People’s Leasing & Finance celebrates 26 years as industry leader

PLC head office building

PLC Chairman Sujeewa Rajapakse

PLC Chief Executive Officer/General Manager Shamindra Marcelline

Having strengthened its position as Sri Lanka’s leading Non-Banking Financial Institution, People’s Leasing & Finance PLC (PLC) celebrates its 26th anniversary on 31 May. 

In recent times, the company has enhanced its reputation with various initiatives and by winning prestigious accolades. The management and staff of PLC said their success during the last 26 years is largely due to the unwavering loyalty and trust of customers and other stakeholders. They believe this has created a firm foundation to reach even greater heights in the future.   

The company has achieved much recently in terms of financial performance, service excellence and technological deployment. It has also introduced several innovative products and services. Among these are the trilingual mobile app PLC Touch to facilitate a convenient user experience, a credit app and DCHEQUE, a trailblazing digital transformation initiative. The company also teamed up with People’s Bank to launch co-branded credit cards that offer a wide array of benefits to customers. 

With an extensive network of over 110 branches and a 2,400-strong workforce, PLC has come a long way since its inception in 1996. Today, the company serves every part of the country, offering a comprehensive and diverse portfolio of products and services. It is among the most trusted and sought-after non-banking financial institutions in Sri Lanka.    

PLC Chairman Sujeewa Rajapakse said their aim is to make finance more inclusive and accessible to the people. “We provide access to finance to people who normally would not be able to obtain it from the more formal banking channels,” he stressed. He noted that the company has a strong capital base, efficient management systems and processes, a dynamic workforce and good technological capabilities. 

According to Rajapakse, PLC’s strength and stability as a state-owned institution have greatly contributed to its success. Another factor has been its range of customised financial products that fulfil individual clients’ requirements, he said. The company’s portfolio includes business loans, housing loans, personal loans, education loans, auto loans and gold loans at competitive interest rates. PLC Chief Executive Officer Shamindra Marcelline said the company will continue to differentiate itself from competitors by providing a friendly, personalised service along with flexibility. He emphasised that they focus on service excellence at all times.  According to Marcelline, the company will deploy digital technologies to enhance user-friendliness, convenience and accessibility. “Our aim is to provide customers a seamless, hassle-free experience,” he said. He added that they will evolve with market requirements by continually upgrading their technology and introducing innovative best-in-class financial solutions. 

In recent years, PLC has won a number of prestigious accolades. These include being listed by the Chamber of Commerce as one of the 10 responsible institutional citizens of Sri Lanka. The company was also ranked high among the top 50 listed companies for transparency in corporate reporting by Transparency International Sri Lanka (TISL). At the Brand Finance Awards, it was acclaimed as Sri Lanka’s most excellent non-banking financial institution. PLC has also featured in the Business Today Top 30 rankings and won reputed local and international awards. The company bagged prestigious accolades at the CMA Excellence in Integrated Reporting Awards and the CA Sri Lanka Annual Report Awards. It was also ranked among the Next Global 100 Companies by the Global Banking & Finance Review. 

PLC has earned a reputation for its CSR projects. Known for being ‘people-friendly,’ the company has been involved in everything from protecting the environment and wildlife conservation to community care, enhancing education and raising living standards. It has also undertaken renewable energy initiatives. It has prioritized environmental conservation to reduce global warming, carrying out long-term tree-planting campaigns and minimising paper usage. 

In addition, PLC has provided relief and extended assistance to businesses facing hardships due to the economic downturn caused by the COVID-19 pandemic. The company also donated essential medical equipment to help combat the pandemic. 

A subsidiary of the State-owned People’s Bank, PLC is a listed company on the Colombo Stock Exchange (CSE). The PLC Group’s subsidiaries include People’s Leasing Fleet Management Ltd., People’s Leasing Property Development Ltd., People’s Leasing Havelock Properties Ltd., People’s Microfinance Ltd. and People’s Insurance PLC.