Who We Are

People's Leasing & Finance PLC: The Trusted Leader

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-service scene as a provider of customer-friendly, creative and innovative total solutions

Our Mission

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

Our Core Values

  • Economic viability
  • environment responsibility
  • Social accountability

Our Key Differentiators

  • Committed and skilled workforce
  • Our diversified portfolio
  • Ability to respond to changing trends of external environment

Chief Executive Officer / Mr. Udesh Gunawardena

Mr. Udesh Gunawardena is a seasoned professional with a wealth of experience in finance and operations management. As the Chief Operating Officer of People’s Leasing & Finance PLC, he played a pivotal role in driving the company’s strategic initiatives and ensuring operational excellence. With a career spanning over two decades, Mr. Gunawardena has established himself as a respected figure in the financial industry, demonstrating expertise across various domains.

Mr. Gunawardena’s academic qualifications underscore his dedication to continuous learning and professional development. Holding prestigious designations such as ACA (Associate Chartered Accountant) and ACMA (Associate of the Chartered Institute of Management Accountants) from Sri Lanka, he has also earned a Diploma in Treasury, Investments, and Risk Management from the Institute of Bankers of Sri Lanka (IBSL). This solid educational foundation equips him with the necessary knowledge and skills to navigate the complexities of the financial sector effectively.

Throughout his career, Mr. Gunawardena has held several key positions, each contributing to his holistic understanding of finance and business operations. His tenure as the Chief Financial Officer and Company Secretary of Lankan Alliance Finance Limited in Bangladesh provided him with invaluable international exposure and insights into diverse regulatory environments. Additionally, serving as the Deputy General Manager of Internal Audit at People’s Leasing & Finance PLC and as the Secretary to the Board Audit Committee further honed his expertise in risk management and corporate governance.

Mr. Gunawardena’s extensive experience spans accounting, auditing, financial management, and treasury operations, reflecting his versatility and proficiency in multifaceted roles within the financial landscape. His ability to adapt to changing market dynamics and his strategic vision have been instrumental in driving sustainable growth for the organizations he has served.

In addition to his role as Chief Operating Officer, Mr. Gunawardena holds notable positions as a Non-Executive Director of Lankan Alliance Finance Limited in Bangladesh and as a Director of the Leasing Association of Sri Lanka. These leadership roles underscore his commitment to contributing to the broader development of the financial industry and fostering collaboration across borders.

Mr. Gunawardena’s dedication and contributions to the field have not gone unnoticed. His achievement as a World Prize winner of the Australian Computer Society is a testament to his outstanding capabilities and accomplishments in the realm of finance and technology.

Mr. Udesh Gunawardena emerges as a distinguished figure in the finance sector, leveraging his extensive experience, academic credentials, and leadership acumen to drive organizational success and industry advancement. His strategic insights, coupled with his commitment to excellence, position him as a valuable asset to People’s Leasing & Finance PLC and the broader financial community.

Former CEO / GM, Mr. Shamindra Marcelline

Shamindra Marcelline, Senior Vice President/Head of Corporate Banking, DFCC Bank, Sri Lanka, joins People’s Leasing & Finance PLC as the Chief Executive Officer/General Manager with effect from 20th November 2020.

An experienced banker with local and foreign bank exposure in addition to working overseas for the HSBC Group, Mr Marcelline brings with him unique industry insights so as to contribute towards the strategic direction of the Company.

At DFCC, he spearheaded the Bank’s Corporate Banking strategic initiatives across the country and in overseas markets.

In October last year, he played a key role in securing the mandate for Sole Adviser and Structuring Bank for a Dual Tranche Bi-lateral Loan Facility for a leading Maldivian company, recognized as the largest ever loan facility given by DFCC Bank Sri Lanka.

As a member of the Bank’s Executive Committee, Asset and Liability Committee and Operational Risk Management Committee, Mr Marcelline played a strategic role in harnessing the Bank’s corporate initiatives.

He joined DFCC Bank following a cross posting, as the Country Manager, Maldives, by the HSBC Group.

He is credited with the transformation of the banking industry in Maldives and he was responsible for the largest asset drive in the islands at the time.

Under his stewardship, the development, performance and growth of the Commercial and Global Banking business consisting of corporate real estate, international subsidiary banking and public sector areas, grew into a formidable wholesale banking initiative. It included P&L responsibility and he successfully oversaw a team of Relationship and Product Managers, enabling the Bank to build and sustain strategic relationships with key stakeholders and business leaders.

He also headed the Financial Institutions Group and Public Sector for HSBC Sri Lanka and Maldives before joining the DFCC Bank.

Among his key achievements he had been successful in managing the Sri Lanka Sovereign and Quasi-Sovereign Institutions implementing the HSBC Group Investment Banking strategy.

Mr Marcelline has strong credentials in the banking and finance sector in Sri Lanka and has contributed towards showcasing Sri Lanka’s investment potential globally.

He has participated in multiple investor-road-show events held across the USA, UK, Middle East and South East Asia as a part of the initiatives driven by the Ministry of Finance, Central Bank of Sri Lanka and leading State and Commercial Banks.

Mr Marcelline graduated from the Colombo International School in Sri Lanka in 1993. He holds a Degree in Economics and Accountancy (BSc.) from City University (1996), London (UK) and also in Financial Advisors’ International Qualification (FAIQ), Chartered Insurance Institute, UK (2008).

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