State banks become shareholders of TFC

Director/CEO of The Finance Company Plc Kamal Yatawara addressing the media after the share issue closure.

The public share issue conducted by The Finance Company PLC (TFC) raised Rs. 1.6 billion fresh capital. As expected, the share issue was mostly subscribed by prominent institutional investors and high net worth individuals.

As a result of these investments the largest banks in the country, namely, Bank of Ceylon, Seylan Bank and People's Bank, have become key shareholders of TFC.

Apart from this successful share issue closure, TFC has obtained over Rs. 400 million in new deposits in the month of January through its branch network across the country.

Encouraged by the confidence the public has placed in the organisation and the stability achieved through the share issue, the company is now geared in embarking on a journey towards achieving the leadership position in the non-financial services market in Sri Lanka while strengthening the real-estate, hire-purchasing and pawning businesses of the company.