People’s Leasing offers rupees 60 Billion as COVID-19 loan relief | Daily News

People’s Leasing offers rupees 60 Billion as COVID-19 loan relief

Chairman of People’s Bank and People’s Leasing Sujeewa Rajapakse accompanied by former CEO/GM Sabry Ibrahim donating Rupees Five Million to Dr P B Jayasundara, Secretary to Hon. President.
Chairman of People’s Bank and People’s Leasing Sujeewa Rajapakse accompanied by former CEO/GM Sabry Ibrahim donating Rupees Five Million to Dr P B Jayasundara, Secretary to Hon. President.

Sri Lanka’s leading non-bank finance sector company, People’s Leasing & Finance PLC by conforming to directives of the Central Bank of Sri Lanka has offered concessionary interest on loans and Leases to over 75,000 of its customers.

Conforming with the directives specified by the Central Bank of Sri Lanka (CBSL) circular 11/2020 with regard to this subject, PLC offered this relief to customers who were Covid 19 victims. Under the program, a six-month grace period has been offered for loan repayment and also a component of setting off loans within a budget of LKR. 60 Billion making PLC the nonbank finance company in Sri Lanka that has offered the highest amount of loan relief.

In addition, PLC made a generous donation of Five Million rupees to the ‘Itukama Covid 19 Health and Social Safety fund’ on the day of its inauguration.

Shamindra Marcelline, CEO/GM, of People’s Leasing speaking on the company’s generous move towards offering relief to COVID 19 victims said, PLC apart from being a People’s friendly finance company, is a company that has achieved great heights with the support of the people in the country.

“As a socially responsible company, we always think it is our duty to offer support to our customers when they are in misery. This time around, we took every possible measure to relieve our customers from financial strain as and when financial assistance was sought by Covid 19 victims amongst them. We have already offered financial relief to over 75,000 Covid 19 victims. Ours is the nonbank finance sector company in Sri Lanka that has offered the greatest volume of financial relief to customers. As a company, we are happy to have served this purpose beyond our customers’ expectations. PLC’s financial stability was our greatest strength in achieving these heights.”

People’s Leasing started its business operations in 1996 as a wholly-owned subsidiary of one of the largest State banks in Sri Lanka, People’s Bank. People’s Leasing is currently the highest-rated non-bank financial institution in the country, with a “A+(Ika)” rating from Fitch Ratings Lanka Ltd and the number one ranked non-banking financial services brand by Brand Finance PLC.

The Company was also recognized as one of the ten best corporate citizens in the country by the Ceylon Chamber of Commerce. People’s Leasing Ranked No. 03 in Transparency in Corporate Reporting (TRAC) by the Transparency International Sri Lanka (TISL).