Fintrex reveals expansion plan at 10th anniversary celebration

• To add six new branches in 2022
• Estimates to have a network of 30 branches in four years from 14 at present

By Sandesh Jayasinghe 

Fintrex Finance Chief Executive Officer Jayathilake Bandara

Fintrex Finance Chief Operating Officer Sajeewa Sapukotana

Fintrex Finance Ltd., yesterday celebrated a decade of success with plans to grow with expansion of branches and product offering. 

Formerly known as Melsta Regal Finance and rebranded as Fintrex Finance, it has expanded to 14 branches across the country in ten years. 

It was announced that six new branches will be opened in Nugegoda, Fort, Wennapuwa, Panadura, Ratnapura, Nittambuwa and Homagama this year whilst the network will be expanded to 30 branches within four years. 

“Our ultimate goal is to be among the top five in the Non-Bank Financial Services sector,” Chief

Executive Officer Jayathilake Bandara said. 

Due to Fintrex top of the line services and the confidence of customers, the company has grown substantially.  

Total assets had grown to Rs. 9 billion in FY21 from Rs. 2 billion in FY13/14. Pre-tax profit in FY21 amounted to Rs. 251 and after-tax profit was Rs. 196 million representing a growth of 735% and 422% respectively compared to the previous financial year.

It received the ‘Fastest growing finance company in Sri Lanka’ award for 2021 from International Business Magazine as well the ‘Great Place to Work’ Award, highlighting the continued success of the firm and the culture they have built.

Bandara stated that the secret to the company’s recent growth was the customer service that they provided alongside the enticing offers that were beneficial to customers.

Fintrex Finance owned by Bluestone 1 Ltd., backed by a consortium of world class investors including global insurance giant Fairfax Holdings who holds 70% along with MAS and Hirdaramani Group who together hold 24% of the equity shareholding.

It provides a multitude of services like Fixed Deposits, Leasing Services and Gold Loan Services among others. Recently introduced products include Dream Plan, Smart Cash, Structured Leasing and Smart Draft.

The Chief Operating Officer Sanjeewa Sapukotana highlighted that Fintrex had seen a rapid growth over the past two years. 

He credited part of that success to the new initiatives the company had taken which included ‘easy leasing’ which bypassed the limitations on leasing for financial organisations, and one-shot loans which is another innovative facility, that take advantage of the market environment.

Fintrex marked its 10th anniversary rewarding long standing customers for their continued support. Among those recognised were George Steuart Engineering Ltd., Trine Traders and Arking Engineering Ltd.

A 10th anniversary logo was launched along with a plaque by CEO and COO. 

A company anthem was also released to further establish the identity of the organisation.

Pix by Lasantha Kumara