Nations Leasing partners UTE to propel construction industry growth

Nations Leasing, the leasing arm of Nations Trust Bank PLC, combined forces recently with United Tractors and Equipment (Pvt) Ltd. (UTE), the sole agent in Sri Lanka for Caterpillar construction equipment and machinery.

As part of this promotion UTE will offer special pricing on its brand new equipment range to customers that obtain a lease, while Nations Leasing will design special leasing facilities that best suit the customer’s cash flow.

Nations Trust Bank Chief Executive Saliya Rajakaruna, speaking on this tie up said: “We are been supporters of development and support the effort both directly and indirectly. We support directly by lending to various projects.  We support indirectly by supporting firms like UTE who provide capital equipment.”

Rajakaruna added: “Looking at our clientele we are indeed proud of the renowned names that we serve, while being honoured to serve the smaller scale operator as well. We are confident that through this union together with UTE, who are giants in the field representing the most renowned brand in the construction industry, we would be able to be of true service to the clients of both our organisations.”

UTE Chief Executive Officer Riyad Ismail said: “Our experience in the construction industry spans more than six decades that has seen so much change in the political, economic and social fabric of this country. However, one fact has remained unchanged, that being the almost unquenchable thirst for funding that fuels businesses growth. We are indeed pleased to partner Nations Trust Bank, to make this excellent offer to customers. Today, we see some financial service providers shying away from lending to sectors such as the construction industry, but we are indeed pleased with the resolve shown by Nations Trust Bank to offer its leasing services.”

Caterpillar is the leader in the global construction industry. Its products range from excavators, pavers and wheeled loaders to the mammoth dump trucks used in quarrying and mining the world over. This brand is renowned for its quality and lower cost of operation. A great deal of research and development goes in to reducing emissions and also increased operator comfort through better ergonomic design.

As a result of their 65-year-old journey with UTE as sole distributor for Caterpillar products in Sri Lanka Cat customers receive continuous added value through UTE’s legendary after sales services.

Nations Trust Bank PLC is one of the fastest growing banks in Sri Lanka today. Its market positioning of being the benchmark of customer convenience is now ably supported by a host of financial products and services including leasing and hire purchase facilities to a wide customer segment. The bank now has over 50 branches, seven Personal Banking Centres and is the sole issuer and acquirer for American Express cards in Sri Lanka.