PLC Archives

April 18, 2024

The Classique Centre by People’s Leasing & Finance (PLC), which was designed and built around the concept of green building, is a true example of the fusion of product innovation and sustainable transformation, redefining the financial services landscape. Recognizing this quantum leap forward in green building, together with the facility’s outstanding incorporation of sustainability, and its integration of smart technology, the Classique Centre has now earned distinction as Sri Lanka’s 1st EDGE-Certified Green Building. EDGE, an acronym for “Excellence in Design for Greater Efficiencies”, represents a free software, a green building standard, and an international green building certification system, developed by the International Finance Corporation (IFC), a member of the World Bank Group.

Under the leadership of the former CEO, Mr. Shamindra Marcelline’s visionary roadmap for sustainable finance and Environmental, Social, and Governance (ESG) initiatives, PLC embarked on the journey to achieve EDGE Certification for its Classique Centre. This initiative was undertaken with the expertise and guidance of co-energi (Private) Limited, an independent specialist provider of sustainable and resource-efficient designs in building engineering services. EDGE Certification sets a benchmark, requiring a minimum projected reduction of 20% in energy use, water use, and embodied energy in materials compared to standard local buildings. This certification empowers organizations in emerging markets to adopt sustainable building practices in a fast, easy, and affordable manner.
Mr.Pradeep Amirthanayagam, Chairman at PLC commented saying, “While we thank our former CEO Mr. Shamindra Marcelline for this initiative, we take immense pride in achieving Sri Lankas First EDGE certification for our Classique Centre. This accomplishment reflects our unwavering commitment to our Environmental, Social and Governance (ESG) journey towards sustainable investments. The strategies we’ve integrated into the building’s design for energy efficiency, water conservation, and reduced emissions have been rigorously verified by Transgreen Sustainability Solution – Indian EDGE auditor and certified by Green Business Certification Inc. (GBCI), clearly establishing the Classique Centre as a pioneering achievement in sustainable building practices in Sri Lanka. Classique embodies PLC’s dedication to providing unparalleled financial services whilst minimizing our impact on the environment, and we invite all customers and stakeholders to join us on this journey as we, ‘Go Green’.”
Committed to a sustainable future, PLC has incorporated rainwater harvesting system and renewable energy solutions within the Classique Centre, amongst many other sustainable mechanisms and strategies, as part of its “Go Green” effort, exemplifying its dedication to environmentally conscious practices. Notably, the Classique Centre extends its commitment to sustainability initiatives by providing free electric vehicle charging service to its clientele, contributing to the growing demand for eco-friendly transportation support services in Colombo.
Classique by PLC not only represents a groundbreaking achievement in sustainability but also offers the most premium customer experience as a complete bespoke financial services proposition. With a focus on customer-centric convenience, Classique offers a dedicated trilingual Relationship Manager for personalized support, exclusive financial products tailored to individual aspirations, and a range of privileges including special rates for insurance and enhanced withdrawal limits on complimentary debit cards. Embracing the digital age, Classique provides seamless internet banking and digital financial services too, ensuring customers can access their finances with the utmost convenience. Classique customers also enjoy additional perks such as invitations to exclusive events, including seminars and networking sessions, while also having the ability to make use of the elegant and functional Classique Boardroom for private meetings and important decision-making.
Having now achieved EDGE Certification, the Classique by PLC proposition stands as the benchmark for sustainability, innovation, and customer convenience, underpinned by cutting-edge technology, to deliver the best-in-class premium financial services proposition from Sri Lanka’s largest and most reputed non-banking financial services provider, People’s Leasing and Finance PLC.

April 8, 2024

Sri Lanka’s leading non-banking financial services provider, People’s Leasing & Finance PLC (PLC), recently announced the launch of two networkwide digital initiatives, PLC eDoc and PLC eReceipts. These systems mark a significant stride for PLC towards further strengthening its digital infrastructure. The move also further cements PLC’s commitment to sustainability, aligning with its overarching goal of reducing its carbon footprint while enhancing customer convenience. The total solution that is eDoc and eReceipt was designed and developed by PLC’s homegrown Software ICT Development Team, demonstrating the company’s commitment to technological innovation and digital enablement.

Accordingly, PLC eDoc is a milestone achievement in streamlining operations and minimizing paper consumption. This revolutionary product offers customers and the business a centralized portal to access and manage all electronic documents, seamlessly. From traditional receipts to SMS communications and customer correspondences, PLC eDoc consolidates diverse document types into a user-friendly platform.

