Peoples Leasing & Finance

What Peoples Leasing & Finance does

People's Leasing and Finance PLC (PLC, CSE: PLC.N0000) is the largest non-banking financial institution (NBFI) in Sri Lanka by asset base, operating with LKR 280Bn+ of assets, 113+ island-wide branches, 450,000+ customers and 3,000+ employees. Incorporated in 1995 as a wholly-owned subsidiary of state-owned People's Bank and listed on the Main Board of the Colombo Stock Exchange in 2011 after an oversubscribed LKR 7bn IPO, the company delivers leasing, auto loans, personal/business/housing/educational loans, fixed deposits, savings products, gold loans, margin trading, factoring, Islamic finance (via the PLC Al-Safa unit) and insurance referrals (via People's Insurance PLC subsidiary). It is regulated by the Monetary Board of the Central Bank of Sri Lanka under the Finance Business Act No. 42 of 2011 and holds an A-(lka) credit rating from Fitch Ratings Lanka on Rating Watch negative.

Name

Peoples Leasing & Finance

Legal name

People's Leasing & Finance PLC

Website

https://plc.lk

Company type

Public

Founded year

1995

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

People's Leasing and Finance PLC is Sri Lanka's largest NBFI, offering leasing, loans, deposits, gold loans, Islamic finance and insurance referrals to retail and SME customers across 113+ branches.

Ownership category

akta.pro rank

Product category

Non-Bank Financial Services (Leasing and Finance)

NAICS

Automotive Equipment Rental and Leasing (5321), Passenger Car Leasing (532112), Commercial and Industrial Machinery and Equipment Rental and Leasing (5324)

SIC

Finance Lessors (6172), Services-Auto Rental & Leasing (No Drivers) (7510)

akta.pro primary industry

Auto & Vehicle Leasing (Personal Use) (FSAKANAA)

akta.pro secondary industries

SME Equipment & Asset Finance (Leasing, Fleet, Capex) (FSABABAH), Leasing & Lease Buyout Financing (FSAKADAC), SME & Small Business Vehicle Leasing (TLABAAAB)

Keywords

• Non-bank financial services
• Vehicle leasing solutions
• Fixed deposit savings
• Gold-backed lending
• Shariah-compliant finance

Headquarters

HQ city

Borella

HQ country

Sri Lanka

HQ region

Asia

Offices16 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Finance Leases: Operating leases for vehicles, machinery and equipment. Core business generating significant portion of revenue through interest income and leasing fees.
2. Loans: Personal loans, auto loans, business loans, housing loans, educational loans. Interest-bearing facilities with flexible repayment terms.
3. Fixed Deposits: Term deposits with competitive interest rates, offering monthly or maturity-based interest payments. Key source of funding.
4. Savings Accounts: Various savings products including regular savings, senior citizen savings, minor savings with competitive interest rates.
5. Islamic Finance (PLC Al-Safa): Shariah-compliant products including Ijarah (leasing), Murabaha (trade financing), Mudharabah savings. Marking 20th anniversary in Islamic banking.
6. Gold Loans: Collateral-backed lending against gold jewelry with quick approval and competitive rates. Includes Gold Cash card facility.
7. Margin Trading: Securities-backed lending facilities for stock market investments.
8. Factoring: Invoice factoring services for businesses.
9. Foreign Exchange Services: Permission to buy, sell and exchange foreign currency notes and coins, encash travellers' cheques. Western Union partnership.
10. Insurance Services: Referrals to People's Insurance PLC subsidiary for comprehensive vehicle and asset insurance.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels11 records

Core offering

People's Leasing & Finance PLC is a licensed non-bank financial institution providing leasing and hire-purchase finance for vehicles, machinery and equipment, alongside personal, auto, housing, educational and business loans, fixed deposits and savings accounts, gold-backed lending through the Gold Loan and Gold Cash Card products, margin trading and factoring facilities. Operating since 1996 as a wholly owned subsidiary of state-owned People's Bank, the company serves 450,000+ customers through 113+ island-wide branches and digital channels, with a dedicated Shariah-compliant Islamic finance division (PLC Al-Safa) offering Mudharabah savings, Ijarah leasing and Murabaha financing.

