Commercial Credit on expansion drive

March 20 was a red letter day in the 32-year history of Commercial Credit as customers and well-wishers gathered at the simultaneous opening of 20 branches across Sri Lanka.

The new branches were opened at Aluthgama, Aralaganwila, Akuressa, Chunnakam, Deniyaya, Delft, Elpitiya, Giriulla, Hatton, Kalpitiya, Mannar, Medawachchiya, Nawalapitiya, Pottuvil, Rikillagaskada, Teldeniya, Tanamalwila, Udugama, Valaichchenai and Welimada.

With this massive expansion, Commercial Credit stretches its reach across the country to 75 locations thus bringing its service and expertise within easy reach of its steadily increasing islandwide customer base.

Commercial Credit's CEO Roshan Egodage said, "This significant expansion, and all of them on the same day, is yet again a demonstration of our commitment to the public.

"We're now fully geared to serve the people of these towns and surrounding areas with our large range of products and services.

"Among them are fixed deposits, leasing, hire purchase, gold loans, real estate, personal loans, education loans and micro finance".

Frontier markets private equity investor, Creation Investments Capital Management LLC, Chicago, USA, recently agreed to invest Rs. 1.68 billion in Commercial Credit through its subsidiary, Creation Investments Sri Lanka LLC. This is the largest investment by an international private equity fund in a publicly listed Sri Lankan licensed finance company and is a strong validation of the success of Commercial Credit.