Central Finance, FMO ties up

Netherlands Development Finance Company (FMO) has provided a Rupee Term Loan to grant Lease and Hire Purchase Facilities to small and medium scale entrepreneurs at competitive rates amounting to Euro 6 million, which is approximately Rs. 950 million.

FMO is the international development bank of the Netherlands. FMO invests risk capital in companies and financial institutions in developing countries.

FMO's investment portfolio is Euro 2.7 billion, (in Sri Lanka Euro 40 million) and FMO is one of the largest bilateral development banks worldwide.

Thanks in part to its relationship with the Dutch government, FMO is able to take risks which commercial financiers are not - or not yet - prepared to take. FMO's mission: to create flourishing enterprises, which can serve as engines of sustainable growth in their countries.

Central Finance (CF) is celebrating 50 years of stability, dedication and loyal service to the nation. A household name which needs no introduction in Sri Lanka is a well-established finance house with a reputation built on trust and dependability.

In recognition of its strong financial profile and its dominant market position, CF has been conferred an 'A+ (lka)' rating by Fitch Ratings Lanka - the highest rating granted up to now to any finance company.

CF's portfolio is dominated by over 70 per cent of vehicle finance leases to Small and Medium Scale Entrepreneurs and hire purchase finances account for about 20 per cent of the annual operations. A further 10 per cent is on Operating Leases to the Corporate Sector. Customer deposits finance the bulk of CF's assets.