PLC recognised by ‘Business Today’ as Listed Top Finance Company

Thursday, 27 November 2014 00:00 - - {{hitsCtrl.values.hits}}

People’s Leasing & Finance PLC (PLC), the flagship subsidiary of People’s Bank, retained the ranking amongst ‘Top 25’ listed companies for the second consecutive year with the improvement of four notches from 18th last year to 14th this year at the ‘Business Today Top 25- 2013/14 Awards’ held at the Hilton Hotel, Colombo recently. The award was received by N. Vasantha Kumar, Director and K.S. Bandaranayake, DGM – Finance and Administration of PLC.

The corporate management of PLC at the award ceremony recently held at Hilton Hotel, Colombo Being the largest non bank finance company in terms of its asset base and profitability, PLC consolidated its strong position and retained its supremacy by being recognised and ranks as the top listed finance company by this prestigious business magazine. The selection criteria was based on financial performance during the financial year 2013/14 and published information of companies listed on the Colombo Stock Exchange. Financial criteria considered include share turnover, revenue, profit after tax, return on equity, earnings per share, market capitalisation, value of shares transacted and value addition.

People’s Bank CEO/GM, PLC Director N. Vasantha Kumar and DGM – Finance and Administration Sanjeewa Bandaranayake receiving the award PLC was incorporate in August 1995, and became a listed company on 24 November 2011. People’s Leasing Group consists of five subsidiaries engaged in business activities including general insurance, microfinance, fleet management and property development. PLC is the only finance company with two international credit ratings from Fitch Rating International and Standard & Poor’s. PLC also retained the market leadership in leasing for the last 12 years consecutively.