Complementing this digital platform, PLC eReceipts offer customers a modern alternative to traditional paper receipts. Through digital delivery via SMS messages and unique web URLs, PLC eReceipts ensure instant access to transaction details anytime, anywhere. Customers can conveniently download and share their digital receipts as well, eliminating the need for physical copies and reducing paper waste.

Prabath Gunasena – Senior Deputy General Manager – IT of People’s Leasing & Finance PLC commented saying, “The rollout of these digital solutions reflects our deep commitment to fostering a sustainable, green future. Through a reduction in our reliance on paper, we are both promoting environmentally-friendly practices, and delivering a seamless and convenient customer experience. Thus, the introduction of eDoc and eReceipts reflects our unwavering dedication to digital transformation and environmental stewardship.”

As a result of digitizing manual documents and embracing paperless operations, PLC is achieving its dual objective of improving operational efficiency and furthering its sustainability goals. By providing customers with efficient digital solutions, PLC is also demonstrating its leadership in driving the digital transformation within the non-bank financial services industry in Sri Lanka.

March 8, 2024

People’s Leasing & Finance PLC (PLC) is an organization built on a foundation of unwavering dedication to gender equality and inclusion. With a firm commitment to eliminating gender discrimination, PLC has implemented extensive mechanisms and programmes to ensure that women have the support they need to achieve their fullest potential. By working to ensure that women are able to progress into senior management effectively, the company is building a diverse and dynamic work environment, enriched by a multitude of perspectives and ideas. Furthermore, PLC’s efforts to #InspireInclusion work to empower women at all levels of the organization.

Recognizing the importance of work-life balance, PLC acknowledges the unique challenges that women may encounter in juggling professional and personal responsibilities. To address this, PLC has implemented policies designed to support women in achieving a harmonious equilibrium between their work and personal lives. From comprehensive parental leave to flexible work arrangements, PLC strives to create an environment where every employee, especially women, can flourish. The company’s support for women also extends to its financing activities, with PLC providing special attention to equal-opportunity employers and women entrepreneurs, whilst providing necessary technical support.

Expressing PLC’s commitment to women, Shamindra Marcelline – CEO said, “Every day, and with every decision, we work towards fostering a culture of diversity, equity, and inclusion. We firmly believe that by providing equal opportunities for everyone, regardless of gender, we can create a workplace where all individuals can thrive and succeed. At PLC, women are valued as individuals who are integral to our success, with the ability to uniquely contribute to our vision. As the world celebrates International Women’s Day 2024, PLC stands in solidarity with all women in Sri Lanka, and across the world. Together, let us continue to champion gender equality, not just today, but every day, as we work towards creating a world where every woman and girl can realize her maximum potential.”

In keeping with the theme for Women’s Day 2024 – #InspiringInclusion – PLC has organized a range of special programmes and initiatives. These include an organization-wide women’s health awareness drive and several other internal initiatives tailored to different levels of the organization. Together, these initiatives embody PLC’s dedication to empowering women and promoting inclusivity within the workplace.

March 6, 2024

Staying Ahead in Times of Change – PLC’s Remarkable Resilience & Vision for the Future

In an exclusive interview with the DailyFT, PLC’s Chief Executive Officer, Shamindra Marcelline, sheds light on the company’s exceptional performance amidst economic turmoil, revealing strategic insights and commitments to sustainability and innovation.

FY 2023/24 is turning out well for PLC, having posted a 30.8% growth in PAT YoY in the first 9 months alone. What factors do you feel were most important in achieving these results?

Our achievements are the result of well-thought-out strategic decisions made in the previous year. Our focus on liquidity during economic challenges has paid off, allowing us to safeguard our depositors’ interests.

One significant aspect is our unwavering dedication to our staff, particularly amidst the various challenges that have affected Sri Lanka. Despite facing hurdles such as the Easter Attacks, the subsequent period impacting tourism, the COVID-19 pandemic, political and economic challenges, our committed team has remained steadfast. Their resilience serves as a cornerstone of our success, as evidenced by the positive value we continue to deliver to our stakeholders.

Navigating through the economic challenges in 2022/23 required agility. I am pleased to say that we’ve achieved significant progress in adapting to the changing market environment—a notable accomplishment given the dynamic landscape. As we advance on our path towards growth, it’s crucial to emphasize our positive and accelerating momentum. We are dedicated to overcoming challenges and driving prosperity, positioning us for solid performance in the future.