Product overview

People's Leasing & Finance PLC operates as a diversified non-bank financial institution offering a comprehensive suite of financial products and services. The core product portfolio consists of leasing and loan solutions (People's Friendly Lease, Auto Loan, Fast Track, Business Loans, Self-e-cash, Quick Cash Personal Loan, Housing Loan, Educational Loan), fixed deposits and savings products (Fixed Deposits, Senior Citizen Deposits, Super Savings, Senehasa Minor Savings, Premier Reward Plan), and gold-backed financing (Gold Loan, Gold Cash Card). The company provides digital banking platforms including PLC Online (web-based) and PLC Touch (mobile app), along with margin trading and factoring services. PLC Al-Safa serves as the Shariah-compliant Islamic finance sub-brand offering Mudharabah savings, Ijarah leasing, and Murabaha financing products. Additional services include Western Union international remittances through People's Bank partnership.

Differentiator

Problem solved

Functional benefit

Brands

• PLC Online: Digital online banking platform for PLC customers
• PLC Touch
• PLC Al-Safa
• Classique
• Gold Cash
• eDoc
• Sanasum Piyasa
• People's Friendly Lease

Products and services

• People's Friendly Lease Tailormade leasing solutions with competitive and affordable rates for vehicles and equipment, available to individuals and businesses.
• Auto Loan Vehicle financing for cars, vans, dual cabs and SUVs with flexible repayment plans and competitive interest rates.
• Fast Track Loan Quick approval financing solution for urgent financial needs with expedited processing.
• Business Loans Financing solutions tailored for business enterprises to support operational growth and expansion.
• Self-e-cash Overdraft facility against fixed deposits allowing customers to access funds while maintaining their deposit savings, available via PLC Online platform.
• Quick Cash Personal Loan Personal loan facility providing quick access to cash for individual financial needs.
• Housing Loan (Sanasum Piyasa) Non-traditional flexible housing loan with borrower substitution, asset replacement, flexible repayment and grace period up to 5 years.
• Educational Loan Higher education financing for local and international studies with lending capacity up to Rs. 5 million disbursed directly to educational institutions.
• Fixed Deposits Competitive fixed deposit products with high security and various maturity options from 1 month to 60 months.
• Fixed Deposits Senior Citizen Specialized fixed deposit product for customers aged 60 years and above with enhanced tiered interest rates from 6.5% to 7.25% AER.
• Super Savings Savings account with competitive interest rates and access to funds through the branch network and ATMs.
• Senehasa Minor Savings Savings account for children below 18 years, opened by parents or legal guardians, with favorable profit rates.
• Senehasa Minors' Fixed Deposits Fixed deposit product for minors, first such product from the NBFI sector in Sri Lanka.
• Premier Reward Plan Targeted savings plan where customers set aside fixed monthly installments (minimum Rs.1,000) to achieve a savings goal over 2-5 years.
• Gold Loan Speedy gold-backed loans providing immediate liquidity against gold jewelry collateral with quick approval processes.
• Gold Cash Card ATM-enabled card linked to gold loan accounts, allowing customers to withdraw cash or use card payments directly from their gold loan facility.
• PLC Online (Digital Banking Platform) Comprehensive digital banking platform enabling account management, fund transfers, utility payments, loan applications and self-service e-cash loan facilities.
• PLC Touch Mobile App Mobile banking application offering smart digital access to PLC services with Two-Factor Authentication for secure transactions.
• Margin Trading Securities trading facility allowing customers to trade on the Colombo Stock Exchange with borrowed funds through securities-backed lending.
• Factoring Accounts receivable financing solution helping businesses manage cash flow by selling receivables, providing invoice factoring services.
• PLC Al-Safa (Islamic Finance) Shariah-compliant financial services division offering Islamic banking products including Mudharabah savings, Ijarah leasing, Murabaha financing, and Wadiah gold safekeeping.
• Mudharabah Savings Account (Al-Safa) Shariah-compliant savings account operating on Islamic Mudharabah principle with profit-sharing ratios and VISA debit card access.
• Ijarah (Islamic Leasing - Al-Safa) Shariah-compliant leasing product for vehicles, machinery and equipment with variable rental rates and repayment periods up to 7 years.
• Murabaha (Islamic Trade Financing - Al-Safa) Shariah-compliant cost-plus financing for purchase of goods and assets with agreed profit margins under Islamic trade financing principles.
• Foreign Remittance (Western Union) International money transfer services through Western Union partnership enabling global remittance capabilities from Sri Lanka to overseas destinations.

