People’s Leasing initiates innovative leasing partnerships with Lanka Ashok Leyland

Sri Lanka’s leading non-bank finance company People’s Leasing & Finance Plc (PLC) exclusively tied up with Lanka Ashok Leyland Plc (LAL) to promote Eagle A/C Mini Buses. Lanka Ashok Leyland Plc also assembles, imports and sells all types of AC/Non-AC buses, tippers, trucks and light commercial vehicles.

Under the leasing partnership LAL will offer customers free registration and revenue licensing, three free full services (including an oil and filter change) and a warranty for an unlimited driving time of 18 months.

In return PLC offers LAL customers a lease period for five years, according to customers’ repayment capacity and a free full tank of fuel at the time of releasing the vehicle to the customers. Promotions will be on until 31 March 2018. 

People’s Leasing Company was commissioned in 1995 as a wholly-owned subsidiary of the biggest State bank in Sri Lanka, People’s Bank. PLC is currently the market leader in the non-bank finance sector in Sri Lanka.

Fitch Rating Lanka has assigned PLC a credit rating of AA-(lka), which makes PLC the highest rated finance company in the country. PLC is the only Sri Lankan finance company to have two international ratings of which one is equal to the Sovereign from Standard & Poor’s (‘B+/B’) and the other is one notch below the Sovereign from Fitch Rating International (‘B’).  

PLC’s financial service product portfolio includes leasing, fixed deposits, saving accounts, personal and business loans, margin trading, factoring and Islamic financial services. 

People’s Leasing conglomerate consists of five subsidiaries namely People’s Insurance Plc, People’s Microfinance Ltd, People’s Leasing Property Development Ltd, People’s Leasing Fleet Management Ltd. and People’s Leasing Havelock Properties Ltd.

The uniqueness of PLC is its strength and the stability to provide diverse financial solutions under one roof to its customers, thus enabling customers to obtain customer friendly services.