People’s Leasing wins Silver at 56th CA Sri Lanka Annual Report Awards

Saturday, 29 January 2022 03:08 - - {{hitsCtrl.values.hits}}

‘56th CA Sri Lanka Annual Report Awards – 2021’ Silver Award in the Finance Companies and Leasing Companies (Total Asset above Rs. 20 billion) sector being presented to Chief Executive Officer/GM Shamindra Marcelline by CA Sri Lanka Chief Executive Officer Dulani Fernando, CSE Chief Executive Officer Rajeeva Bandaranaike and Annual Report Awards Committee Chairman Chaaminda Kumarasiri

People’s Leasing and Finance PLC, the financial solutions provider in the Non-Bank Financial Institutions (NBFI) sector, bagged a prestigious award at the 56th CA Sri Lanka Annual Report Awards organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka).

The Annual Report 2020/21 of the Company secured the Silver Award in the Finance Companies and Leasing Companies (Total Asset above Rs. 20 billion) sector. The Annual Report Awards competition is organised by the CA Sri Lanka, and it is recognised as one of the country’s most prestigious and oldest corporate events among diverse business sectors. This year’s edition saw a large number of contenders, ranging from conglomerates and multinationals to small and medium scale enterprises competing to achieve the highly coveted recognition.

Continuous recognition received at local and international levels for the Annual Report reflects the Company’s efforts in maintaining transparency, accountability and social responsibility in financial reporting. This year’s award is further evidence of the Company’s commitment to emulate the standards achieved in these areas. The Annual Report 2020/21 is the eighth Integrated Report of People’s Leasing themed as “Thank You. ස්තුතියි. நன்றி.” which pays gratitude to all the Company’s stakeholders who have been an integral part of the organisation in its past 25 years of journey whose unstinting support and confidence placed in the Company have been the stepping stone in the rise to the top.

People’s Leasing and Finance PLC navigated a year of unprecedented concessions to customers and converging challenges to record the highest profit in the history of the Group of Rs. 5,596.33 million for the financial year ended 31 March 2021. From the onset of the pandemic, customers needed cash lifelines and People’s Leasing remained open throughout to provide the same. With the announcement of moratoria by the Government, People’s Leasing commenced processing eligible facilities, extending the benefit to customers and for those who were not eligible for the moratoriums were granted the option of restructuring their facilities in line with their repayment capabilities. Additionally, default interest was waived for a period of nine months, giving further relief to customers.

CEO and General Manager Shamindra Marcelline said: “PLC’s Annual Report was recognised many a time both locally and internationally. It highlights our Financial Stability, Company Structure, Good Governance, CSR initiatives, Strategic Focus and our Vision”. He added, “This recognition from CA Sri Lanka is an endorsement of PLC’s Reporting and Communicating capabilities and Good Governance.”