Quantifiable outcome

• Assets Managed: LKR 280Bn+
• +5 more outcomes

Named customers16 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature7 records

Partnerships

22 partnerships are on record, tiered flagship, core and minor.

• Hayleys Fentons LimitedflagshipStrategic or Co-development Partner · 1 March 2026Partnership to launch exclusive vehicle financing scheme. Combined expertise for enhanced customer offerings in vehicle leasing and financing.
• Toyota Lanka (Private) LimitedflagshipStrategic or Co-development Partner · 1 January 2026Memorandum of Understanding signed to offer comprehensive leasing facilities to Toyota customers. Strategic alliance for vehicle financing providing exclusive benefits for Toyota vehicle purchases.
• David Pieris AutomobileflagshipStrategic or Co-development Partner · 1 January 2026Exclusive financing partnership for BAIC and GWM vehicles. Provides specialized auto financing solutions to automobile dealer customers.
• Sri Lanka Transport BoardcoreGTM or Marketing Partner · 1 January 2026CSR partnership to ensure harassment-free public transport for women and children. Social impact partnership addressing transportation safety concerns.
• Nileka Jewellery (Private) LimitedcoreStrategic or Co-development Partner · 1 September 2025Partnership to make gold jewelry more accessible. Combined financing options for gold jewelry purchases through Nileka Jewellery outlets.
• SenokcoreStrategic or Co-development Partner · 1 June 2025Special leasing facility partnership for Eicher commercial vehicles. Provides competitive financing options for commercial vehicle fleet acquisitions.
• Crown Auto (Private) LimitedcoreChannel Partner/ Reseller/ Distributor · 1 June 2025Exclusive benefits partnership for auto financing. Channel partnership providing vehicle financing to Crown Auto customers.
• Micro Cars (Pvt) LtdcoreStrategic or Co-development Partner · 1 June 2025Bus leasing facilities partnership. Joint offering for public transport vehicle financing.
• INDRA TradersminorStrategic or Co-development Partner · 1 June 2025Enhanced leasing solutions partnership for vehicle financing. Strategic collaboration for expanded customer reach.
• DIMOcoreStrategic or Co-development Partner · 1 April 2025Leasing solutions partnership for Tata commercial vehicle range. Additional partnership for agricultural sector support combining vehicle financing with agricultural development.
• Kandy Municipal CouncilminorStrategic or Co-development Partner · 1 January 2025QR code partnership enabling real-time public engagement. Digital transformation initiative for municipal services.
• Nileka JewellerycoreStrategic or Co-development Partner · 1 January 2025Financing partnership to make gold jewelry more accessible. Product partnership expanding gold loan offerings through jewelry dealer channel.
• Hayleys SolarcoreStrategic or Co-development Partner · 1 January 2024Solar power financing partnership making sustainable energy accessible to all. Green financing initiative for solar panel installations.
• Sri Lankan Cricketing Stars (Dananjaya De Silva and Kamindu Mendis)coreGTM or Marketing Partner · 1 January 2023Brand ambassador partnership featuring Sri Lankan cricketers. Marketing partnership leveraging sports celebrity endorsement for brand visibility.
• People's Bank (Western Union)coreStrategic or Co-development Partner · 1 January 2023Partnership established in 2023 to enable Western Union international money transfers. Provides foreign remittance services through People's Bank's Western Union agency.
• Seylan Merchant Leasing PLCcoreOthers · 1 January 2009Acquired in 2009/10 expanding market share and customer base in the leasing sector.
• People's Leasing Fleet Management LimitedcoreOthersSubsidiary company established in 2008/09 for fleet management services. Part of the PLC Group of companies providing specialized vehicle fleet solutions.
• People's Leasing Property Development LimitedcoreOthersSubsidiary established in 2008/09 for property development activities. Part of PLC Group diversification strategy.
• People's Leasing Havelock Properties LimitedcoreOthersSubsidiary established in 2010/11 to consolidate group properties, including the Havelock Branch Auditorium. Part of organizational restructuring.
• People's Microfinance LimitedcoreOthersSubsidiary established in 2010/11 for inclusive finance through microfinance services. Expands financial inclusion to underserved segments.
• People's Insurance PLCcoreOthersSubsidiary established in 2009/10 offering insurance solutions. Listed on CSE in 2015/16 providing one-stop financial solutions. Insurance referrals integrated with leasing products.
• Alliance Finance PLCcoreOthersBangladesh-based subsidiary enabling regional expansion. Part of PLC Group's beyond-shore operations initiated in 2016/17.