In acknowledging the global nature of the crisis, we also recognize opportunities amidst challenges. As the world grapples with conflicts in Europe and the Middle East, we remain ready to capitalize on emerging prospects. Our readiness, aligned workforce, and robust business foundation position us optimistically for future growth.

As we weather the storms, we’re not just isolating ourselves to local issues but rather seeing local opportunities within a broader global context. This pivoting of strategy and reorientation of approach is, I believe, what has allowed us to make this quick but sustainable turnaround.

How are you adapting to the ongoing brain drain and talent crisis?

We have made their wellbeing a top priority. Upholding fairness and equality for all staff, we have provided protection from financial turmoil while ensuring minimal impact on our operations. This unwavering commitment to our workforce has yielded positive outcomes, empowering us to successfully navigate through this crisis.

Our commitment extends beyond finance and remuneration, with PLC investing significantly in the overall ecosystem of our team, focusing on health, promotions, and development. Emphasizing training and development, we identified and promoted emerging talent, at times providing double promotions to better align with their career aspirations and meet succession planning needs.

In the face of a prevalent flight risk across industries, our efforts to retain key staff have proven successful. Despite the tempting allure of competition and opportunities beyond our shores, our key team members have chosen to grow with PLC, a testament to the positive work environment and opportunities we provide.

Managing a business, especially during challenging times, hinges on a unified and well-supported team. Our key achievement lies not just in financial numbers but in the unity and commitment of our staff. Their loyalty and growth within the company reinforce our belief that a well-cared-for team is the cornerstone of exceptional excellence.

PLC’s commitment to sustainability is clear, particularly through its recent partnership with LEMS in a bid to bring battery swapping tech for three-wheelers to Sri Lanka. Can you discuss what sustainability means to you and how your initiatives are paying off?

The initiatives undertaken in 2023, including the collaboration with Lanka Energy Mobility Services (LEMS) and the inauguration of our exclusive Classique proposition and bespoke financial services hub, underscore PLC’s unwavering commitment to sustainability. It’s crucial to understand that sustainability, in our context, transcends traditional CSR. Our goal is not merely charitable contributions but a profound transformation in line with global best practices, where everyone wins.

As a state-owned enterprise, our objective is to emulate the success of models like Singapore’s Tamasek; as we aspire to be the most respected SOE. Acknowledging the global shift towards sustainability, we recognize the need to align with this trajectory. Our recent endeavours represent only a small spectrum of our broader strategy, however.

Sustainability, for us, is not a shortcut but a long-term investment in the future. We understand that economies and societies of the future demand a business model that incorporates environmental consciousness in a way that encompasses the entirety of our operations. Accordingly, our leadership is acting as the driving force, setting a strong example and advocating for best practices from within, through a top-down approach.

Our commitment in this sphere also extends to our product range, with present and future offerings deeply rooted in sustainability. We acknowledge the challenges this poses for Sri Lanka but firmly believe that, given the right push, adaptation will follow. Financing in the future will be conditional, favouring green and sustainable initiatives. We are pioneering this shift, leveraging our unique position as a financier, which gives us the ability to influence sustainable development, positively.

Our partnership with Lanka Energy Mobility Services for electric three-wheel battery swapping technology thus aligns with our focus on sustainable transport. We are also actively exploring renewable energy financing products, recognizing the long-term cost-effectiveness of such ventures. Our buildings will undergo transformation into energy-efficient spaces, emphasizing digitalization to reduce reliance on traditional brick-and-mortar structures. We have seen the beginnings of this with our Classique Centre.

COVID-19 has also prompted us to rethink our business model, ensuring it aligns with the future. While maintaining a presence, our branches may also evolve into bespoke, boutique-style spaces. This strategic realignment not only reflects our commitment to environmental responsibility but positions us for a sustainable and successful future.

Tech is driving innovation in finance, and PLC is one of those leading the charge. What are some of the key achievements in this area and how is it transforming the space?

The events of 2020 made clearer than ever the need for a profound shift from our paper-driven processes. Thus, we embarked on a comprehensive digital transformation journey, which is now bearing fruit in 2024. The transformation began with a significant reduction in paper usage, down to 30% of previous levels. This translated to a 70% saving in paper costs and unlimited benefits in terms of efficiency and accessibility.

Our move towards digital signatures, e-memos, and the elimination of physical board meeting documents were then to follow. Amidst an inflationary environment, these changes also happily helped keep operating costs down through enhanced operational efficiency.

