14. People's Leasing and Finance
People's Leasing and Finance (PLC) rises to number 14 in the Business Today TOP 30 for the year 2015-2016. With D P Kumarage, CEO/General Manager at the helm supported by the young and dynamic management team, the Company has performed consistently to be the market leader in the non-banking financial institution sector in Sri Lanka. PLC is the largest and the highest profit making non-bank financial institution in the country.
Having celebrated its 20th year in 2016, the Company has performed consistently over the year and is now in a period of consolidation. The Company continues to enhance staff capability while investing in IT. PLC focused on an ethical and responsible approach for value creation thereby prioritizing on long term gains and sustainable business.
Revenue was recorded at 22.58 billion rupees while PAT was 4.74 billion rupees. People's Insurance, which was listed in the CSE during the financial year contributed 16 per cent to the consolidated revenue. Assets grew at 11.89 per cent to 131.09 billion rupees.
While PLC has the stability of the state sector it operates with the independence of the private sector, as such the company is able to provide efficient, customer-centric products and solutions.
With an expanding branch network within Sri Lanka, PLC is also venturing overseas where operations have started in Bangladesh and the company will continue to focus on expansion in the Asian region as well.
As the country develops with new opportunities, the customer will look towards PLC as the selected choice for financial services and products that will cater to their requirements. It is no doubt that the capable team at PLC will continue to innovate and strategise so that the Company maintains its growth momentum.