Who We Are

People's Leasing & Finance PLC is a subsidiary of People's Bank and is a limited liability company listed on the Main Board of the Colombo Stock Exchange (CSE). Our Group consists of five subsidiaries, namely; People's Leasing Fleet Management Limited, People's Leasing Property Development Limited, People's Leasing Havelock Properties Limited, People's Microfinance Limited, and People's Insurance Limited. Having secured market leadership in the leasing industry just six years into operations, we have been successful in retaining this coveted title for more than ten years. In November 2012, the company received the licence from the Monetary Board of the Central Bank of Sri Lanka to conduct finance business under the Finance Business Act No.42 of 2011 and we now rank as the largest non-banking financial institution in Sri Lanka (in terms of the asset base).

Over the past decades, PLC has become the pioneer in providing value added financial services to Sri Lankans. With over 100 branches island-wide and a strong team of dedicated employees, we have strengthened our bonds with our valued customers by satisfying all their financial requirements through our wide range of products and services. Our product portfolio mainly comprises finance leases, loans, deposits (fixed and saving deposits),Islamic products and factoring, but we also offer margin trading facilities while having the permit to buy, sell and exchange foreign currency notes and coins and encash travellers' cheques. Our product strategy is carefully designed to position PLC as a comprehensive financial services provider in the dynamic business environment of Sri Lanka today.

As PLC operates in the financial services industry and is also listed on the Main Board of the Colombo Stock Exchange, we are rigorously regulated and come under the direct purview of the Central Bank of Sri Lanka, the Securities and Exchange Commission of Sri Lanka and the Colombo Stock Exchange. 

 

Our Vision

To become legendary in the financial-servie scene as a provider of customer-friendly.Creative and innovative total solutions

Our Mission

Dedicated value-added customer service to accomplish organisational service excellence whilst maintaining a sustainable competitive advantage

Our Core Values
  • Economic viability
  • Enviromental responsibility
  • Social accountability
Our Key Differentiators
  • Committed and skilled workforce
  • Our diversified portfolio
  • Ability to respond to changing trends of external enviroment

 

CEO / GM (2017 - 2018), Mr. A. S. Ibrahim

Mr. Ibrahim was appointed as the CEO/General Manager of People's Leasing & Finance PLC on 01st July 2017. Prior to that he has held very senior positions both locally and internationally including, Senior Deputy General Manager, Wholesale Banking (October 2014 to September 2016) and Senior Deputy General Manager, Risk Management (August 2007 to October 2014) of People's Bank, Deputy General Manager, Head of Treasury, Head of Corporate Banking & Recoveries, Chief Risk Officer and Chief Credit Officer of Hatton National Bank PLC (2004 to July 2007) and Head of Credit and GSAM, Standard Chartered Bank (2002 to 2004).

Mr Ibrahim has over 33 years of banking experience primarily in the areas of Corporate Banking, Treasury Management and Risk Management; he holds an Honours Degree (BSc) from the University of Colombo and is a Fellow of the Chartered Institute of Bankers – UK (FCIB).

Mr Ibrahim has also been a Director of HNB Securities (Pvt) Limited (2005 to 2007) and People's Merchant Bank PLC (2009 to 2011). He was recently appointed as Non-Executive & Non-Independent Director of People's Insurance PLC and also functions as a Director of People’s Leasing Fleet Management Limited and People's Leasing Property Development Limited.





Former CEO / MD (1997 - 2017), Mr. D.P. Kumarage

After 20 years of yeomen service to PLC, Mr. D.P. Kumarage, CEO/GM of PLC and the Managing Director of the subsidiary companies of PLC, bid adieu to his achievement filled vibrant career. PLC was incorporated in 1995 as a wholly owned subsidiary of People’s Bank and Mr. Kumarage was appointed as the CEO/GM of PLC in 1997. Mr. Kumarage’s visionary leadership took the company to the helm of its success. Mr. Kumarage captained the company to become the undisputed leader in leasing and the largest non-bank finance company. He championed the listing of PLC on the Main Board of the CSE and took the business beyond Sri Lankan shores, expanding operations to Bangladesh. The name of Mr. D.P. Kumarage will be written in gold in PLC’s history.

 

 

Key Milestones

  • 1995 / 96
    Incorporated on 22nd August 1995 as People's Leasing Company as a private limited liability company and a fully owned subsidiary of People's Bank
  • 1996 / 97
    Commenced operations on 31st May 1996 with three employees and Rs. 10 Mn. Capital
  • 1997 / 98
    Opened first branch in Kandy
    Relocated PLC Head Office from Bambalapitiya to Colombo 02
  • 1999 / 00
    Initiated computerization at PLC Head Office
    Ranked 4th in the leasing industry
  • 2000 / 01
    Unveiled new corporate logo as a public limited company
    Opened PLC Vehicle Yard at Borella People's Bank premises
  • 2001 / 02
    Linked branches via online system to save customers better
  • 2002 / 03
    PLC became the market leader in the leasing industry in Sri Lanka for the first time
  • 2004 / 05
    Received first ever award as a 'Runner Up' at annual report awards hosted by ICASL
  • 2005 / 06
    Launched the Islamic Finance Service Unit
  • 2006 / 07
    Launched www.plc.lk official web site
  • 2007 / 08
    Introduced unique 'Window Office' concept - a service desk established in People's Bank branches to increase customer reach cost effectively
  • 2008 / 09
    Diversified operations through two subsidiaries; People's Leasing Property Development Ltd. and People's Leasing Fleet Management Ltd
  • 2009 / 10
    Acquisition of Seylan Merchant Leasing PLC
    Established People's Insurance Limited to offer one stop solutions
  • 2010 / 11
    Inclusive finance through People's Microfinance Ltd.
    Formed People's Leasing Havelock Properties Ltd. To consolidate the entire group.
  • 2011 / 12
    Relocated to the new Head Office building in Borella
    Became a public quoted company upon an over subscribed IPO
  • 2012 / 13
    Unveiled the corporate identity as People's Leasing & Finance PLC
    Won the financial services provider of the year at the SLIM Nielsen People's Awards for the first time
    Recognized as one of ten “Best corporate Citizen” presented by Ceylon Chamber of Commerce for the first time
    Received two foreign ratings 'Standard and Poor' (B+/B) and 'Fitch Rating International' (B+)B+
    Milestone of opening more than 100 branches island-wide.
  • 2014 / 15
    Became a Carbon certified company
    Became first NBFI to record historical sales volume exceeding Rs. 6 Bn in November 2014
  • 2015 / 16
    Became first NBFI to record historical sales volume exceeding Rs. 7 Bn in September 2016
    Insurance subsidiary of PLC was listed as a public quoted company, People's Insurance PLC
  • 2016 / 17
    PLC marked 20th year in operations
    Initiated beyond the shore operation in Bangladesh