Transposing our internal digital transformation externally, we embraced digital platforms for vehicle auctions, eliminating the need for physical auction centres. Digitalization of branch processes drastically reduced the need for courier services, cutting down on both costs and carbon emissions.

In fact, our Classique Centre – a sustainable building – embodies this transformation and exemplifies our commitment to an ecofriendly future; with hybrid solar-powered and paperless operations, customer confirmations are sent through digital channels, contributing to reduced environmental impact. These kinds of innovations will soon rollout networkwide changing forever how we do things; and for the better.

Internally developed processes like Payments and Cash Management further streamlined our operations. Customers can now collect payments from any branch, for example, eliminating the need for physical cheques and multiple couriers. Our credit application process is now entirely phone-based, bringing further standardization and efficiency.

In fact, our efforts in this regard were recognized at the prestigious National Best Quality Software Awards (NBQSA), where PLC received the Special Award for Best Digital Process Enabler of the Year and a Merit Award for In-house Development for our “PLC TOUCH” integrated total solution—a seamless digital touchpoint addressing all customer needs. These achievements clearly demonstrate our commitment to digital process enablement, with a focus on streamlining operations and elevating service delivery.

Thus, our digital transformation has not only improved operational efficiency but also vastly improved customer experiences. Looking immediately ahead, our focus remains on successfully implementing eKYC (electronic know your customer protocols), reducing and even eliminating the need for physical branch visits, whilst collaborating with partners like Mobitel for efficient and reliable, seamless payment processes. This holistic approach to digital transformation positions us for a future where customer service, operational effectiveness, cost savings, and sustainability go hand in hand.

Amidst a challenging economic landscape and an ever-evolving financial services space how do you see PLC evolving and staying ahead?

We recognize the transformative power of AI and are keenly aware of its potential applications in areas such as insurance assessments and vehicle valuations. To stay ahead, we are committed to adopting AI-driven solutions to enhance services and bring greater efficiency to the industry.

Collaboration is also key in this journey. We aim to work closely with regulatory bodies, such as the Department of Registration of Persons, the Registrar of Motor Vehicles, the Department of Inland Revenue, Sri Lanka Customs, and emissions testing service providers, along with other partners, to ensure a seamless customer experience and a robust, transparent value chain. The goal is to ultimately create a shared database and a unified platform for seamless information flow between stakeholders in the space. This collaborative effort will not only ensure accuracy but also contribute to a cleaner and more transparent industry.

We pledge our commitment to working towards this visionary future, and invite all stakeholders and participants to join us. Public-private partnerships will be key towards achieving this vision and we believe we are in an excellent position, having an SOE as our parent company, and being one of the largest player in the non-banking financial services space, to facilitate this transformation. We also take this opportunity to recognize the exceptional leadership the Regulator(s) are providing, to the industry as a whole, as we make this transformation.

Looking ahead, our primary strategic goal is to embrace fintech wholeheartedly. We understand that the future belongs to those who adapt, and migrating to fintech platforms is the next logical step. To thrive in a competitive global landscape, we must modernize our thinking, uplift our workforce, and be ready for the wave of technological advancements that are incoming.

Over the next 10 years, the financial services industry will witness a paradigm shift. Survival and success will hinge on our ability to accelerate towards embracing the digital future of finance. With our fantastic team as our strength, our professional and competent leadership as our lever, and our robust financial position as our fulcrum, we are confident of achieving these strategic goals in Sri Lanka’s ever-evolving financial services space.

February 13, 2024

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People’s Leasing & Finance PLC (PLC), a leading non-banking financial services provider in Sri Lanka, reported robust financial performance for the third quarter of fiscal year 2023/24, indicating positive growth and stability amidst a competitive marketing environment. Profit After Tax (PAT) reached Rs. 2,141 million for the 9-month period, with Q3 of FY 2023/24 contributing Rs. 1,039 million, with a notable increase of 30.8% compared to the corresponding period in the previous fiscal year. This growth, attributed to the reversal of impairment charges and other losses, underscores PLC’s commitment to financial excellence and strategic financial management.

Despite a moderated Interest Income for the period, PLC recorded a commendable rise of 2.8% in Net Interest Income for Q3 of FY 2023/24, indicating effective financial strategies and prudent management practices.

