In a move that affirms the financial strength and stability of People’s Leasing and Finance (PLC) as one of the largest non-banking financial institutions in Sri Lanka, PLC was listed at the 15th position in the Business Today Top 30 List.
From being ranked 18th in 2012, PLC today has grown into a powerhouse of stability and stature, confirming its strength with Fitch Ratings of AA(lka), B (international) and Standard and Poor rating of B+/B (international).
The prestigious Business Today Top 30 is an annual list compiled and published by Business Today magazine and ranks 30 of the best corporates by 10 criteria for their respective fiscal years. The ranking only includes publicly-held companies for which financial data are publicly available. Financial criteria such as sales turnover, growth in sales turnover, profits, growth in profits, return on equity, earnings per share, market capitalisation, value of shares transacted and value addition are used in determining the Business Today Top 30 List.
PLC, registered in 2011 as a public quoted company, has grown into a large network of 105 branches island wide with a focus on empowering SMEs. The company has been consistently recognised for operational excellence and the capability to develop customer centric products and services.
PLC recorded impressive results that saw the company declare Rs.5.48 billion as profit before tax and Rs.4.01 billion as profit after tax. It also saw a considerable increase of 21.01 percent for the year in their asset base which stood at Rs.150 million, while the net operating income rose by 7.53 percent.
As a company embracing modern technology, PLC retains a commitment to providing state-of-the-art tech solutions such as online financial transactions that encourage a new generation of customers to engage with them in a seamless manner.
PLC has also been recognised as one of the Best 10 Corporate Citizen in the country. Today, PLC continues to drive a performance based culture powered by a dynamic team comprising of over 2,600 personnel while sustaining a strong focus on understanding and responding to realistic customer needs, says PLC CEO/General Manager A.S. Ibrahim.
“We are pleased to be included in the Business Today Top 30 which reinforces our strength and stature as one of the key non-bank financial institutions in Sri Lanka,” says PLC Deputy Chairman Pradeep Amirthanayagam. “It augurs well not only for us but also for our customers who have consistently placed their trust in us.”
Today, the company maintains one of the largest deposit bases in the non-bank sector, comprising of fixed deposits and savings deposits amounting to Rs.44,722.55 million, registering a growth of 32.17 percent.
For 21 years, PLC has played an active role in harnessing the contribution of small and medium scale businesses towards powering the country’s economic drive – reinforcing customer confidence and boosting shareholder interest. It has today emerged as one of the biggest players in the non- bank financial services industry in Sri Lanka.