People’s Merchant adds Finance to its name

Monday, 14 May 2012 00:00 - - {{hitsCtrl.values.hits}}

People’s Merchant Plc has added ‘Finance’ to its name following approval for a special resolution on same by shareholders. The Central Bank last month granted the Company the licence to carry on finance business under the Finance Business Act No 42 of 2011.

Following the resignation Rajeeva Bandaranaike as CEO, the former Additional General Manager of Bank of Ceylon Dr. Chandrasena Samarasinghe (Sam) was appointed as the successor with effect from 1 May 2012.

People’s Bank along with People’s Leasing Company controls 39% stake in People’s Merchant Finance Plc whilst Capital Trust Holdings owns 20.12%