George Steuart Finance debuts; offers full array of financial services

George Steuart Finance Ltd. on Wednesday unveiled to the public the new corporate name and its future plans for growth.

The company also announced the approval for listing on the Diri Savi Board of the Colombo Stock Exchange in the near future.

Central Bank Governor Nivard Cabraal was the Chief Guest at the launch whilst George Steuart Finance Chairman Prof. Arjuna De Silva, and Board of Directors, customers, investors and stock brokers were also present. George Steuart Finance’s origins can be traced to Asia Commerce Ltd., set up in 2005, and later as Divasa Finance.

Having joined forces with the George Steuart Group, one of the oldest and most reputed mercantile establishments in the country, the company is now at an advantage to enjoy the synergies available within the Group which has diversified interests in businesses such as health, manufacturing, exports, leisure, engineering, construction, recruitment, education and now finance.

George Steuart Finance Chairman Prof. De Silva, who is also Director General of the Institute of Sports Medicine, quoting the Olympics motto said the company would aspire to become a ‘stronger’ and ‘higher’ finance company, ‘faster’ enabling customers and other stakeholders to shine.

Chief Guest Cabraal commended the launch of George Steuart Finance and its decision to harness the unfolding opportunities in the country as well as support its growth.

He said that the rebranding of Divasa Finance as George Steuart Finance was taking place at a time when Sri Lanka too was undergoing a rebranding exercise as a resilient nation post-war with greater confidence.

He expressed hope that with the support of shareholders and customers George Steuart Finance would expand and make its contribution to the prosperity of Sri Lanka.

Director and CEO Lakshman Uduwara said: “We are now stronger by being part of the reputed George Steuart Group, a mercantile establishment unrivalled and unparalleled in Sri Lanka.”

“With this affiliation, we now project an enhanced corporate image and stability, gives ample confidence to potential investors. The public needs to know that their money is secure whilst earning the best returns. Also, customers are attracted by a friendly, convenient atmosphere. Our valued customers are assured that they will receive total satisfaction when dealing with us. In keeping with the Group’s culture and corporate values our company stands dedicated to adhere to the highest levels of good governance, transparency and integrity,” he added.

Uduwara also revealed that the sixth branch of the GS Finance would shortly be opened in Kurunegala from where the company would roll out its micro finance services aimed at serving the entrepreneurs in the grass roots.

George Steuart Finance currently offers comprehensive services such as fixed deposits, leases, hire purchase, loans, short term trade finance, cheques and bills discounting, margin trading and real estate development. The company’s dedicated research team looks forward to introducing many innovative financial products that will add value and uplift the lives of upwardly mobile Sri Lankan people.

The company’s portfolio of deposits and advances has shown an impressive growth during the last two years. The human resource capital of the company has also improved in leaps and bounds, facilitating the operational infrastructure and the offering of a superlative standard of services to customers.

George Steuart Finance was initially established as Asia Commerce (Pvt) Ltd., a dedicated leasing company in 2005. Broad basing the capital structure, growing the product profile and bringing in industry professionals to strengthen the Board, in May 2011, on being granted the Finance Company license, in order to deliver a better financial product, the company moved to its modern office complex on Galle Road, Colombo 3.

Today, backed by the strength of the George Steuart Group, the company stands confidently poised to support the industry growth, setting a new benchmark as a dynamic force in the corporate sector of Sri Lanka.