Richard Pieris Arpico Finance launched

Sara Pathirana

Richard Pieris Group unveiled its latest venture, Richard Pieris Arpico Finance Limited (RPAF), recently at an event in Colombo. RPAF has received the regulatory approval from the Central Bank of Sri Lanka (CBSL) to commence operations as a finance company.

“Richard Pieris has progressed immensely over the past 12 years with a stable diversification into a wide array of business ventures branching onto all growing aspects.

The Financial Services Sector has been identified as an area with great potential in an emerging market such as Sri Lanka and so we have ventured into Stock-brokering, Asset Management and Investment Banking and Insurance within the past two years. With our latest incision into Finance and Leasing, we want to focus on providing innovative financial products and services to our clients,” Dr. Sena Yaddehige, Chairman, Richard Pieris Group said.

A services portfolio ranging from micro finance, leasing and finance to hire-purchasing and deposit mobilization, client divisions will be closely monitored and studied on a regular basis for the company to work on achieving the goal of becoming the most preferred total financial service provider.

Richard Pieris Arpico Finance Limited is headed by Chief Executive Officer, K. M. M. Jabir, who is a top professional in the financial industry.

“There will be numerous value additions through the strength of the varied sectors in the group,” Jabir said. With an asset base of Rs. 25 billion, Richard Pieris Group thrives in being in the forefront of the sectors of plantations, rubber, tires, plastics, retail, construction, logistics and distribution in the country and is also looking to diversify and is projecting its focus on penetrating the Far East.

“Ours is a simple strategy that we want to follow; we aim to strategize passionately without just implementing towards a money focused entity.

Arpico Finance is an extension of our services to our customers,” Dr. Yaddehige said.

To meet demanding factors socially and to reach out to their clients, Arpico Finance’s primary objective is to provide quality service through branches that will be set up to reach across to the customers across the country.