State banks become TFC shareholders

The public share issue conducted by The Finance Company (TFC) Plc raised Rs 1.6 billion fresh capital and closed on January 27, successfully.

As planned, the share issue was mostly subscribed by prominent institutional investors and high net worth individuals.

As a result of these investments the largest banks in the country, Bank of Ceylon, Seylan Bank and People's Bank have become key shareholders of The Finance Company Plc.

Apart from this successful share issue closure, The Finance Company has proven to be a force to reckon with in the non-banking financial services market in Sri Lanka by obtaining over Rs 400 million in new deposits in January through its well-spread branch network across the country.

Encouraged by the confidence the public has placed in the organization and the stability achieved through the share issue, the company is now geared in embarking on a journey towards achieving the leadership position in the non-financial services market in Sri Lanka while strengthening the real-estate, hire-purchasing and pawning businesses of the company.