circumstances which are radically different from what we have experienced in our life time.”

In addition to her meeting with CISI NAC President and Chief Financial Officer of Commercial Bank of Ceylon Nandika Buddhipala MCSI, Vegro also met with Kulendra Janaka, Head of Product Management and Business Analysis at the London Stock Exchange Group (LSEG), Kapila Dodamgoda of the Academy of Finance and Michael Fernandopulle, Head of Trade and Investment for the British High Commission Sri Lanka and the Maldives.

March 1, 2023

The industry leader with 5,000+ new investors introduced to the CSE via digital platforms
Completely seamless trading experience via mobile phone or device
Account Opening time cut down from 24-48 hours to under an hour

Colombo, 24th February 2023: Softlogic Stockbrokers, the full-service brokerage arm of Sri Lanka’s trusted financial partner, Softlogic Capital PLC, recently made waves in the financial services sector by introducing an industry-first digital solution for new investors joining the Colombo Stock Exchange. Through this innovation, new investors have the ability to open their Central Depository System (CDS) accounts on the CSE, in under an hour, shattering the 24-48 hour account opening timeline practiced in the industry. The innovation comes on the back of Softlogic being the first in Sri Lanka to onboard over 5,000+ clients through a 100% digital process, placing the company on the path for explosive growth.

Deployed in November 2022, the online platform is the first of its kind, and propels the Sri Lankan stock market forward by offering a seamless digital service for prospective investors to invest in the CSE with greater ease. The online platform is user-friendly and intuitive, making the account opening experience convenient, faster and more efficient.

Mr. Dihan Dedigama, Director/Chief Executive Officer, Softlogic Stockbrokers (Pvt) Ltd stated, “We are excited to launch a digital platform which makes investing in the CSE accessible to anyone from anywhere at anytime. Our teams have worked hard to develop this solution, and we are proud to be the first stockbroker company in Sri Lanka to offer this service.

Being the first to open 5,000 accounts digitally, we have been at the forefront of technological innovation and the online platform clearly displays our commitment to adapt, whilst providing our clients with the best possible trading experience. We look forward to continuously drive innovation and lead with novel solutions which will transform Sri Lanka’s capital market making it accessible in all parts of the country without the requirement for brick and mortar infrastructure.”

Over the past decade, Softlogic Stockbrokers has grown from servicing a handful of retail and institutional investors in their investments in stocks to supporting thousands of local and international clients to expand their wealth. The company is also home to a dedicated research team that is constantly studying the volatile market situations to produce market insights supporting their clients in making best financial decisions. This is achieved via collection of regular market and economic updates, investment ideas via social media platforms which includes WhatsApp updates, audio reports, webinars and in-depth research reports identifying new investment opportunities.

Mr. Iftikar Ahamed, Executive Director, Softlogic Stockbrokers (Pvt) Ltd added, “This solution was born out of a desire to digitize the elaborate financial system and encourage more Sri Lankans to begin investing in the stock market. Like most other sectors, it is vital that the finance industry is equipped to meet the dynamic needs and expectations of modern investors, especially in terms of convenience and time-efficiency. Customers today need quick and easy solutions, and that’s exactly what our online account opening system provides. We believe that this innovative offering will open the stock market to a whole new segment of prospective investors.”

Portraying the Company’s domain of expertise in research, Softlogic Stockbrokers was also recently recognized at the ‘CFA Capital Market Awards 2021’ for the best equity research report in Sri Lanka.

In addition to conducting media talk shows, offering trilingual investment advisories, public discussions with regulators and organizing local investor education forums in partnership with the Colombo Stock Exchange, the novel CDS account opening online platform will bring in new investors – positioning Softlogic Stockbrokers ahead of the curve once again.

February 13, 2023

One of the fastest-expanding and leading licensed finance companies in Sri Lanka, Mahindra IDEAL Finance, has expanded its presence once again, this time to include Kandana. A major transit point on the Colombo-Negombo main road, Kandana is a key commercial hub in the Gampaha District, home to a vibrant and diverse population of residents and local businesses and industries. The new Kandana branch of Mahindra IDEAL Finance is located at No. 24, Negombo Road, Kandana, and features a bright and modern atmosphere with all conveniences and facilities, including parking.

Commenting, Mr. Duminda Weerasekara – Chief Executive Officer at Mahindra IDEAL Financeat Mahindra IDEAL Finance said, “We’re incredibly pleased to add Kandana as our 27th location Island wide. We look forward to welcoming the local community, and passers-through, as they seek to fulfil their financial needs. We also look forward to providing world class opportunities for the best local talent in the area, as we grow and consolidate our human capital.”

Mahindra IDEAL Finance Limited (MIFL) is a Non-Banking Financial Institution (NBFI) registered with the Central Bank of Sri Lanka and commenced operations in March 2012 with a clear focus on the rural and semi-urban sectors. Its product portfolio consists of fixed deposits, gold loans and leasing facilities for motorcars, three-wheelers, agriculture vehicles and commercial vehicles. The Company has developed a quality lending portfolio, while recording sustainable annual growth in profitability through tough economic conditions. Mahindra IDEAL Finance Limited is backed by Mahindra & Mahindra Financial Services Limited, India, and has consistently and rapidly expanded its network in recent times, with a vision to transform itself into one of Sri Lanka’s foremost providers of financial services and growth opportunities.

