People’s Leasing & Finance PLC, the benchmark company in Sri Lankan leasing and finance sector added another landmark achievement to its robust journey by securing two main awards at the ‘CMA Excellence in Integrated Reporting Awards – 2020’.
“The Potent power of a Leader” being this year’s theme of the integrated annual report of PLC became the winner of the finance and leasing sector category whilst bringing in another award for PLC for producing one of the Top Ten integrated reports.
The sixth edition of the ‘CMA Excellence in Integrated Reporting Awards – 2020’ was organized and held on December 21, 2020 by the Certified Management Accountants of Sri Lanka (CMA Sri Lanka) as has been the practice. The award ceremony is dedicated to recognize annual reports designed in Sri Lanka.
In the face of the challenges posed by the COVID-19 outbreak since mid-March 2020, People’s Leasing company weathered storms to duly complete its annual report for the financial year 2019/20 adhering to the Integrated Reporting Framework to fulfill the information required from all key stakeholders. The story of value creation by the company is presented in the report depicting the strength and agility of the business model, strategy and the resilience of the company which enabled PLC to withstand the vulnerabilities in the operating environment.
CMA Sri Lanka by sharing virtual experience with the competitors in the award ceremony 2020, this time around granted noticeable contribution to the IR reporting in Sri Lanka. Working on the guidelines of International Integrated Reporting Council’s (IR) Framework, the CMA Excellence in Integrated Reporting Awards are evaluated on the guiding principles, content elements and fundamental concepts contained in IR Guidelines, encompassing strategic focus and future orientation, connectivity of information, value creation, resource allocation and reliability and completeness.
Mr. Shamindra Marcelline, Chief Executive Officer/ General Manager, PLC, speaking on PLC’s achievement at the ‘CMA Excellence in Integrated Reporting Awards – 2020’ said, “Recognition of PLC at the CMA awards 2020 has great significance and it is important to the Company than any other year. The Company worked on 2019/20 annual report when the COVID 19 pandemic was playing havoc world over. All operations of our company were done amidst great resistance due to the pandemic within this period. Yet this visionary and creative annual report of ours includes comprehensive financial information, Company’s operations, CSR initiatives and the governance structure.”
He added, “PLC’s annual report has been constantly recognized locally and internationally. This recognition is an endorsement on PLC’s reporting and communicating capabilities and good governance”.
People’s Leasing started its business operations in 1996 as a wholly owned subsidiary of one of the largest State banks in Sri Lanka, People’s Bank. People’s Leasing currently holds a “A+ (Ika)” rating from Fitch Ratings Lanka Ltd and the number one ranked non-banking financial services brand by Brand Finance PLC. The Company was also recognized as one of the ten best corporate citizens in the country by the Ceylon Chamber of Commerce. People’s Leasing Ranked No. 03 in Transparency in Corporate Reporting (TRAC) by the Transparency International Sri Lanka (TISL).
PLC’s financial service product portfolio includes leasing, auto loans, fixed deposits, savings, housing and business loans, gold loans, margin trading, factoring, and Islamic financial services.
People’s Leasing Conglomerate consists of six subsidiaries – People’s Insurance PLC, People’s Micro-Commerce Ltd, People’s Leasing Property Development Ltd, People’s Leasing Fleet Management Ltd, People’s Leasing Havelock Properties Ltd, and its latest foreign venture, Lankan Alliance Finance Ltd, in Bangladesh.
The unique features of People’s Leasing are its strength and stability to provide diverse financial solutions under one roof, creating a seamless, convenient and friendly customer service experience.