People’s Leasing & Finance PLC

Annual Report 2019/20


Stakeholder Identification, Stakeholder Engagement, Materiality Mapping, and responding to our most valued stakeholders

Stakeholders are individuals or groups that have a considerable impact on our operations. We understand the importance of clear, transparent, consistent engagement with our stakeholder groups, and have implemented strategies to meet their expectations. We maintain a number of formal mechanisms to remain linked to our stakeholder groups. In addition, we also share responsibility for such linkage across the Organisation at every point of contact with our stakeholders.

Stakeholder identification

Being a responsible and inclusive financial solutions provider, we strive to promote sustainable development in Sri Lanka. From our vision, mission, purpose, and our code of ethics, we uphold our commitment to act responsibly towards our most valued stakeholders.

Our stakeholders are the individuals, groups, and organisations that significantly affect or could be significantly affected by our strategy execution and how we conduct our business activities.




Suppliers and business partners

Community and environment

Government and regulatory institutions

Trends observed in our operating environment

As we focus on delivering value to stakeholders, we need to identify material topics where we believe we can make a positive impact. These topics are also determined by identifying the following trends observed in our operating environment in connection with our core business activities.

  • Financial inclusion is increasingly becoming a national priority
  • Political instability
  • Technological innovation
  • Regulatory developments
  • Protection and privacy controls in digitalising finance
  • High-impact weather events
  • Unexpected disease outbreaks
  • Climate change
  • Increased competition from competitors and new digital service providers
  • Rapidly changing customer expectations and behaviours
  • Demand for artificial intelligence

Stakeholder engagement

We engage with our stakeholders through a decentralised stakeholder engagement approach all the year round and we use various engagement platforms appropriate to the needs of each stakeholder group.

We understand that our sustainable growth is dependent on our key stakeholder perceptions of value we create for them. Hence, we value feedback from them about their concerns and perceptions of value engaging with our stakeholders through the following channels.

Stakeholder engagement, frequency, their concerns, and our response

Stakeholder Mode of engagement Frequency Key concerns Our response

Annual Report Annually   Balanced performance, transparency

Consistent bottom line

Business continuity

ESG concerns

Migration to digital channels

Reputation, credibility and Brand Image

Lower operational costs

Asset quality, reduced NPL

Plans for growth
Release and publish of information on integrated performance

Performance driven culture

Prudent risk management practices/Corporate governance framework

Optimise resource use

Invest and encourage in house developers to develop digital channels

Accolades and rankings by independent institutions/rating agencies

Effective resource optimisation, performance-based rewards

Stringent cost management systems

Customer advisory services Strategies to deliver sustainable value
Interim Financial Statements Quarterly
Annual General Meeting Annually
Disclosures and Announcements to CSE As Required
Corporate Website Ongoing
Email and telephone Ongoing
Written communication As required
Press releases As required
One-to-one meetings As required
Customers Print, electronic and social media Ongoing   Financial stability of the Company

Product/service-related information

Accessibility, convenience

Migration to digital channels

Financial literacy, advisory, relationship management

Cost of borrowing, ROI

Speedy service


Stable ratings

Health, safety, and wellbeing

Customer privacy
Increased presence on social and print media on new products and corporate news

Continued trilingual clear communication

Promoted tech driven financial platform “PLC Online” towards increasing accessibility

Continued in-house training for staff on digital channels

Continued customer financial advisory through trained staff

Continued to offer customised products to suit customer income pattern/investment plan

Reduced time taken for decision making through e-memo system

Streamlined customer complaint resolution process

Streamlined formal customer complaint resolution process

Introduced Covid-19-related safety measures at our points of contact

Strengthened customer data privacy through system based controls
Written communication As required
Call centre, Branch network 24x7, Business hours
Tech-based platforms Ongoing
Customer visits Ongoing
Day-to-day business interactions Ongoing
Corporate website Ongoing
Press releases As required
Advertisements/propaganda campaigns As required
Outreach CSR initiatives As required
One to one dialogue As required
Employees Management Committee Meetings As required   Materiality concerns

Future plans for sustainable growth

Business continuity

Employee awareness

Operational changes

Make staff future ready

Employee recognition and achievement

Up skilling and career progression

Employee Health and Safety

Business ethics

Remuneration and other benefits
Business operations continuity post Easter attacks and during Covid-19

