Who We Are

People's Leasing & Finance PLC: The Trusted Leader

Who We Are

People's Leasing & Finance PLC is a subsidiary of People's Bank and is a limited liability company listed on the Main Board of the Colombo Stock Exchange (CSE). Our Group consists of five subsidiaries, namely; People's Leasing Fleet Management Limited, People's Leasing Property Development Limited, People's Leasing Havelock Properties Limited, People's Microfinance Limited, and People's Insurance Limited. Having secured market leadership in the leasing industry just six years into operations, we have been successful in retaining this coveted title for more than ten years. In November 2012, the company received the licence from the Monetary Board of the Central Bank of Sri Lanka to conduct finance business under the Finance Business Act No.42 of 2011 and we now rank as the largest non-banking financial institution in Sri Lanka (in terms of the asset base).

Over the past decades, PLC has become the pioneer in providing value added financial services to Sri Lankans. With over 100 branches island-wide and a strong team of dedicated employees,

we have strengthened our bonds with our valued customers by satisfying all their financial requirements through our wide range of products and services. Our product portfolio mainly comprises finance leases, loans, deposits (fixed and saving deposits),Islamic products and factoring, but we also offer margin trading facilities while having the permit to buy, sell and exchange foreign currency notes and coins and encash travellers' cheques. Our product strategy is carefully designed to position PLC as a comprehensive financial services provider in the dynamic business environment of Sri Lanka today.

As PLC operates in the financial services industry and is also listed on the Main Board of the Colombo Stock Exchange, we are rigorously regulated and come under the direct purview of the Central Bank of Sri Lanka, the Securities and Exchange Commission of Sri Lanka and the Colombo Stock Exchange.

Our Vision

To become legendary in the financial-service scene as a provider of customer-friendly, creative and innovative total solutions

Our Mission

Dedicated value-added customer service to accomplish organizational service excellence whilst maintaining a sustainable competitive advantage

Our Core Values

Economic viability
environment responsibility
Social accountability

Our Key Differentiators

Committed and skilled workforce
Our diversified portfolio
Ability to respond to changing trends of external environment

Chief Executive Officer / GM – Mr. Sanjeewa Bandaranayake

Mr. Sanjeewa Bandaranayke has over 36 years of extensive experience, including 31 years of expertise in the Non-Banking Financial Institution (NBFI) sector. He joined People’s Leasing & Finance PLC (PLC) in 2007 as the DGM-Finance & Administration. At PLC, Mr. Badaranayake has led multiple strategic functions, including Finance, Treasury, Administration, Human Resources, Information Technology, Credit, and Marketing. His significant contribution to the Company’s growth helped PLC to achieve and maintain its position as the market leader in the NBFI sector for 15 consecutive years.

Mr. Sanjeewa Bandaranayake is a Fellow of the Institute of Chartered Accountants of Sri Lanka, Fellow of the Institute of Certified Management Accountants of Australia, Fellow of the Society of Certified Management Accountants of Sri Lanka and a Finalist of Chartered Institute of Management Accountants (UK).
The Central Bank of Sri Lanka appointed Mr. Bandaranayake to serve as the acting CEO to resurrect three troubled finance companies in 2009, 2013 and 2015.

Mr. Bandaranayake served as a Director of Credit Information Bureau (CRIB) for over a decade. He served as the Chairman of Leasing Association twice and a Board Member for over 10 years. He was also a Board Member of Finance House Association.

Former Acting Chief Executive – Mr. Udesh Gunawardena

Mr. Udesh Gunawardena is a seasoned professional with a wealth of experience in finance and operations management. As the Chief Operating Officer of People’s Leasing & Finance PLC, he played a pivotal role in driving the company’s strategic initiatives and ensuring operational excellence. With a career spanning over two decades, Mr. Gunawardena has established himself as a respected figure in the financial industry, demonstrating expertise across various domains.

Mr. Gunawardena’s academic qualifications underscore his dedication to continuous learning and professional development. Holding prestigious designations such as ACA (Associate Chartered Accountant) and ACMA (Associate of the Chartered Institute of Management Accountants) from Sri Lanka, he has also earned a Diploma in Treasury, Investments, and Risk Management from the Institute of Bankers of Sri Lanka (IBSL). This solid educational foundation equips him with the necessary knowledge and skills to navigate the complexities of the financial sector effectively.

Throughout his career, Mr. Gunawardena has held several key positions, each contributing to his holistic understanding of finance and business operations. His tenure as the Chief Financial Officer and Company Secretary of Lankan Alliance Finance Limited in Bangladesh provided him with invaluable international exposure and insights into diverse regulatory environments. Additionally, serving as the Deputy General Manager of Internal Audit at People’s Leasing & Finance PLC and as the Secretary to the Board Audit Committee further honed his expertise in risk management and corporate governance.

Mr. Gunawardena’s extensive experience spans accounting, auditing, financial management, and treasury operations, reflecting his versatility and proficiency in multifaceted roles within the financial landscape. His ability to adapt to changing market dynamics and his strategic vision have been instrumental in driving sustainable growth for the organizations he has served.

In addition to his role as Chief Operating Officer, Mr. Gunawardena holds notable positions as a Non-Executive Director of Lankan Alliance Finance Limited in Bangladesh and as a Director of the Leasing Association of Sri Lanka. These leadership roles underscore his commitment to contributing to the broader development of the financial industry and fostering collaboration across borders.

