People’s Leasing & Finance PLC, the financial solutions provider in the Non-Bank Financial Institutions (NBFI) sector, bagged a prestigious award at the 56th CA Sri Lanka Annual Report Awards organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka). The Annual Report 2020/21 of the Company secured the Silver Award in the Finance Companies & Leasing Companies (Total Asset above LKR 20BN) sector. The Annual Report Awards competition is organized by the CA Sri Lanka, and it is recognized as one of the country’s most prestigious and oldest corporate events among diverse business sectors. This year’s edition saw a large number of contenders, ranging from Conglomerates and Multinationals to small and medium scale enterprises competing to achieve the highly coveted recognition.
Continuous recognition received at local and international levels for the Annual Report reflects the Company’s efforts in maintaining Transparency, Accountability and Social Responsibility in Financial Reporting. This year’s award is further evidence of the Company’s commitment to emulate the standards achieved in these areas. The Annual Report 2020/21 is the 8th Integrated Report of People’s Leasing themed as “ ” which pays gratitude to all the Company’s stakeholders who have been an integral part of the organization in its past 25 years of journey whose unstinting support and confidence placed in the Company have been the stepping stone in the rise to the top.
People’s Leasing & Finance PLC navigated a year of unprecedented concessions to customers and converging challenges to record the highest profit in the history of the Group of Rs. 5,596.33 million for the financial year ended 31 March 2021. From the onset of the pandemic, customers needed cash lifelines and People’s Leasing remained open throughout to provide the same. With the announcement of moratoria by the Government, People’s Leasing commenced processing eligible facilities, extending the benefit to customers and for those who were not eligible for the moratoriums were granted the option of restructuring their facilities in line with their repayment capabilities. Additionally, default interest was waived for a period of nine months, giving further relief to customers.
Mr. Shamindra Marcelline, Chief Executive Officer /GM of People’s Leasing, speaking on this feat said, “PLC’s Annual Report was recognized many a time both locally and internationally. It highlights our Financial Stability, Company Structure, Good Governance, CSR initiatives, Strategic Focus and our Vision”. He added, “This recognition from CA Sri Lanka is an endorsement of PLC’s Reporting and Communicating capabilities and Good Governance”.
People’s Leasing started its business operations in 1996 as an exclusively owned subsidiary of one of the largest State Banks in Sri Lanka, People’s Bank. Today, it is listed on the Colombo Stock Exchange and is a leading NBFI in the industry. People’s Leasing is one of the highest rated NBFI in the country, with a “A+(Ika)” rating from Fitch Ratings Lanka Ltd. Furthermore, the Company secured the 27th place in Business Today Top 40 (2020-2021) Best Performing Listed Companies. Additionally, it is also the Most Valuable Consumer Brand in Financial Services Sector and the Most Loved Brand in Leasing Sector as classified by Brand Finance Lanka (2021).
People’s Leasing & Finance PLC’s financial service product portfolio includes Leasing, Auto Loans, Fixed Deposits, Savings Accounts, Housing and Business Loans, Gold Loans, Margin Trading, Factoring, and Islamic Financial Services. People’s Leasing Group 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 foreign venture, Lankan Alliance Finance Ltd.
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.