Mahindra Ideal Finance opens Kohuwela branch

From left: Kishore Reddy, Thilan Wijesinghe, Santosh Jha, Mufaddal Choonia and Devika Lal at inauguration of MIFL’s 38th branch in Kohuwela

• Expands its presence in Automotive Hub of Colombo district 

Mahindra Ideal Finance PLC (MIFL) inaugurated its 38th branch in Kohuwela at a ceremony attended by High Commissioner of India to Sri Lanka Santosh Jha, MIFL Chairman Thilan Wijesinghe and MIFL Managing Director and CEO Mufaddal Choonia.

The Kohuwela branch has been established as a flagship outlet, offering the full range of MIFL’s core financial services including leasing, vehicle loans, draft loans, revolving loans, business loans and fixed deposits. Its location in a commercially active area of Colombo positions it to serve a broad base of vehicle dealers, importers, individuals and business customers.

MIFL now operates a network of 38 branches across Sri Lanka, with a presence built to bring regulated financial services within reach of customers nationwide.

Addressing the gathering at the inauguration, Jha emphasised that MIFL’s expansion reflects the strength and continued growth of the investment relationship between India and Sri Lanka.

“The growth of institutions like MIFL is a concrete expression of the India-Sri Lanka partnership. It is financial access being built into communities across Sri Lanka and that is something both countries can take pride in.”

Choonia said, “The opening of our Kohuwela branch is part of a deliberate direction MIFL is taking as a business. We want to be present where our customers are and we want to offer them the full range of services they need, whether that is leasing, vehicle financing, draft facilities, business loans, fixed deposits or our revolving loan facilities. Accessibility and reliability are at the core of what we do and Kohuwela brings us closer to the communities and businesses we are here to serve.”

With its 38th branch now operational, MIFL continues to build toward greater scale and deeper customer reach across Sri Lanka. The company holds a Fitch rating of AA-(lka), with a Stable Outlook and is debt listed on the Colombo Stock Exchange.