PLC’s focus on enhancing credit quality and promoting collections has yielded positive results, with Impairment Reversal for the nine months ended December 31, 2023, amounting to Rs. 114 million. Notably, Impairment Reversal for Q3 2023/24 surged by 94.4% compared to the corresponding period in the previous year.

With a continued focus on right-sizing its balance sheet and loans and receivables portfolio, PLC has demonstrated strength in navigating a positive business environment with changing market dynamics. As of December 31, 2023, the Total Asset Base stood at Rs. 156,007 million, while the Total Loans and Receivables Portfolio amounted to Rs. 102,275 million.

Commenting on the financial performance, Shamindra Marcelline, CEO of PLC, stated, “We have strategically navigated through evolving market conditions to achieve exceptional profitability and profit growth, while fortifying our balance sheet and mitigating impairment risks. With the emerging economic recovery, PLC is positioned to seize opportunities and sustainably deliver value to stakeholders.”

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In addition, the PLC Group reported a notable increase of 23.2% in PAT for the nine months ended December 31, 2023, reflecting positive growth momentum. The Group’s Total Assets and Loans and Receivables portfolio remain substantial, further solidifying PLC’s position as a leading player in Sri Lanka’s non-banking financial services sector.

With its robust financial performance and strategic adaptability, PLC remains dedicated to driving substantial contributions to the economic prosperity of Sri Lanka, upholding its esteemed legacy as a dependable financial partner.

December 14, 2023

People’s Leasing & Finance PLC (PLC) – Sri Lanka’s leading non-banking financial services provider – continues its commitment to social responsibility with a recent project to support the sporting passions and aspirations of rural schoolchildren, leaving a lasting impact on the community. The project involved the donation of spiked running shoes to athletes of the sports academy at CP/W/A Rathnayaka Central College, Menikhinna.

This project was inspired as a result of PLC’s support of Ms. Tharushi Senarathna, the accomplished female athlete who recently brought pride to Sri Lanka by winning a gold medal in the Women’s 800m at the Asian Games. As an alumna of CP/W/A Rathnayaka Central College, Ms. Senarathna’s success exemplifies the school’s commitment to producing high-achieving athletes.

In fact, the athletes at CP/W/A Rathnayaka Central College have consistently demonstrated excellence by securing victories in all-island school competitions and earning numerous medals at national-level athletic events. Recognizing the dedication and talent of these students, PLC undertook this initiative to provide much-needed running shoes to the athletes.

As communicated by the Principal of CP/W/A Rathnayaka Central College, where a dynamic group of over 70 students actively engages in athletics, PLC, has extended its support to a selected group of deserving athletes, identified for their commitment and talent, now have the essential athletic gear required to pursue and excel in their passion for sports. PLC, through this strategic collaboration, continues to demonstrate its commitment to nurturing and empowering talented individuals within the community, contributing to the development of aspiring athletes.

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CEO and General Manager, Mr. Shamindra Marcelline commented saying, “At PLC, we believe in helping people; no matter who they are, we want to support people and take a risk on their behalf so they can shine as stars and bring glory to themselves and the country. This social upliftment project thus reflects our dedication to empowering the younger generation, fostering talent, and contributing to their holistic development. We are proud to support the athletes of CP/W/A Rathnayaka Central College and contribute to their educational journey. We wish them all the very best and hope to see some rising stars in the future. Furthermore, we are also willing to provide up to three employment opportunities for students from the school, annually. This opportunity is open to promising students, providing them the benefit to chase their aspirations in sports and pursue a fulfilling career to secure financial support.

Athletes face an increased risk of injuries, some with the potential for permanent or partial disability, impacting both their performance and income. Recognizing these challenges, PLC has offered Ms. Tharushi Senarathna a complimentary and comprehensive disability insurance plan, valid for the next 10 years. This coverage ensures that in the event of any incidents occurring within the next decade, she retains the ability to make a claim. Additionally, PLC is providing internal employment opportunities to contribute to securing her financial stability while she continues to pursue her sports career. Such initiatives, aligned with broader Environmental, Social, and Governance (ESG) principles and goals, underscore PLC’s commitment to responsible corporate practices, positively influencing the future generations of Sri Lanka.

November 17, 2023

People’s Leasing & Finance PLC (PLC) reported strong financial performance for the second quarter of the financial year 2023/24, recently, demonstrating unwavering resilience and a commitment to excellence, achieving significant year-on-year increases in Profit After Tax (PAT) for both the company and the Group.

