‘TFC will reaffirm market leader position under MBSL guidance’ - Janaka Rathnayake

Gayan Kanchana

Under the professional guidance of Merchant Bank of Sri Lanka (MBSL), The Finance Company (TFC) will reaffirm its position as the market leader and continue to serve the country and its people with indigenous products and services to all communities, said Chairman (MBSL) Janaka Rathnayake.

MBSL was appointed management agent for TFC by the Central Bank of Sri Lanka last week. “The end of the war brings new hope and prosperity.

We believe that the time is right to venture into new businesses and grab the opportunities in the market. TFC has a huge potential with the opening of the North and the East for businesses,” said Rathnayake at a press conference held yesterday.

He said that MBSL is positive on regaining the confidence of the TFC depositors and the public which will enable TFC to begin normal business activities soon under their guidance. “Our management committee will be on hand to guide the affairs of TFC.

We at MBSL believe in good corporate governance and transparency of our operations. We have built a result oriented culture-based on trust on integrity, openness and performance. This has been the success of MBSL over the years,” he said.

“Unfortunately, with the global economic and financial meltdown, and its repercussions on Sri Lanka, coupled with the scandals that took place in Sri Lanka such as the Golden Key, Sakvithi etc., the company had a run on its deposits placing TFC in dire straits,” Rathnayake said.