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| Sunday, 24 August 2003 |
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| News Business Features Editorial
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People's Leasing emerges No. 1 People's Leasing Company (PLC), a fully-owned subsidiary of the People's Bank, has been ranked as the number one leasing company in Sri Lanka. The company celebrated its seventh anniversary recently. PLC claimed this position from 50 institutions registered with the Central Bank, out of which 38 were members of the Leasing Association of Sri Lanka as at March 2003. The company was formed with three employees with the initial objective of acting as a facilitator to the parent company, to extend lease facilities to People's Bank. It has now emerged as the bank's flagship subsidiary. PLC has a customer base of more than 12,000. "We salute them for making us the Number One leasing company in Sri Lanka," said D.P. Kumarage, CEO at the official release of the company's latest annual report. Having released about 3,000 omnibuses on leasing terms so far, PLC is a market leader and pioneer in providing facilities to the public transport sector. PLC raised its funds mainly through securitisation. It has invested heavily on staff training and a management development process to motivate and empower employees to handle responsibilities with confidence. (PJ) |
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| Editorial | Security Produced by Lake House |
