SMB Leasing gets finance business license from CBSL

SMB Finance Chairman Ravi Wijeratne (left) receiving the finance business license from CBSL Assistant Governor J.P.R. Karunaratne. SMB Finance Director Anura Chandrasiri, CEO Supul Wijesinghe and CBSL Department of Supervision of Non-Bank Financial Institutions Director Chanoori Jayasinghe also present

SMB Leasing PLC, a specialised leasing company, was yesterday granted a finance business license under the Finance Business Act No. 42 of 2011 by the Monetary Board of the Central Bank (CBSL) under the Non-Bank Financial Institutions Sector Consolidation Plan. 

The company will now be known as “SMB Finance PLC”. 

Prior to being granted the finance business license, SMB Leasing PLC was registered as a specialised leasing company with the CBSL. Since the establishment of the company in 1992, the company has been providing a portfolio of financial services to customers across the country. At present, SMB has expanded its portfolios covering all lending products with a clientele covering individuals, SMEs as well as corporates.

SMB Finance Chairman Ravi Wijeratne said: “In the past three decades, the company has grown to be a prominent player in the industry, with a reputation for trust, transparency and accountability. We are confident that the upgrading to a licensed finance company will fuel our growth and long-term sustainability.” 

He thanked CSBL Assistant Governor J.P.R. Karunaratne and the Department of Supervision of Non-Bank Financial Institutions Director R.M.C.H.K. Jayasinghe for their invaluable guidance and advice in this transformation.

SMB Finance CEO Supul Wijesinghe said: “We have a highly dedicated team with an admirable attitude and commitment which in my view is the biggest strength of the company. Discipline, honesty, integrity, transparency and accountability play an integral role in our work culture. 

“Our team strives for excellence in order to create value for our shareholders and customers whilst maintaining an ethical and respectful work environment fulfilling all statutory, fiduciary and regulatory responsibilities.”  

“We are confident that the upgrading to a licensed finance company will open a new chapter in the history of the company with a broader scope and enhanced opportunities. We wish to thank our customers for their loyal patronage and our shareholders for their unwavering confidence placed on the company,” Wijesinghe added.