Nation Lanka Finance poised for strong growth

Opens new head office in Colombo:

Indunil HEWAGE

Nation Lanka Finance PLC which was awarded the license to operate as a finance company under the Finance and Business Act of the Central Bank is looking at increasing its asset and deposit portfolio by four-fold by the end of the financial year.

Nation Lanka Finance, a fully fledged financial services company in Sri Lanka is poised for a strong and stable growth in the coming years . A company official said, “they hope to achieve this target by expanding its branch network across the country by opening another 10 branches before the end of 2012.”

Nation Lanka Finance Director Asanga Seneviratne said, “the future seems bright for them as this year's demand for this segment in the country has increased. The product we offer for the micro finance sector is very strong with a large customer base, and this would all help to boost the bottom line.” Nation Lanka has a customer base of 15,000 and a diverse clientele, ranging from micro finance and SMEs to corporate clients.

The company also believes that the assistance extended to the micro finance sector would help entrepreneurs elevate themselves to SME level.

“Nation Lanka has been supporting the country's rural, semi urban, micro finance and SME sectors for over 25 years. We are hopeful that we can provide much needed financial assistance and services to the North and East to assist in the development of those areas. We are planning to add another 10 branches before the end of 2012, with this our entire branch network across the country would be 22,” Nation Lanka Finance PLC Chairman Jayantha Dharmadasa said.

The product portfolio of the company includes fixed deposits, leasing, higher purchase, personal loans, pawning, real estate and micro finance. Nation Lanka also owns a majority stake in Millennium Housing, which is one of the largest housing development companies in terms of units built and of Nation Lanka Equities Stock Brokers.

Nation Lanka's new head office was ceremonially opened at Dickmons Road, Colombo 5 yesterday.