For the first six months of FY 2023/24, PLC recorded a robust Profit After Tax (PAT) of Rs. 1,100 million, marking an impressive 62.0% increase compared to the corresponding period in the previous financial year. The second quarter was particularly outstanding, with a 54.6% increase in PAT, reaching Rs. 767 million, contributing significantly to profitability for the period ending 30^th September 2023. Meanwhile, the PLC Group also achieved a Profit After Tax of Rs. 1,678 million during the first six months of FY 2023/24, reflecting a substantial year-on-year increase of 35.8%. Net Interest Income for the Group for the period ending 30^th September 2023 reached Rs. 6,495 million.

Interest Income for the half-year ending 30^th September 2023, witnessed a year-on-year increase of 3.7%, reaching Rs. 14,714 million. This increase can be attributed to a substantial rise in investments, driven by escalated interest rates in the country. The Company achieved significant year-on-year profit growth through improved collections and intensified credit quality which led to 91.3% reduction in impairment charges and other losses on loans and receivables, recorded at just Rs. 162 million, as at 30^th September 2023.

An 8.2% decrease in Interest Expense during the quarter compared to the corresponding quarter of the previous financial year is indicative of PLC’s ability to capitalize on the recent policy rate drop through prudent management of funding lines. This enabled PLC to record Rs. 2,854 million Net Interest Income during the second quarter up by 8.6% compared to the second quarter of Financial Year 2022/23.

In spite of the inflationary environment in which it operates, PLC successfully curtailed the growth in operating expenses to 3.8% compared to the same period in FY 2022/23 owing to the improved efforts to increase efficiency through digital initiatives, right-sizing of branches, and improvements in internal processes, . Additionally, operating expenses of the Group experienced a modest increase of 2.4% compared to the same period in the previous financial year.

PLC’s Total Asset Base as at 30^th September 2023 was Rs. 153,817 million, while Total Loans and Receivables amounted to Rs. 100,833 million, consolidating its position as one of the largest loans and receivables portfolios in the industry, despite limited business expansion on account of the challenging economic environment. The Total Asset Base of the Group as at 30^th September 2023 was Rs. 179,758 million, while the Group’s Total Loans and Receivables portfolio amounted to Rs. 113,512 million.

PLC’s concerted efforts with regard to collections enabled it to manage a majority of funding requirements via collections, and thus remain vigilant in growing the Deposit Base amidst a high interest environment. Nevertheless, deposit base remained robust at Rs. 93,197 million as of 30 September 2023. The Group’s Deposit Base also stood at Rs. 101,101 million as of 30^th September 2023. Furthermore, PLC implemented a highly disciplined strategy to liquidity management in the middle of a highly volatile and complex business endeavor and maintained capital adequacy ratios well ahead of the regulatory minimums at the end of Q2 to guarantee financial stability..

Commenting on the financial performance, CEO/General Manager at PLC, Shamindra Marcelline said, “Our exceptional Q2 performance underscores our ability to navigate a complex, dynamic, and challenging business landscape. It also demonstrates our unwavering commitment to our valued customers and the strength of our operational fundamentals. Even in the face of adversity, we remain steadfast in delivering financial solutions that empower individuals and businesses, contributing to the economic prosperity of all Sri Lankans.” These remarkable financial results highlight PLC’s unwavering commitment to delivering financial solutions, fostering growth, and contributing to the economic prosperity of all Sri Lankans. The company’s resilience, strategic adaptability, and dedication to excellence continue to be the driving forces behind its success. Accordingly, PLC remains a leader in the non-banking financial services sector, embodying innovation and trust, and enriching lives.

November 6, 2023

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Sri Lanka’s premier non-banking financial institution (NBFI), People’s Leasing & Finance PLC (PLC), recently celebrated World Children’s Day in a heartwarming fashion, highlighting its commitment to the community. The PLC Sports & Welfare Society, for the second consecutive year, hosted a vibrant Talent Show Competition for the children of PLC employees across the Island, showcasing the company’s dedication to nurturing the creative talents of the future generation.

The competition, held in celebration of World Children’s Day 2023, featured an array of categories, including Art, Singing, and Dancing, with participants divided into five age groups: below 05, 5-8, 8-11, 11-14, and 14-17. A total of over 100 entries were received for the art category, 63 for singing, and 42 for dancing, reflecting the enthusiasm and creativity of these young and budding talents.

