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People’s Merchant launches operations as licensed finance company

8 May 2012 05:40 am - 0     - {{hitsCtrl.values.hits}}

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People’s Merchant PLC recently marked the transformation of the company’s strengths gained over a period of three decades into a licensed finance company, under the Finance Business Act No.42 of 2011, with a launch ceremony held at its head office at Navam Mawatha. The Chief Guest on the occasion was Economic Development Minister Basil Rajapaksa, Deputy Minister of Land and Land Development Siripala Gamlath, Central Bank of Sri Lanka Deputy Governor Chandra Premaratne and People’s Bank Chairman W. Karunajeewa were the Guests of Honour. A large gathering of customers and wellwishers of the company participated at this ceremony, where a record number of fixed deposit investments were made.a commemorative plaque was also unveiled on this occasion by the Chief Guest Basil Rajapakse at the invitation of People’s Merchant PLC Chairman Ajith Panditharatne.

People’s Merchant PLC, set up in 1983 was the first merchant banking institution in the country and has over the years consistently evolved to meet the emerging challenges and opportunities in the market and has diversified into leasing, hire purchase, term loans, pawning, real estate, margin lending, bill discounting and fixed deposits. People’s Merchant is also aspiring to further develop its merchant banking business by providing innovative merchant banking solutions.

The company is listed on the main board of the Colombo Stock Exchange and has the People’s Bank group as its major shareholder and the Capital Trust group as its second largest shareholder.

The company offers a personalized customer service and competitive rates through its island-wide branch network and earned the trust and confidence of its large and diverse customer base over the last 30 years. People’s Merchant PLC is to continue with the process of diversification and remain as a pro-active and hands on people’s organisation, committed to adding value to all stakeholders and positively contributing towards the economic prosperity of Sri Lanka.

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