January 24, 2023

The fully owned subsidiary of the Sampath Bank Group, Siyapatha Finance recently opened its 43rd branch in Kilinochchi extending its financial services to its valued customers in the Northern Province and continues its commitment to deliver service excellence.

Adding to its island-wide network, the Kilinochchi branch located at No. 317, Kakakadai Junction, A-9 Road, was ceremoniously declared open recently by the Managing Director of Siyapatha Finance Mr. Ananda Seneviratne in the presence of the Divisional Secretary of Karachchi Mr. Balasundaram Jeyaharan, Central Bank Regional Manager (Kilinochchi), Mrs. Karthika Nirojan and Senior Superintend of Police Mr. M.K.R.A. Gunarathna.

With the objective of engaging a more extensive audience and providing better customer experience to customers in the area, the latest fully-fledged branch claims modern facilities and is geared to provide the customers with comprehensive service offerings – including savings, fixed deposits, leasing, hire purchase, business loans, gold loans, personal loans, revolving loans, as well as factoring.

Sharing his thoughts at the branch opening, the Managing Director of Siyapatha Finance Mr. Ananda Seneviratne stated: “Kilinochchi is a city that is resilient, in the Northern province — a key contributor in the country’s economic system. This latest Siyapatha Finance branch is only one of the many initiatives we will take to ensure that we realize the untapped opportunities and capitalize on the full potential this region has to offer. In keeping with our brand promise to offer trusted financial solutions and provide our customers with the best possible service, the Kilinochchi branch, too, is fully equipped with an experienced and knowledgeable team of professionals who can meet the financial demands of its clients.”

Siyapatha Finance PLC is one of the prominent financial service providers with a network of branches throughout the country, which has designed its financial services to ensure that its customers are provided with the best in service delivery standards. Over the past seventeen years, the company has contributed vastly to the development of small and medium entrepreneurial efforts and to fulfilling individual financial needs across the island. Their dedication towards continuous expansion of their financial services is fueled by the drive to help communities achieve their business objectives.

For further information on Siyapatha Finance, call 021 7 605 625 or log on to www.siyapatha.lk.

December 19, 2022

December 16th, 2022: Sri Lanka’s leading integrated financial services provider HNB FINANCE PLC (HNBF) took home Silver, marking an admirable win in the Non-Bank Financial Institutions (Total Group Asset Above LKR 20 Bn) category, at the TAGS Awards 2022 on December 6, 2022, organized by The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka). The HNBF Annual Report for 2021/22 ‘Reaching for New Heights’ was presented with this award.

This recent win by the company is a testament to its commitment to overall excellence in its operations, especially in its corporate governance, annual financial reporting and sustainability. As a homegrown progressive entity in Sri Lanka’s NBFI sector, HNBF believes that maintaining transparency is critical towards ensuring an assured outcome for growth, as well as economic prosperity.

“We are honored to be bestowed with a Silver award in recognition of our company’s efforts in producing one of the best in class Annual Reports, and are thankful to the organizers and judging panel of the TAGS Awards 2022. I would also like to thank our staff, our Chairman Mr. Dilshan Rodrigo, as well as our Board of Directors for all their contributions towards ensuring transparency and efficiency in our overall operations.” commented HNB FINANCE PLC Managing Director and CEO Chaminda Prabhath.

The newly rebranded annual TAGS Awards, standing for Transparency, Accountability, Governance and Sustainability, aims to analyze the level of financial, environmental, social and governance reporting by companies, while also promoting the crucial need to increase transparency within companies which produce annual reports.

The awards’ objective is to encourage effective communication to stakeholders through publication of informative annual reports, promote effective presentation of financial and non-financial information, comply with legislative requirements and Sri Lanka Accounting Standards (SLFRS) and to encourage the adoption of best global reporting practices.

December 5, 2022

UB Finance Co. Ltd. one of Sri Lanka’s premier financial services providers celebrates 10 years of partnership with its parent company Union Bank of Colombo PLC in 2022. To mark this significant milestone, UB Finance launched the 31 for 31 seasonal offer giving its customers a 31-Month Fixed Deposit with an interest rate of 31% p.a. at maturity (A.E.R 25.57%) for a limited period.

Commenting on this milestone, Ms. Himali Perera, DGM Credit and Operations elaborated that “the uniqueness of the product was that it offered the customers an extremely attractive return on a medium term deposit enabling customers to almost double their investment in 31 months especially in these challenging economic times to somewhat offset the impact of inflation. This attractive offer is further enhanced by the trust and stability of the Union Bank Group”.

To open a 31-Month Fixed Deposit at UB Finance, customers could walk into any one of the 17 branches most convenient to them or call UB Finance on 0718 844 844 for further assistance and or information.

HNB FINANCE expands footprint with new branch in Maharagama

HNB FINANCE launches new Gold Loan Unit at Homagama branch

HNB FINANCE PLC launches new Gold Loan Unit at Morawaka branch

M Power Capital enters a new era of leadership

Untapped potential for learning and development in SL financial services market: CISI CEO Tracy Vegro

Softlogic Stockbrokers launches digital on-boarding

Mahindra IDEAL Finance Expands to Kandana, Bringing World-Class Financial Services to a Thriving Commercial Hub

Siyapatha Finance continues its network expansion with its 43rd branch in Kilinochchi

HNB FINANCE bags Silver at TAGS Awards 2022

UB Finance rings in the season with 31 for 31 Fixed Deposits