People’s Leasing & Finance PLC
Annual Report 2019/20
About People's Leasing
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.
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The Parent lends us its:
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Strong credit ratingStrong credit rating of [A+] (lka) by Fitch Ratings Lanka Limited is a reflection of Company’s credibility. |
Our key differentiators:
Organisation culture, ethics, and values:
Group structure
| Subsidiaries | 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 |
| Ownership |  |
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| Principal activities | Carrying out general insurance business | Providing non-bank financial services to individuals who lack access to conventional banking and micro enterprises | Fleet management, vehicle valuation, sale of vehicles, insurance assessment, and vehicles repairing | Carrying out mixed development projects and property development activities | Operate an office complex | Providing leasing of movable and immovable properties and to provide loans |
| Country of incorporation | Sri Lanka |
Sri Lanka |
Sri Lanka |
Sri Lanka |
Sri Lanka |
Bangladesh |
Highlights of subsidiaries
People’s Insurance PLC
| 31 March 2020 | |
| Financial highlights | Rs. million |
| Net earned premium | 5,262 |
| Profit before tax | 912 |
| Profit after tax | 648 |
| Total assets | 9,580 |
| ROE (%) | 18.27 |
People’s Micro-commerce Ltd.
| 31 March 2020 | |
| Financial highlights | Rs. million |
| Interest income | 842 |
| Profit before tax | 49 |
| Profit after tax | 25 |
| Total assets | 2,871 |
| ROE (%) | 11.51 |
People’s Leasing Fleet
Management Limited
| 31 March 2020 | |
| Financial highlights | Rs. million |
| Turnover | 238 |
| Profit before tax | 39 |
| Profit after tax | 27 |
| Total assets | 449 |
| ROE (%) | 9.13 |
People’s Leasing Property
Development Limited
| 31 March 2020 | |
| Financial highlights | Rs. million |
| Total Revenue | 445 |
| Profit before tax | 313 |
| Profit after tax | 243 |
| Total assets | 2,662 |
| ROE (%) | 15.22 |
People’s Leasing Havelock
Properties Limited
| 31 March 2020 | |
| Financial highlights | Rs. million |
| Revenue | 219 |
| Profit before tax* | 50 |
| Profit after tax | 50 |
| Total assets | 2,682 |
| ROE (%) | 4.34 |
Lankan Alliance
Finance Limited
| 31 March 2020 | |
| Financial highlights | Rs. million |
| Gross income | 498 |
| Profit before tax | 155 |
| Profit after tax | 83 |
| Total assets | 4,484 |
| ROE (%) | 3.19 |
Our journey
The 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.
Where we stand
People’s Leasing occupies an enviable position in the NBFI sector of the country.
Business volumes
People’s Leasing accounts for 14.10% of deposits, 13.40% of loans and advances and 11.98% of total assets of the industry.
Profitability
People’s Leasing is one of the most profitable players with 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 20.75% YoY against the industry growth of 5.57%.
Asset quality
NPA ratio 7.62% is well below the industry average of 10.59%