Mr. Gunawardena’s dedication and contributions to the field have not gone unnoticed. His achievement as a World Prize winner of the Australian Computer Society is a testament to his outstanding capabilities and accomplishments in the realm of finance and technology.

Mr. Udesh Gunawardena emerges as a distinguished figure in the finance sector, leveraging his extensive experience, academic credentials, and leadership acumen to drive organizational success and industry advancement. His strategic insights, coupled with his commitment to excellence, position him as a valuable asset to People’s Leasing & Finance PLC and the broader financial community.

Former CEO / GM, Mr. Shamindra Marcelline

Shamindra Marcelline, Senior Vice President/Head of Corporate Banking, DFCC Bank, Sri Lanka, joins People’s Leasing & Finance PLC as the Chief Executive Officer/General Manager with effect from 20th November 2020.

An experienced banker with local and foreign bank exposure in addition to working overseas for the HSBC Group, Mr Marcelline brings with him unique industry insights so as to contribute towards the strategic direction of the Company.

At DFCC, he spearheaded the Bank’s Corporate Banking strategic initiatives across the country and in overseas markets.

In October last year, he played a key role in securing the mandate for Sole Adviser and Structuring Bank for a Dual Tranche Bi-lateral Loan Facility for a leading Maldivian company, recognized as the largest ever loan facility given by DFCC Bank Sri Lanka.

As a member of the Bank’s Executive Committee, Asset and Liability Committee and Operational Risk Management Committee, Mr Marcelline played a strategic role in harnessing the Bank’s corporate initiatives.

He joined DFCC Bank following a cross posting, as the Country Manager, Maldives, by the HSBC Group.

He is credited with the transformation of the banking industry in Maldives and he was responsible for the largest asset drive in the islands at the time.

Under his stewardship, the development, performance and growth of the Commercial and Global Banking business consisting of corporate real estate, international subsidiary banking and public sector areas, grew into a formidable wholesale banking initiative. It included P&L responsibility and he successfully oversaw a team of Relationship and Product Managers, enabling the Bank to build and sustain strategic relationships with key stakeholders and business leaders.

He also headed the Financial Institutions Group and Public Sector for HSBC Sri Lanka and Maldives before joining the DFCC Bank.

Among his key achievements he had been successful in managing the Sri Lanka Sovereign and Quasi-Sovereign Institutions implementing the HSBC Group Investment Banking strategy.

Mr Marcelline has strong credentials in the banking and finance sector in Sri Lanka and has contributed towards showcasing Sri Lanka’s investment potential globally.

He has participated in multiple investor-road-show events held across the USA, UK, Middle East and South East Asia as a part of the initiatives driven by the Ministry of Finance, Central Bank of Sri Lanka and leading State and Commercial Banks.

Mr Marcelline graduated from the Colombo International School in Sri Lanka in 1993. He holds a Degree in Economics and Accountancy (BSc.) from City University (1996), London (UK) and also in Financial Advisors’ International Qualification (FAIQ), Chartered Insurance Institute, UK (2008).

Former CEO / GM, Mr. Sabry Ibrahim

Mr. Ibrahim was appointed as the CEO/GM of People’s Leasing & Finance PLC on 1 July 2017. Prior to that he held very senior positions both locally and internationally, as Senior Deputy General Manager, Wholesale Banking (October 2014 to September 2016) and as Senior Deputy General Manager, Risk Management (August 2007 to October 2014) at People’s Bank, Deputy General Manager, Head of Treasury, Head of Corporate Banking and Recoveries, Chief Risk Officer and Chief Credit Officer at Hatton National Bank PLC (2004 to 2007) and Head of Credit and GSAM at Standard Chartered Bank (2002 to 2004).

Mr. Ibrahim has over 34 years of banking experience, primarily in the areas of Corporate Banking, Treasury Management and Risk Management. He holds an Honors Degree (BSc) from the University of Colombo and is a Fellow Member of the Chartered Institute of Bankers – UK (FCIB). Mr. Ibrahim has also been a Director of HNB Securities (Pvt) Limited (2005 to 2007) and People’s Merchant Bank PLC (2009 to 2011). Currently he is also a Director of People’s Insurance PLC, People’s Microfinance Limited, People’s Leasing Fleet Management Limited, People’s Leasing Property Development Limited and People’s Leasing Havelock Properties Limited.

Former CEO / MD (1997 – 2017), Mr. D.P. Kumarage

After 20 years of yeomen service to PLC, Mr. D.P. Kumarage, CEO/GM of PLC and the Managing Director of the subsidiary companies of PLC, bid adieu to his achievement filled vibrant career. PLC was incorporated in 1995 as a wholly owned subsidiary of People’s Bank and Mr. Kumarage was appointed as the CEO/GM of PLC in 1997. Mr. Kumarage’s visionary leadership took the company to the helm of its success. Mr. Kumarage captained the company to become the undisputed leader in leasing and the largest non-bank finance company. He championed the listing of PLC on the Main Board of the CSE and took the business beyond Sri Lankan shores, expanding operations to Bangladesh. The name of Mr. D.P. Kumarage will be written in gold in PLC’s history.