Sri Lanka’s People’s Leasing eyes, Bangladesh, Myanmar, Vietnam

ECONOMYNEXT – Sri Lanka’s People’s Leasing and Finance Plc, the country’s largest non-bank lender is mulling expanding into Bangladesh, Myanmar or Vietnam, Chief Executive D P Kumarage said.

The firm saw slow growth in the six months to September 2015 with loans and receivables growing 5.6 percent to 103.4 billion rupees.

Kumarage said he is expecting about 15 percent credit growth in the coming year, with most of the business coming from the larger players.

Already about 70 percent of leasing came from about five lenders and the trend may continue he said.

People’s Leasing is mostly is mostly in leasing commercial vehicles.

There was a boom in car credit which came mostly from banks, he said.

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