Sri Lanka’s People’s Leasing eyes South East Asian market


May 31, 2016 (LBO) – Sri Lanka’s People’s Leasing and Finance, the country’s largest non-bank lender, is looking at expanding their operations into the South East Asian market, a senior official said.

“You can expect an announcement soon, may be in the next two months,” D P Kumarage, Chief Executive, People’s Leasing told LBO.

“We are looking at a few countries and now the discussion are in the final stages. We are very sure that it will happen.”

Kumarage said he is expecting about 10 -15 percent credit growth in the coming year, with most of the business coming from the larger players.

“Already about 70 percent of leasing came from about five lenders and we expect this trend may continue,” he said.

The Company celebrated its 20th Anniversary at the Colombo Stock Exchange by ring the bell to open market, Tuesday.

People’s Leasing is mostly in leasing commercial vehicles.