The Finance celebrated their 75th Anniversary with many eminent personalities from both political as well as the corporate sectors.
In 2014, The Finance was taken over by the Monetary Board of the Central Bank of Sri Lanka and put through the phases of a restructuring programme, which ensured that the company adhered to the faith that people had invested, that is focused on turning around the company to a fresh start. The new Board of Directors were appointed by the Monetary Board and the company is now being lead by the dynamic leadership and vision of Aruna Lekamge, Managing Director and guided by Dr S H A M Abeyratne, Chairman and the board of directors.
“The 75th anniversary is a very important day for everyone here at The Finance, even to our customers,” said Aruna Lekamge, the current Managing Director of the company who is well known in the industry as a restructuring expert having been instrumental in the restructuring of Sri Lanka Insurance Corporation and having also served as the Senior National Coordinator for relief operations and the head of Technical Support Services Unit of the Red Cross that aided in the rehabilitation and reconstruction in the post Tsunami period. “There is a good news to be shared. After taking over the company, within one year we have been able to reduce the revenue losses by half while all the financial indicators are improving steadily. As such, we are now on the way to reach the break-even point in terms of revenue and in another one to two years we hope to make a profit, with a positive impact on our balance sheets.”
He further mentioned, “we are not just profit motivated, but we also look into the needs of the public and how we can aid our nation. We have a social responsibility and we are responsible for our stakeholders, including internal and external customers and shareholders. Now that young blood has come into the company, we are looking at ways to increase our revenue and reduce losses by striving to turn non-yielding assets to yielding assets. The Finance is a national asset. And here we are paying attention to how we can regain the number one position in the finance industry with our plan of ‘Regaining The Finance’ while being of service to the nation. And in this plan I have to convey my gratitude to two people. Tissa Ekanayake, Executive Director of Operations who is also the longest serving member in the senior hierarchy and who is a tower of strength when running the day to day operations and the live wire of the company. And the other person is Ramesh Abeywickrema, Executive Director, Finance who oversees the finances to ensure a strict accountable financial discipline.”
To this end, The Finance has introduced several novel products targeting entrepreneurs including Rataviruwo, a scheme that is directed towards migrant workers. This scheme involves providing loans for migrant workers to migrate and to build their houses. As an additional benefit under this scheme, the family membersof the migrant employees are given the opportunity to develop a livelihood as well. As of now, 3,500 loans have been extended under this facility and the number of loans given increase every month.
Some of the services provided by the company include fixed deposits, easy loans, savings, Iturum Surakum savings, TFC housing projects, TFC commercial properties, land sales, leasing, hire purchase, Rataviru Rakawarana Sewa, TFC Ran Ganudenu and vehicle facilities.