Financial Times

Ceylinco Finance PLC repositioned as ‘Nation Lanka Finance’

The strategic repositioning of Ceylinco Finance PLC gets underway to harness maximum benefits from its core competencies with a new paradigm shift in its identity as “Nation Lanka Finance “to compete more successfully in today’s high competitive marketplace.

The re-launching of the company under the new name was announced at a media conference held in Colombo on Wednesday. The company’s new chairman N.B.S.B. Balalle told journalists that his main priority is to introduce good governance and to manage risks of the company strengthening and rebuilding the customer confidence in a transparent manner.

He expressed the confidence that he will be able to turnaround the company to achieve greater heights in the financial sector in Sri Lanka. He added that action will be taken to exploit company strengths to meet those customer needs better and quicker than everyone else building a culture around market intelligence and customer focus. He added that Ceylinco Finance (now Nation Lanka Finance) was an asset rich company with over 12,500 share holders. He said that he is planning to introduce a cost conscious culture to the institution while restructuring the activities of the company focusing on long term stability.

CEO of Nation Lanka Finance, Bede Fernando said that every effort will be taken to transform the company as a major player in the consumer finance market. It will add Leasing, Real Estate and Investments, Savings and financial mobilisation. He disclosed that the company will divest certain selected business /assets including property in Colombo, land and buildings in suburban areas. “A decision has been taken to sell 12 subsidiaries of the company as and when we get a good price in the market.”

“These measures will be taken to improve the liquidity position of the company,” he said.
The Nation Lanka Finance plans expand its network to the North and East as well as to serve the rural agricultural community through customising products and services to cater to their specific requirements.

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