People's Leasing & Finance PLC
CCSELK:PLC.N000017.00
LKR
+0.10
(+0.59%)
People's Leasing & Finance PLC
CSELK:PLC.N0000
(Colombo Stock Exchange)
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17.00
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in mil. unless spec.- Similar Companies
- Business
- People's Leasing & Finance PLC provides non-banking financial services, offering retail, commercial, and Islamic financial solutions to individuals, small and medium-sized enterprises, and corporate clients in Sri Lanka. The company operates through several core business segments, including Leasing, Loans, Islamic Finance, Term Deposits, Insurance, and Fleet Management. Its principal product and service offerings comprise vehicle and equipment finance leasing for commercial vehicles, passenger cars, three-wheelers, and agricultural machinery; term loans, SME financing, and working capital loans; gold loans and pawning services; personal, educational, and housing loans; fixed deposits and savings accounts with customizable tenures; and Shari'ah-compliant financing solutions under its dedicated Islamic business unit, encompassing Ijarah, Murabaha, and Mudharabah products. In addition, the company delivers general insurance products covering motor, non-motor, property, and medical policies through its subsidiary; comprehensive auto repair, valuation, and fleet maintenance solutions via specialized service facilities; and property development and real estate management services. Headquartered in Colombo, Sri Lanka, People's Leasing & Finance PLC was founded in 1995 and operates as a flagship subsidiary of People's Bank, one of Sri Lanka's largest state-owned commercial banks. The company distributes its solutions through an extensive island-wide branch network across all nine provinces of Sri Lanka, augmented by dedicated Islamic finance centers, auto care centers, and an overseas joint-venture footprint in Bangladesh via Lankan Alliance Finance Limited. In recent developments, People's Leasing & Finance PLC has accelerated its digital transformation roadmap with extensive enhancements to its proprietary PLC Touch mobile banking application and online self-service customer portal, integrating electronic Know-Your-Customer onboarding, automated loan processing, and seamless digital transaction capabilities through the LankaPay network. To support domestic economic recovery, the company has expanded its specialized financial packages for micro, small, and medium enterprises, introducing targeted credit lines and advisory support for women entrepreneurs and agricultural supply chains. The institution has also launched dedicated green financing products to fund rooftop solar installations and energy-efficient commercial transport, while forming strategic commercial partnerships with leading vehicle and machinery importers. Furthermore, the company continues to optimize its risk management framework and Tier 1 capital structure in compliance with Central Bank of Sri Lanka regulatory directives, reinforcing its liquidity profile, branch automation, and regional financial inclusion programs.