Sustainability - Overview - People's Leasing & Finance PLC


Overview

 

At People's Leasing and Finance PLC, sustainability is founded on an inclusive ownership process where stakeholders become the custodians of the sustainability ethos, values and intents which would eventually have an overarching positive impact. This we believe is an inclusive process, on not only those who are unequivocally intertwined on a daily basis with us, but also on the larger macro panorama of the nation. To this end, our culture of inclusive finance has for sixteen years created a living breathing working paradigm of sustainable development, which remains at the core of our business fundamentals and is built on the vision of providing foundations for society's future. Given the deep seated approach that People's Leasing and Finance PLC has towards sustainable development, drawn from lessons in the past, created ambitious yet attainable sustainable development mission, goals, values and objectives to ensure that we can and capable, through our actions to build up a positive impact on our stakeholders.

This we strongly believe will make a difference in the way we do business and approach macro issues, to gain both qualitative and quantitative sustainable benefits to each of our stakeholder segments. People's Leasing and Finance PLC has undertaken the mantle of being a primary activator within the larger national development vista. In a post war Sri Lanka, there's emphatic focus on sustainable development and recognising this, People's Leasing and Finance PLC continued its stance of promoting and encouraging income generating ventures, entrepreneurial skill development projects and community empowerment initiatives that will eventually spur entrepreneurship and an overall upliftment of quality living standards. This will also activate economic enhancement cascading to rural and urban development, while contributing to the national economy substantially.

 

 

 

Sustainability Related Issues and Opportunities

 

Risks & Uncertainties

 

Volatility in Macroeconomic Environment

 

susceptibility to volatilities in interest rates and exchange rates with implications on planned interest income, expenses and the capital base and the changes in duty structure on vehicle imports directly impacting the core leasing and hire purchase operations.

 

Industry Competition

 

overcrowded industry with both banking and non - banking institutions seeking to offer similar products and services - thus eroding the market share and margins.

 

Changes in Regulations

 

constantly changing regulatory framework brings in uncertainties to operations - expansions, top- line and bottom- line results and future plans.

 

Funding - Cost & Maturity Mismatches

 

high cost of funds within the non - bank finance sector impacting competitiveness whilst being susceptible to maturity mismatches in assets and liabilities arising due to the lack of long term funds to finance long term lending.

 

Turnover in Trained Staff

 

intense competition leading to high turnover of trained and expert staff within the industry.

 

 

 

Opportunities

 

Emerging Economy

 

moving towards an upper middle income status with higher growth prospects - leading to a higher demand for financing burgeoning businesses including the small and medium enterprises sector.

 

Statutory & Regulatory Framework

 

current changes to rules and regulations advocating best practices in governance, risk management and business dealing - bringing in greater discipline.

 

Technology

 

setting a new pace in the business arena enabling simplified, seamless and speedy financial solutions - creating a distinct impact on operational and financial performance.

 

Social Responsibility

 

an increasing trend and acceptability along with accolades and ratings that add great value to the brand for combining commercial viability with social responsibility.

 

Grass- root Communities

 

with greater exposure to new age thinking and tendencies to adopt urban values and lifestyle, the grass root communities are now more open to be educated and embrace formal financing and engage in micro entrepreneurism.

 

Potential for Islamic Finance

 

with socio- cultural changes opening up the demand for Shari'ah compliant products as an alternative to conventional financing.

 

Potential in Asia

 

growing demand for financial services to fund the emerging economies in Asia.

 

 

Policy Framework

 

Human Resources Policy

 

Our people will be motivated, respected, ethical and responsible, empowered to be leaders and entrepreneurs, to be individuals who excel and teams that win, positioned as the most sought after human talent team within the corporate milieu journeying towards the unwavering vision of the organization and committed to achieve results that will position them as the best among the best.

 

Economic Policy

 

We are committed to building and sustaining an economically sound business model that will be centered on an integrated and focused approach constructed on a platform of sound governance, ethics, transparency and accountability, while enhancing stakeholder value and being a true partner in sustained national economic development.

 

Product Policy

 

PLC is committed to a spirit of empowerment, inclusivity and a partnership approach while expanding our reach, constantly improving our service standards, innovating products, building customer confidence, trust and safeguarding customer rights

 

Social Policy

 

By encouraging, supporting, caring and empowering, we remain committed to pursuing our sustainability agenda by building sustainable development platforms that will positively impact the communities around us.

 

Environment Policy

 

We commit to spearheading and initiating best practices that will empower us to Go Green, building an organisation that is a catalyst in environmental change, taking responsibility for conserving the earth's resources, while reducing our carbon footprint and striving to etch an ecological balance between human survival and the earth's future.