22nd August 1995
  • People's Leasing Company is incorporated as a private limited liability company as a fully owned subsidiary of People's Bank.

    31st May 1996
  • Commercial operations commence with just three employees.

    1996/97
  • The Company breaks new ground by importing 415 built buses for leasing on easy payment terms under Indian Line of Credit. The number of employees increases to 25.

    1997/96
  • The first branch is opened in Kandy and the popular commercial catchphrase "The People's Friendly Lease" is instigated.

 

    1997/98
  • The "Samurdhi Special Hire Purchase Project" is initiated with a Government budget allocation of LKR 200 million.

    2002/03
  • Just seven years after incorporation, People's Leasing Company becomes market leader in the leasing industry. The Company becomes a registered leasing establishment, under the Finance Leasing Act No. 56 of 2000, with the Central Bank of Sri Lanka.

  • 2003/04
  • The Director of Commerce ratifies People's Leasing Company as an Approved Credit Agency. A fully-fledged model corporate city office is opened at Union Place.

  • 2004/05
  • The Company becomes a corporate member of the Asian Leasing and Finance Association and total annual granting amounts to LKR 7.7 billion.

  • 2005/06
  • The Islamic Finance Unit commences. Strategic tie ups are pursued, including those with Ashok Leyland, AMW and United Motors.

  • 2006/07
  • People's Leasing Co. PLC celebrates its 10th anniversary. Fitch Rating Lanka increases the Company's rating from "BBB+ (lka)" to "A- (lka)".

  • 2007/08
  • The brand new concept of window offices is launched at People's Bank branch premises. A fully fledged Service Station located at Rattanapitiya is acquired - the first step towards diversification.

  • 2008/09
  • The Company is ranked as the highest branded Leasing Company by Brand Finance Lanka, receives the Gold award in Corporate Accountability Ratings and clinches the Gold Award in the Leasing Sector at the Institute of Chartered Accountants of Sri Lanka Annual Report Awards. Two subsidiaries are formed - People's Leasing Property Development Limited and People's Leasing Fleet Management Limited. The Company captures 20% market share and remains the leader in the leasing industry.

 

2009/10

The Company is ranked as A+ by CRIB

People's Leasing Co. PLC celebrates its 15th anniversary



Founded in 1995, People's leasing and Finance PLC is Sri Lanka's unshakable leader in the leasing sector. In the past 14 years, People's Leasing has built an extraordinary tradition of excellence in all spheres of leasing and we are now the established market leader. Our customers range from individuals to SMEs to blue chip companies in every corner of the island. We have contributed immensely to the country's economic growth and the quality of life of millions of Sri Lankans.

The People's Leasing Group has recently diversified to include five subsidiaries, united under the PLC name. Customers can now obtain Insurance, Finance, Microfinance and Fleet Management services under one roof.

Our user-friendly product range, nationwide outreach and strong foundation of talented management and staff have made the Company immensely profitable. We are now a major contributor to the success of our parent company, People's Bank. As a subsidiary of People's Bank, the group enjoys government protection along with private sector flexibility.

    The PLC Philosophy
To respond to all stakeholders with deliverable core values of:
  • Economic Viability
  • Social Accountability
  • Environmental Responsibility