Mahindra IDEAL Finance expands presence in the hills with new branch at Katugasthota

Senior management of Mahindra IDEAL Finance with branch staff and customers on the opening day of the company’s Katugasthota branch

Mahindra IDEAL Finance Ltd., recently announce the unveiling of its new Katugasthota Branch. 

Located at 214, Madawala Road, Katugasthota, Mahindra IDEAL Finance, Katugasthota is the 22nd addition to the company’s growing islandwide branch network. 

It was declared open amidst a special ceremony held in the presence of valued customers, staff, special guests and senior officials representing Mahindra IDEAL Finance’s senior management team. The new branch will serve customers in Katugasthota and the surrounding areas, including parts of the Greater Kandy Area. 

Chief Executive Officer Duminda Weerasekara said: “Guided by our overall business growth plan, our network expansion strategy has identified Katugasthota as a key nexus in the Central Province. It is where, in fact, both the A9 and A10 highways meet, while Katugasthota also serves as one of the three main entry points to the City of Kandy. As a result, it is ideally suited to serve customers in parts of the Greater Kandy Area, in the direction of both Kurunegala and Matale, areas that are hives of commercial, industrial and agricultural activity in the region, particularly for SMEs.” 

“It will also be an opportunity for us to provide and create value for the many wealthy businessmen, landowners and merchants in the area, with regard to investment and wealth creation opportunities. The exceptional and emerging talent pool in the area is also very attractive to us.”

Looking to grow and consolidate its human capital, the company believes that its new Katugasthota branch will enable it to attract new talent from the area, as it seeks to further expand its operations across Sri Lanka. 

The company’s rapid network expansion drive was launched subsequent to Mahindra and Mahindra Financial Services Ltd., India acquiring a controlling stake in IDEAL Finance Ltd. in 2021, soon after which Fitch Ratings upgraded the company’s rating to AA – (lka) with a stable outlook, in recognition of the company now being backed by a global financial services giant.