Scale indicators17 records

Recent moves15 records

Expansion highlights6 records

Direct peers

• Softlogic Finance PLC: CSE-listed NBFI within the Softlogic Group providing leasing, hire-purchase, business loans, gold loans and fixed deposits. Direct comparator for PLC's consumer and SME auto/equipment leasing book.
• Merchant Bank of Sri Lanka & Finance PLC: State-linked Sri Lankan NBFI offering leasing, loans, deposits and Islamic finance. Comparable deposit-funded leasing/funding model and similar regulatory positioning to PLC under CBSL oversight.
• HNB Finance PLC: Leading Sri Lankan NBFI focused on leasing, hire-purchase and personal/auto loans. Closest direct competitor to PLC in the NBFI-leasing space with comparable product mix (leases, gold loans, fixed deposits) and branch distribution.
• Central Finance PLC: One of Sri Lanka's oldest and largest NBFIs with a leasing-heavy book (auto, equipment, SME) and an island-wide branch network. Direct competitor to PLC across both consumer auto and SME/equipment leasing segments.
• Commercial Credit & Finance PLC: CSE-listed Sri Lankan NBFI operating in leasing, hire-purchase, microfinance and fixed deposits. Overlaps with PLC across auto leasing, SME lending and savings products with similar deposit-funded model.
• LB Finance PLC: Major Sri Lankan NBFI offering leasing, loans, deposits and Islamic finance. Privately led and aggressive on growth, making it the most relevant privately-owned comparison set for PLC's leasing business.
• Orient Finance PLC: Smaller CSE-listed Sri Lankan NBFI active in leasing, microfinance and gold loans. Comparable product set to PLC, but at smaller scale — useful for competitive benchmark and market-share context.
• LOLC Development Finance PLC (formerly LOLC Finance): NBFI subsidiary of LOLC Group offering leasing, SME and micro loans plus Islamic finance. Competes with PLC on SME/equipment leasing and gold loans, and is part of a larger diversified financial group.

Broad incumbents

• People's Bank (parent): State-owned universal commercial bank that owns PLC. Provides funding, branch ("Window Office") distribution and regulatory credibility; useful as a reference point for how PLC's NBFI business sits within a broader banking group.

Emerging players

• Singer Sri Lanka PLC: CSE-listed consumer-durables retailer that operates a captive consumer finance/leasing arm for appliances and electronics. Adjacent comparison for PLC's consumer-finance underwriting and instalment-book mechanics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/PeoplesLeasing
• Facebookfacebook.com/PeoplesLeasingFinancePLC

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Peoples Leasing & Finance