Seylan Merchant Leasing PLC (SMLL), a relatively new player among licensed finance companies, has built up a deposit base of Rs 1,580 million in just 18 months since it received its finance company licence, the company said this week.
SMLL has also established a savings deposit base of Rs 107 million between June 2007 and October 2008 and now has the third largest savings base among local finance companies, it said in a statement.
“SMLL experienced a lively year in 2007 with its conversion from a specialized leasing company to a registered finance company. At present, we cater to a 45,000 strong customer base including 20,000 in savings,” Seylan Merchant Bank Group Deputy.
Chairman Rohan Senanayake said. “The company has disbursed more than Rs 2000 million in leases and loans during this period, which is a significant achievement.”