NDB Leasing in partnership with Ideal Motors

From left: Ideal Motors Director Automotive Chaminda Wanigaratne, Ideal Motors Deputy General Manager – Truck & Bus Division Malaka Wehella, Ideal Motors Deputy General Manager Rakitha Wimalasakera, Ideal Motors General Manager – Group Marketing and Communications Iroshini Wijenayaka, Ideal Motors Senior Manager – Product Janaka Kudagama, Ideal Motors Senior Manager – Sales Dilshan Tennakoon, NDB Senior Vice President – Personal Banking and Branch Network Management Sanjaya Perera, NDB Assistant Vice President – Leasing Ajith Senadheera, NDB Chief Manager – Leasing Sanath Susantha and NDB Manager – Business Development and Sales (Leasing) Jagath Karunaratne

NDB Leasing recently tied up with Ideal Motors to provide customers with reduced lease rentals, attractive discounts and other benefits.  

NDB Leasing offers competitive interest rates and flexible repayment plans that extend up to seven years. NDB customers can enjoy customised repayment plans that match the individual repayment capacity along with discounted insurance premiums. Additionally, structured payment plans with balloon payments and facilities with residual value/multiple RV are also available. 

NDB has continuously enhanced its vehicle financing proposition to accommodate the diverse, evolving needs of consumers. 

NDB Leasing is available for individuals as well as Small and Medium scale enterprises.  It helps to enhance and develop the SME sector of the country, by facilitating the purchase of a range of commercial vehicles such as lorries, freezer lorries, buses, and vans as well as equipment. In addition, NDB has also offered customised leasing facilities through its credit line funding for small and medium scale businesses in island wide including North and East Provinces under concessionary rates.

NDB extends its Leasing facilities to a wide range of customers via regional networks and strategic partnerships. NDB’s 365-day Leasing desk available at the bank’s branches island wide further enhances accessibility for its leasing services.

NDB Bank which is the first and to date the only corporate in Sri Lanka to officially be certified with EDGE Certification, the leading and only global certification for gender equality at work place, is the parent company of the NDB Group, one of the fastest growing financial services conglomerates in Sri Lanka, with the strategic mission to be the dominant leader in the financial services and banking sector. 

From its inception, the group which includes NDB Bank, NDB Capital, NDB Investment Banking, NDB Wealth, and NDB Securities has been a catalyst in the development of the nation, strengthening and empowering entrepreneurs, corporates and individuals from all strata of the economy. Customers across all group companies have benefited from the product and service offerings of the NDB group.

Ideal Motors Ltd., the sole agent for the Mahindra Brand of commercial and passenger range of vehicles holds its place as Ideal Group’s flagship company. 

The group, a fully-fledged automotive major in Sri Lanka, is a conglomerate which spans over numerous specialties; notable of which are finance, renewable energy, logistics, vehicle fleet rental, transportation, power generators, tyres, tools, automotive spares and specialist automotive multi-brand aftersales services. The combined operations churns out a turnover that exceeds Rs. 20 billion.

Since 2009, Ideal Motors has sold over 65,000 Mahindra Vehicles in Sri Lanka – a unique achievement given the short span of time. In doing so, Ideal Motors has captured a market share of over 50% in the light truck category, displacing major players who had hitherto dominated the market in the past several decades. 

Through Ideal Motors, Mahindra offers the most comprehensive line up of automotive solutions covering all major segments in the industry. The range extends from two wheelers, three wheelers, Passenger cars, Buses, light to heavy commercial vehicles and heavy industrial vehicles. Apart from the Mahindra range, Ideal Motors conducts numerous technical training programmes across the country and this has culminated in the establishment of a fully-fledged automotive and management training school with NVQ level 4 certification.

The decade-long partnership between Mahindra and Ideal Motors has been further strengthened with the creation of Mahindra Ideal Lanka Ltd., a BOI approved joint venture to assemble a range of Mahindra vehicles in Sri Lanka, complying and exceeding the local requirement of 30% localisation. This is a historic moment in the automobile space in Sri Lanka where a world renowned auto major has partnered a local franchisee in an equity partnership and a technical collaboration.