Sri Lank’s most customer-friendly bank, HNB PLC, signed on as the official leasing partner to the Ceylon Motor Traders Association (CMTA), the representative body of Sri Lanka’s automotive industry.
The strategic tie-up between the two organizations will offer CMTA members access to a wide range of leasing facilities provided by the bank. . HNB DGM Retail & SME Banking Sanjay Wijemanne and CMTA Chairman Charaka Perera were present to commemorate the new partnership.
“To overcome the current economic situation, we have initiated several new activities to develop the automotive industry. This is one such initiative, and although we currently face challenging times, partnerships of this nature would provide comprehensive leasing solutions for members and, by extension, their customers,” HNB DGM Retail & SME Banking Sanjay Wijemanne said.
“Transport is a capital good that often impacts the efficiency of a manufactured product. Greater transport efficiency will have a wider impact on enhancing the efficiency of the economy. Moreover, given the present situation in the country, amidst the import ban, collaborations like this are a vital intervention to support and solve disruptions in the industry,” CMTA Chairman Charaka Perera said.
Founded in 1919, the Ceylon Motor Traders Association is affiliated with the Ceylon Chamber of Commerce and is widely accepted as the voice of the Sri Lankan Automotive Industry. It is the most senior automotive trade association in the region and represents all major international automotive manufacturers through its agents.
Furthermore, the members of the CMTA collectively employ and train thousands of Sri Lankan citizens while bringing in international best practices in engineering and management, making a talent pool that is trained and employable internationally. Additionally, the CMTA members have over 7,000 direct employees and established island-wide dealer networks under them, comprising more than 5,000 small & medium scale enterprises spread across the island.
