Assetline Leasing Company was recently granted a finance company licence under the Central Bank of Sri Lanka’s Non-Bank Financial Institutions Sector Consolidation Plan.
The Company will now be known as ‘Assetline Finance Limited’ (Assetline).
The flagship company of the David Pieris Group’s financial services cluster, Assetline was incorporated in 2003 and registered with CBSL as a specialised leasing company. The Company was initially established to provide leasing to facilitate lower income, rural populations to purchase three-wheelers, two-wheelers and small vehicles. Today, Assetline has expanded its portfolio to include all lending products and its clientele to cover SMEs. With an Islandwide network of 55 branches and 24/7 operated Easy Pay machines, the Company has remained true to its objective of providing financial inclusion and access to those who may otherwise be overlooked.
Rohana Dissanayake, Chairman of Assetline and Chairman and Managing Director the David Pieris Group said, “In the past 19 years, the Company has grown from small beginnings to be a leader in the industry, built on a reputation of trust, transparency and values that are inherent in the David Pieris Group of Companies.” He thanked the Director Supervision, NBFI Sector and her team at CBSL for their support and guidance. He also acknowledged the pivotal role played by the employees of Assetline who continue to go the extra mile despite the challenging times faced by the industry over the past few years.
Ashan Nissanka, CEO and Director of Assetline said, “We are confident that the change to a finance company will fuel our growth and long-term sustainability. The Assetline team is highly motivated and energised as we move to the next chapter of our Company’s history. There is much for our customers and other stakeholders to look forward with Assetline in the near future. The transformation to the finance business will happen over the next few months, and we will keep our customers and the public informed.”