Expansion Idea

June 27, 2013 (LBO) – Sri Lanka’s People’s Leasing and Finance Plc, the island’s largest non-bank lender is studying investments in fast growing economies in South East Asia, shareholders were told. “We have already earmarked to penetrate into the growth centric Southeast Asia possibly Vietnam, Myanmar and Indonesia,” chief executive D P Kumarage said in the annual report.

“We have initiated a feasibility study to seek the prospects and legal implications of investing in these markets.

“We do look forward to cross this threshold for the oncoming phase of our corporate ascent.”

People’s Leasing is already Sri Lanka’s largest non-bank lender with gross assets of 83 billion rupees as a standalone firm and 101 billion rupees in group assets.

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