SDB bank and DIMO in partnership to offer special leases for Mahindra tractors

Monday, 7 October 2019 08:58 - - {{hitsCtrl.values.hits}}

SDB bank and DIMO officials at the official MOU signing

SDB bank, one of Sri Lanka’s leading financial services providers with strong roots in the rural sector, has entered into a partnership with DIMO to offer special leasing facilities for Mahindra tractors. The special leasing facilities are tailored towards the agricultural sector and smallholder farmers. The official singing of the MOU signifying the partnership between these two leaders in their respective business sectors took place on 23 September at the DIMO Head office. SDB bank CEO Thilak Piyadigama signed on behalf of the bank, whilst CEO DIMO A. G. Pandithage signed on behalf the company.

SDB bank Head of Leasing Ranjeev Beadle

The special leasing facilities will be available for both ranges of tractors including the 2x4 and the 4x4. Customers are also entitled for numerous benefits exclusively from SDB bank in partnership with DIMO, including leasing facilities of up to 85% of the value of the tractor which are normally unavailable in the market, and the flexibility to make payments either monthly or seasonally, a feature very important to rural farmers. Facilities are available for up to five years or 10 seasonal payments. Other benefits included are the free issuance of two front tires, flexible leasing solutions that can be tailored to individual requirements, minimum documentation and quick approvals, attractive discounts for early settlement with no extra or hidden charges or fees whatsoever.

Discussing the partnership SDB bank Head of Leasing Ranjeev Beadle said, “Being deeply rooted in the rural community, we personally understand the needs of our customers, proactively providing solutions to them while working as business partners. This is attested by the fact that unlike other conventional leasing companies, we levy no extra charges or fees for early settlement, simply because we believe in ethical business. That is why we worked towards this landmark partnership to provide benefits to our customers. DIMO is a market leader in Sri Lanka, representing many reputed international brands, and we at SDB bank are proud to enter into this partnership with them. As two leaders in our individual market sectors, there are many synergies that will arise out of this partnership, which will benefit our customers and as well as both organisations. Through this partnership, we look forward to helping Sri Lanka’s agricultural farmers maximise their potential as they feed the entire nation.”

SDB bank is a licensed specialised bank regulated by the Central Bank of Sri Lanka and listed on the main board of Colombo Stock Exchange with a Fitch rating of BB+ (Stable), offering a wide range of financial services for a cliental of all walks of life. The bank’s main focus is to provide groundbreaking financial solutions to the SME and co-operative sectors. It takes pride in its 94 branch network and over 5,000 ATMs, making SDB that much closer to the end consumer. The bank is now geared to take fintech by storm with its latest acquisition of the multifaceted UPAY platform.