Edirisinghe Trust Investments an EAP Group company relaunched its services Wednesday, venturing into the leasing business. Edirisinghe Trust Investments an EAP Group company relaunched its services Wednesday, venturing into the leasing business. ETI, a strong player in the pawning business for over 35 years, said its leasing business was only the beginning of its stride into the financial services sector, with plans to grow the financial empire to including insurance and commercial banking.
Chief Executive Mahendra de Silva told Lanka Business Online that ETI would kick of its financial sector expansion with the leasing business in the lead, with personal loans and real estate finances.
The insurance business is a likely next step, says de Sliva, with commercial banking operations coming sometime after that.
Some Rs. 450 million in gold held with its pawning arm would be securitised in a four year deal to raise fresh capital for the leasing venture.
De Silva says the deal is still being put together and would take till later in September before the securitisation goes through.
ETI so far has mobil