Tuesday Jun 23, 2026
Tuesday Jun 23, 2026
Monday, 22 June 2026 00:02 - - {{hitsCtrl.values.hits}}
Indian High Commissioner Santosh Jha
From left: MIFL Director Kishore Reddy, Chairman Thilan Wijesinghe, Indian High Commissioner Santosh Jha, MIFL Managing Director Mufaddal Choonia and Director Devika Lal
Mahindra Ideal Finance PLC (MIFL) inaugurated its 38th branch in Kohuwela at a ceremony attended by India’s High Commissioner Santosh Jha, Mahindra Ideal Finance Chairman Thilan Wijesinghe, and Managing Director/CEO Mufaddal Choonia.
The Kohuwela branch has been established as a flagship outlet, offering the full range of MIFL’s core financial services including leasing, vehicle loans, draft loans, revolving loans, business loans and fixed deposits. Its location in a commercially active area of Colombo positions it to serve a broad base of vehicle dealers, importers, individuals and business customers.
MIFL now operates a network of 38 branches across Sri Lanka, with a presence built to bring regulated financial services within reach of customers nationwide.
Addressing the gathering at the inauguration, High Commissioner Jha emphasized that MIFL’s expansion reflects the strength and continued growth of the investment relationship between India and Sri Lanka.
“The growth of institutions like Mahindra Ideal Finance is a concrete expression of the India-Sri Lanka partnership. It is financial access being built into communities across Sri Lanka, and that is something both countries can take pride in.”
Managing Director/CEO Choonia said: “The opening of our Kohuwela branch is part of a deliberate direction MIFL is taking as a business. We want to be present where our customers are, and we want to offer them the full range of services they need, whether that is leasing, vehicle financing, draft facilities, business loans, fixed deposits or our revolving loan facilities. Accessibility and reliability are at the core of what we do, and Kohuwela brings us closer to the communities and businesses we are here to serve.”
With its 38th branch now operational, MIFL continues to build toward greater scale and deeper customer reach across Sri Lanka. The company holds a Fitch rating of AA-(lka) with a Stable Outlook and is debt listed on the Colombo Stock Exchange.