To ensure a fair evaluation, PLC appointed an independent panel of judges comprised of nine experienced teachers, with each category being assigned three teachers with specialized expertise in the relevant category. These educators played a crucial role in assessing the participants and providing objectivity, transparency, and professionalism to the competition. The panel of judges then carefully selected 45 children from across the competition categories as winners.

To recognize the winners, a special Award Ceremony was held on the 3^rd of November 2023, at the Orchid Auditorium – BMICH, Colombo where PLC’s Chief Executive Officer and General Manager, Mr Shamindra Marcelline, was present as the Chief Guest. The ceremony was attended by the 45 young winners, their proud parents, representatives from PLC’s Corporate Management Team, the distinguished Panel of Judges, and representatives from the PLC Sports & Welfare Society, along with other special guests.

Commenting on the initiative, CEO and General Manager, Shamindra Marcelline said, “The theme of our program this year – “Reimagining a Better Future for Our Children” – emphasizes the vital role that the younger generation plays in safeguarding our planet for future generations. It is a poignant reminder that our children are the future stewards of the planet, and responsible for ensuring its wellbeing. We are pleased to have engaged the kids, supported their passions, and provided them with an unforgettable experience to mark World Children’s Day.”

To kickstart the event, every child was presented with a thoughtful gift; red, blue, and black ‘eco-plantable’ pens, symbolizing PLC’s commitment to nurturing a sustainable future. This gesture echoes PLC’s dedication to protecting the planet, as the pens, which are made of biodegradable materials and contain seeds, can be planted once they have been used. Each of these pens also contributes towards less plastic added to the environment.

The winners of the competition received a range of accolades, including certificates, gold, silver, or bronze medals, and valuable gifts, acknowledging their exceptional creative and artistic skills. In a heartwarming gesture, every participant was also honoured with a Certificate of Appreciation to recognize their enthusiasm for being a part of this initiative.

The ceremony was further elevated by a captivating live performance by the renowned singer, Harshana Dissanyakae, adding a delightful vibe to the event. Additionally, the winners of first and second place in the 14–17 age group singing competition performed a duet, leaving the audience thoroughly entertained.

Following an engaging morning session at PLC’s Head Office with the CEO/GM, the 45 winners and their parents/guardians were also taken on the delightfully iconic Colombo City Tour on the much-loved open-air double-decker bus. This tour included visits to major landmarks such as the Colombo Lotus Tower and Port City Colombo, making the occasion truly unforgettable for the kids.

In hosting its annual Kid’s Talent Show Competition, PLC has once again demonstrated its strong sense of responsibility towards the community, and its focus on sustainability, nurturing the creative spirit of the younger generation and envisioning a brighter future for our children. Through initiatives like these, PLC is setting a remarkable example for corporate social responsibility in Sri Lanka and beyond.

November 1, 2023

People’s Leasing Company PLC (PLC) is not only the market leader in Sri Lanka’s non-banking financial services (NBFS) space but is also at the forefront of the digital transformation in the sector. Further solidifying this reputation, PLC’s digital process enablement and tech innovation initiatives were recognized with prestigious awards at the National Best Quality Software Awards (NBQSA) – organized annually by the British Computer Society (BCS) Sri Lanka, and widely regarded as the most prestigious platform for achievements in software/digital services in the Island.

Accordingly, PLC won the Special Award for Best Digital Process Enabler of the Year, along with a Merit Award for In-house Development, recognizing the “PLC TOUCH” integrated total solution, which is PLC’s seamless integrated digital touch point for all customer needs. The Awards were presented to PLC at the NQBSA Awards Ceremony held recently and were accepted on behalf of the company by Mr.Prabath Gunasena – DGM ICT. Notably, PLC was the only non-banking financial institution to win such recognition at the NQBSA, out-competing other larger banks and its peers in the NBFS sector.

Mr. Shamindra Marcelline, CEO at PLC, commented on this significant milestone, stating, “Our journey into digital transformation began in 2021, driven by our unwavering commitment to our customers. We recognized the evolving shifts in consumer behavior and needs within the rapidly changing digital landscape. Understanding the potential of digital enablement for streamlining processes and enhancing service delivery, we have remained at the forefront of the industry in terms of innovation, adoption, and implementation of digital solutions for our valued customers. Receiving these prestigious awards, particularly the Best Digital Process Enabler accolade, validates our capacity for innovation and our dedication to providing a seamless customer experience. We seize this opportunity to reiterate our commitment to our customers and eagerly anticipate the introduction of many more groundbreaking and customer-centric digital solutions in the future.”

