People's Leasing concludes Rs.400 m deal with Sampath Bank
PEOPLE'S Leasing Company Limited PLC issued Lease Backed Trust
Certificates (LBTC) for Rs. 400 Mn. The entire issue was taken up by
Sampath Bank whilst Deutsche Bank AG Acts as the Trustee to the issue.
These Trust certificates are secured by a quality lease portfolio.
(PLC), the Market Leader for three consecutive years as well in terms of
business volume.
PLC commenced its operations in 1996 as a fully owned subsidiary of
People's Bank. PLC was formed to carry out leasing finance for the
customers of People's Bank.
Currently PLC has a network of 16 branches in major cities with a
customer base of over 25,000. All branches are linked online to the Head
Office with sophisticated computer system.
PLC recorded a profit of Rs. 310 Mn during last financial year
(2004/2005), after charging for general provision of Rs. 137 Mn in
addition to the specific provision.
Sampath Bank by adding this investment to its portfolio has once
again displayed its innovative banking concept, known over a period of
time to constantly innovate and adopt cutting edge technology to deliver
lifestyle enhancing financial solutions.
A single minded vision drives Sampath Bank to continue to be "The
Growing force in the Sri Lankan Financial Services". |