What does it take to build a legend?
In our experience it is a journey –
one that begins with our Vision and Mission.
Our VisionTo become legendary in the financial-service scene as a provider of customer-friendly, creative and innovative total solutions |
Our MissionDedicated value-added customer service to accomplish organisational service excellence whilst maintaining a sustainable competitive advantage |
The legend so far…As legends go, People’s Leasing has already made a name for itself as a trusted brand |
We are one of Sri Lanka’s largest non-bank financial institutions (NBFI) with a Brand value of Rs. 8.7 billion.
75%-owned by People’s Bank The parent lends us its: Credibility Capital Liquidity Stability |
People’s Leasing’s differentiators: Skilled and engaged workforce Diversified portfolio Agility in responding to industry trends One stop financial solutions provider Being a responsible corporate citizen |
People’s Leasing is the most rated non-bank financial institution in the country with three ratings:
AA-(lka)from Fitch Ratings Lanka Limited |
B-one notch below Sovereign from |
Our focus on financial inclusion governs our operations, prompting us to respond to all stakeholders with deliverable core values of –
Guided by our Vision, Mission and values, as a responsible financial services provider, we offer responsible lending and financial protection solutions abiding by relevant legislation, integrating environmental, social and governance (ESG) criteria into business operations and create value for our stakeholders through our tested processes, committed staff and the state-of-the-art technology.
GRI 102-5
To avoid duplicating the activities of our major shareholder we limit our services to those who are not a key stakeholder for People’s Bank.
Subsidiaries | Associate | |||||
People’s Insurance PLC |
People’s Micro-commerce Ltd. |
People’s Leasing Fleet Management Limited |
People’s Leasing Property Development Limited |
People’s Leasing Havelock Properties Limited |
Lankan Alliance Finance Limited |
People’s Merchant Finance PLC |
Ownership |
Ownership |
Ownership |
Ownership |
Ownership |
Ownership |
Ownership |
More details of our subsidiaries and associate
GRI 102-7The journey so far has been eventful. Established in 1995, People’s Leasing was registered in 2012 as a licensed finance company under the Finance Business Act No. 42 of 2011.
Customer touchpoints |
Employee number |
Capital | Deposits | Subsidiaries/ associates |
Product range |
1 branch in Kandy | 3 | Rs. 10 million | Deposits not accepted |
None | Lease Hire purchase |
103 branches | 2,329 | Rs. 28,603 million | Rs. 88 billion | 6 subsidiaries 1 associate | Leasing
Loans Islamic finance Deposits Margin trading Factoring |
Digitalising the customer journey |
Empowering recovery process |
Strengthening our team with new cadre |
Improve credit quality through focused training |
Continued adherence to regulatory capital adequacy requirements |
Diversifying our product and service offer in line with our customer expectations |
Strategising our marketing initiatives by leveraging Group synergy and our competitive service environment |
Investing in multimodal digital presence |
Increasing social media presence |
Building a competent, engaged, and motivated team |
Rolling out products across more branches |
Continuing our commitment to be a responsible corporate citizen |
Given below is a summary industry comparison of key performance indicators.
2018/19 | 2017/18 | |||
Indicator | Industry* | People’s Leasing | Industry* | People’s Leasing |
Business volumes (Rs. billion) | ||||
Loans and advances | 1,137.0 | 151.7 | 1,057.1 | 140.2 |
Investments | 109.7 | 15.4 | 118.1 | 13.8 |
Deposits | 716.8 | 88.4 | 686.7 | 69.8 |
Borrowings | 463.8 | 48.5 | 396.0 | 55.7 |
Capital | 183.7 | 28.6 | 169.7 | 27.0 |
Total assets | 1,431.3 | 172.5 | 1,355.0 | 160.7 |
Profitability (%) | ||||
Return on assets (ROA) | 2.7 | 3.9 | 3.2 | 3.7 |
Return on equity (ROE) | 12.1 | 15.9 | 16.1 | 16.7 |
Net interest margin (NIM) | 7.4 | 9.7 | 7.7 | 8.4 |
Core capital ratio | 9.9 | 14.4 | 12.4 | 18.4 |
Total risk weighted capital ratio | 11.2 | 15.2 | 13.1 | 16.5 |
Source of funds (%) | ||||
Total deposits | 52.5 | 53.4 | 54.83 | 45.7 |
Total borrowings | 34.0 | 29.3 | 31.62 | 36.6 |
Capital elements | 13.5 | 17.3 | 13.55 | 17.7 |
Use of funds (%) | ||||
Loans and advances | 79.4 | 87.9 | 78.0 | 87.2 |
Investments | 7.7 | 8.9 | 8.7 | 8.6 |
Other assets | 12.9 | 3.2 | 13.3 | 4.2 |
Asset growth | 5.6 | 7.4 | 11.8 | 7.3 |
Loans and advances (YoY growth) | 7.6 | 8.2 | 9.8 | 5.2 |
Asset quality (%) | ||||
Gross NPA ratio | 7.7 | 3.9 | 5.9 | 2.7 |
Net NPA ratio | 2.4 | 0.9 | 1.5 | 0.7 |
*Source: Central Bank of Sri Lanka Annual Reports 2017 and 2018 (figures as at 31 December 2017 and 2018).
As evident across a gamut of indicators, People’s Leasing occupies an enviable position in the NBFI sector of the country. |
Business volumes People’s Leasing accounts for 12.3% of deposits, 13.3% of loans and advances and 12.1% of total assets of the industry. |
Profitability People’s Leasing is one of the most profitable players with well above the industry average ROA and ROE levels. |
Source of funds A focused approach based on a long-term strategy saw deposit base growing by 26.6% YoY against the industry growth of mere 4.4%. |
Use of funds Interest earning assets accounts for 94.8% of the total assets, depicting robustness of our financial intermediation. |
Asset quality Possesses a loans and advances portfolio with one of the highest levels of asset quality and with a provision cover of 70%. |