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.
To become legendary in the financial-service scene as a provider of customer-friendly. Creative and innovative total solutions
Dedicated value-added customer service to accomplish organizational service excellence whilst maintaining a sustainable competitive advantage
- Economic viability
- Enviromental responsibility
- Social accountability
- Committed and skilled workforce
- Our diversified portfolio
- Ability to respond to changing trends of external enviroment
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 / 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.
1995 / 96Incorporated on 22nd August 1995 as People's Leasing Company as a private limited liability company and a fully owned subsidiary of People's Bank
1996 / 97Commenced operations on 31st May 1996 with three employees and Rs. 10 Mn. Capital
1997 / 98Opened first branch in KandyRelocated PLC Head Office from Bambalapitiya to Colombo 02
1999 / 00Initiated computerization at PLC Head OfficeRanked 4th in the leasing industry
2000 / 01Unveiled new corporate logo as a public limited companyOpened PLC Vehicle Yard at Borella People's Bank premises
2001 / 02Linked branches via online system to save customers better
2002 / 03PLC became the market leader in the leasing industry in Sri Lanka for the first time
2004 / 05Received first ever award as a 'Runner Up' at annual report awards hosted by ICASL
2005 / 06Launched the Islamic Finance Service Unit
2006 / 07Launched www.plc.lk official web site
2007 / 08Introduced unique 'Window Office' concept - a service desk established in People's Bank branches to increase customer reach cost effectively
2008 / 09Diversified operations through two subsidiaries; People's Leasing Property Development Ltd. and People's Leasing Fleet Management Ltd
2009 / 10Acquisition of Seylan Merchant Leasing PLCEstablished People's Insurance Limited to offer one stop solutions
2010 / 11Inclusive finance through People's Microfinance Ltd.Formed People's Leasing Havelock Properties Ltd. To consolidate the entire group.
2011 / 12Relocated to the new Head Office building in BorellaBecame a public quoted company upon an over subscribed IPO
2012 / 13Unveiled the corporate identity as People's Leasing & Finance PLCWon the financial services provider of the year at the SLIM Nielsen People's Awards for the first timeRecognized as one of ten “Best corporate Citizen” presented by Ceylon Chamber of Commerce for the first timeReceived two foreign ratings 'Standard and Poor' (B+/B) and 'Fitch Rating International' (B+)B+Milestone of opening more than 100 branches island-wide.
2014 / 15Became a Carbon certified companyBecame first NBFI to record historical sales volume exceeding Rs. 6 Bn in November 2014
2015 / 16Became first NBFI to record historical sales volume exceeding Rs. 7 Bn in September 2016Insurance subsidiary of PLC was listed as a public quoted company, People's Insurance PLC
2016 / 17PLC marked 20th year in operationsInitiated beyond the shore operation in Bangladesh