The NQBSA Awards are highly competitive, with each candidate being rigorously scrutinized by a distinguished independent panel of expert judges. The award for Best Digital Process Enabler of the year is particularly coveted and hotly contested, as every participating candidate is automatically eligible for consideration for this very special open award. The decision to present this award is affected by a number of criteria including uniqueness of technologies, innovation, and trendsetting; value delivered to the organization and its social impact including UI/UX design, transparency, and impact on quality of life; functionalities and features including user convenience and process automation; and business impact including operational efficiency and resultant new business opportunities.

Emphasizing the significance of the award for Best Digital Process Enabler, Prabath Gunasena – DGM-ICT at PLC added, “The category for Best Digital Process Enabler is an open category, which means that we were not only competing against our peers in the NBFS arena but also against big banks and major players from other diverse sectors that may or may not be related to finance. This truly underscores our commitment to digital enablement both internally and externally, along with our thirst for innovation and seamless service delivery. Furthermore, as a responsible corporate citizen, we are also pleased to be contributing to the national drive towards digitalization, and also towards achieving our ESG goals, and furthering the national effort towards the UN SDGs through the reduction of paper use and energy consumption.”

This is not the first time that PLC has received recognition for its digital innovation and service delivery. In 2017, PLC emerged as the Gold Winner of the Financial Industry Category at APICTA 2017 in Bangladesh for its Selfecash solution. The same year, Selfecash also won the Gold Award in the Inhouse Category at the NBQSA, while also winning a Merit Award in the Financial Application Category for its ‘Margin Trading System’. Meanwhile, in 2016, the People’s General Insurance System (PGIns) won the Bronze Award at the NBQSA in the In-house Category. These achievements demonstrate PLC’s continued commitment to customer-centric solutions and digital enablement, pushing firmly towards the digital future.

People’s Leasing & Finance PLC, a licensed non-banking financial institution in Sri Lanka, is renowned for its innovation and unwavering commitment to providing tailored financial solutions. With a solid foundation, a diverse product portfolio, and a commitment to excellence, PLC has emerged as a leader in the financial services sector. As a subsidiary of People’s Bank, PLC continues to strengthen its position as a trusted and respected provider of financial services, fostering growth and prosperity for the people of Sri Lanka.

October 26, 2023

The exceptional reporting standards of People’s Leasing and Finance PLC (PLC), the leader in Sri Lanka’s non-banking and financial services sector, were recently recognized at the Excellence in Integrated Reporting Awards. This Award was held for the 9^th consecutive year by the Institute of Certified Management Accountants of Sri Lanka (CMA Sri Lanka), to promote excellence in integrated reporting among Sri Lankan companies, both listed and unlisted. Integrated reporting is a means to explain how an organization creates, preserves, or erodes value over time while benefiting stakeholders.

PLC’s Annual Report for 2022/23, ‘Multi-Dimensional’ once again emerged triumphantly at these awards which were presented at a gala ceremony held on the 6^th of October at the Taj Samudra, Grand Marquee. During this occasion, PLC managed to secure two main awards; the “Best Integrated Report – Finance & Leasing – State” and recognition as being among the “Ten Best” Integrated Reports, further cementing its reputation as a leading financial institution committed to transparency and value creation.

Mr. Shamindra Marcelline – CEO at People’s Leasing & Finance PLC expressed his positive sentiments noting, “Our dedication to excellence in financial reporting and integrated reporting is a testament to our commitment to responsible and transparent business practices. These awards motivate us to strive for even greater heights and deliver exceptional value to our stakeholders.”

Chief Financial Officer at People’s Leasing &Finance PLC, Mr. Omal Sumanasiri, echoed these sentiments adding, “We are grateful and honoured to have won these prestigious awards. Since embarking on our integrated reporting journey in 2014, the Company has proven its dedication to continuously enhancing integrated reporting while concentrating on guiding principles including reliability, completeness, consistency, and comparability. This will continue our reporting journey towards a more sustainable, innovative, and customer-centric future.”

People’s Leasing & Finance PLC, a licensed non-banking financial institution in Sri Lanka, is renowned for its innovation and unwavering commitment to providing tailored financial solutions. With a solid foundation, a diverse product portfolio, and a commitment to excellence, PLC has emerged as a leader in the financial services sector. As a subsidiary of the People’s Bank, PLC continues to strengthen its position as a trusted and respected provider of financial services, fostering growth and prosperity for the people of Sri Lanka.

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