Richard Peiris Finance crosses Rs. 2 billion deposit base

Monday, 11 May 2015 13:45 - - {{hitsCtrl.values.hits}}

Chief Executive Officer K. M. M. Jabir

Richard Pieris Finance, the youngest finance company in the country, licensed by the Monetary Board of the Central Bank of Sri Lanka, has crossed a Rs. 2 Billion Deposit Base after just two years of operation.

“This symbolises the stability, financial strength, service quality and dedicated staff who treat customers with genuine interest. These are key factors for an investor or a depositor to consider before making an investment,” said Richard Pieris Finance Ltd. Chief Executive Officer K.M.M. Jabir.

According to the CEO, unlike borrowing, depositors always look at the financial stability, strength and ongoing concerns of the company.

“In our country, our customers have had discomforting experiences with a number of finance institutions collapsing from time to time,” he said.

Jabir said that customers were serviced by qualified, experienced, dedicated and ever-willing young professionals.

He added that the company enjoyed the backing of one of the country’s oldest and largest conglomerates, the Richard Pieris Group, which completed 83 years of operation recently.

The Richard Pieris Group is a diversified entity and Richard Pieris Finance is a fully-owned subsidiary of Richard Pieris and Company, which is known as the Arpico Group.

Jabir noted that the Richard Pieris Finance Company was the only finance company under the Richard Pieris Group. He advised investors and depositors not to get confused by institutions which carry the Arpico name.

Richard Pieris Finance Company’s website, www.rpfinancelk.com, was launched recently by its Senior Director Professor Lakshman R. Watawala in the presence of the company’s Chairman Felix Fernandopulle and directors Janaka Hewavitharana and Chandula Abeywickrema along with CEO K.M.M. Jabir and the company’s senior management.

During its two years, Richard Pieris Finance Ltd. has not only been expanding but strengthening its foundation. The Central Bank of Sri Lanka has approved the company’s eight branches in the Western Province as well as those in outstation regions.

Almost all of the company’s branches will be located in Arpico Supermarkets islandwide to provide convenience for customers who have placed their trust in Richard Pieris Finance Ltd.

Furthermore, the company’s deposit base has increased to Rs. 2 billion in just two years. Some of the oldest finance companies have taken 10 to 15 years to achieve that target, reflecting the trust customers have placed in Richard Pieris Finance Ltd.