New products from People's Finance

People’s Finance PLC will focus on expanding its financial services to customers with an approach that aims at being cost effective, convenient and time saving.

The company with a portfolio of Rs 6 b has a clear vision for customer service and is the only government backed Islamic financial institution in the country.

“We are growing at a rapid pace and the latest branch was opened in Puttalam expanding the branch network further,” People’s Finance PLC Managing Director D.P. Kumarage said. The recently set up money exchange counters are expected to contribute more to the bottom line.

“Many travel agents are patronising our services. We also have introduced innovative financial solutions through our palm top banking service and there will be more products offered to customers in the near future,” he said.

The customer-oriented approach has won confidence and the company is planning to increase the current savings base of the country which is 22 percent, with the introduction of novel products.

“We offer a competitive service and ensure customer convenience and time management to benefit customers. We are the first finance company to introduce a palm top banking service and will expand this to other services in the future as it is only for savings accounts at present,” Kumarage said.

Adequate insurance cover is the stability of People’s Finance and its strength is its parent company, the People's Bank. With innovation it can face the strong competition in the financial sector.

The recent name change of the company is to carry on financial businesses for which Central Bank approval is pending. "We will be the largest financial institution in Sri Lanka and the name change is the first step towards that milestone," he said.

SJ