Engaged staff at different levels to develop strategic plan for the Company

Operational changes based on performance reviews and uncertainty in operating environment

Inspire staff and update staff on latest developments

Work from home facility during Covid-19, welfare events, support staff in sports events to promote their talents

Develop knowledge, skills and competencies of staff

Premier Awards’ to recognise and reward outstanding staff performance

Established a platform to raise employee concerns

Introduced Covid-19-related safety measures at our points of contact

Promoted voluntarily compliance on “responsible business” criteria

Amidst disturbed operations corporate management forwent benefits to incentivise staff
Strategic Planning Session Annually
Corporate communication via e-mail/circular As required
Social media groups and text messages Periodically
Technology driven platforms Periodically
Online learning, in house training, Toastmasters Club Ongoing
Annual Employee Recognition Awards Ongoing
People’s Leasing Employee Union Ongoing
Operational guidelines Ongoing
Employee grievances Ongoing

Suppliers and business partners
Direct Dialogue As required   Ethical sourcing


New business opportunities

Fair price

On time delivery


Responsible labour practices

Responsible environmental practices
Regularly engaged with suppliers to monitor performance

Screened suppliers for their responsible business practices

Reviewed and updated credentials to select ethical suppliers

Encouraged innovation for reliable suppliers

Encouraged suppliers to expand business

Continued sourcing from SMEs

Continued fair sourcing practices

Provided advisory services to support suppliers grow
Supplier appraisals Annually
Supplier registration Annually
Field visits Periodically
Memorandums of Understanding As required
Service agreements Annually
Written communication (letters/emails) As required
Telephone conversations As required

Community and Environment
Corporate website Ongoing   Engaging in anti-social activities

Unmet/undermet infrastructure needs

Public service improvement

Lack of financial literacy

Guidance on business development

Limitations in vocational education

Responsible lending

Advancement of Sustainable Development Goals (SDGs)

Health, safety, and wellbeing

Community empowerment and capacity building

Violation of environment related laws

Transactions with potential risks

Optimising resource use

Responsible sourcing

Environmental pollution

Declining forest cover Climate change
Ensured minimum negative direct social impact of our operations

Invested in public infrastructure development

Invested in public service improvement

Created financial literacy

Provided financial advisory

Continued vocational scholarships to support vocational education

Continued educational scholarships to support school education

Contributed towards the advancement of SDGs

Educated stakeholders on Covid-19 prevention

Supported to resolve community-based national priorities

Ensured minimum negative direct environmental impact of our operations

Continued education of staff and customers on environment friendly business practices

Provided e-learning and classroom-based training for frontline staff on responsible lending

Calculated carbon footprint for the 7th time/Invested Rs. 3.32 million on outreach green CSR initiatives

Disbursed 1.87 billion worth green vehicle facilities

Responsibly disposed 3,558kg worth of hazardous electronic waste

Worked collaboratively with customers to mitigate identified environmental risks
Direct communication As required
Dialogue with institutions, community leaders and Community Based Organisations (CBOs) As required
Public events and training/awareness programmes As required
Outreach CSR initiatives As per CSR Plan
Field visits and credit evaluations As required
Press releases As required
Social media On a regular basis
Sponsorships As requested
Telephone conversations and written communication Ongoing
Outreach CSR initiatives Periodically
Environment Management System Annually
Carbon footprint data tracking exercise As required
Environment-related awareness/training programmes As required
Field visits and credit evaluations As required
Press releases Ongoing

and regulatory
On-site review by the CBSL As required   Compliance and good governance

Cybersecurity, action against financial crime

New regulations

Supporting SMEs and economic growth

Voluntary compliance

Payment of taxes/fees/levies

Prevention of corruption
Complied with mandatory legislation, rules and other regulatory requirements

Introduced Covid-19-related safety measures at our points of contact

Shared insights and technical expertise on key industry related policy issues

Supported the development of ethical business

Voluntarily complied with codes and best practices

Continued alternative payment plans during customers’ financial distress

Complied with transparent reporting
Dialogue with policymakers and regulators As required
Press releases As required
Directives and circulars As required
Corporate website Ongoing
Review Meetings As required
Compliance reports As required