Rs 25m in deposits invested :
The Finance Company regains customer confidence
The Finance Company PLC has re-gained customer confidence under the
management of Merchant Bank Sri Lanka (MBSL).
This was made known at the launch of TFC exclusive ‘Loyalty Card’, 24
hours Service Centre and opening of the pawning centre at The Finance
House in Colombo yesterday. Deposits to the tune of Rs 25 million were
invested by new and current customers.
Central Bank Governor, Ajith Nivard Cabraal, the chief guest at the
event said that The Finance Company has taken a new road with the
dedicated work of the new management at a time when many people thought
it would totally collapse. But today the country is financially stable,
investments keep coming in and inflation has dropped to .07 percent.
It was a miracle but it happened through a lot of hard work and sheer
dedication of many people with the support of Government institutions,
The private sector did not come forward at this point and there would
have been serious problem had it not been for Government institutes.
The infrastructure development is not confined to Colombo. The per
capita income has increased and within 4-5 years the inflation rate
could be further reduced, Cabraal said.
Merchant Bank, Chairman, Janaka Ratnayake said that the company is
back on track and all operations undertaken by the MBSL such as ABC
Insurance Company and Sussex Educational Centres are active and
Ratnayake said that the company has made steady progress with an
income of Rs. 1 billion last month, interest had been paid to all
customers, the jobs of 1,200 employees had been secured and all dues had
been successfully recovered. He guaranteed the sustainability of the
company for many years with profitability.
Ratnayake invited customers who placed their trust with the company
during the testing times to continue business as they will be rewarded
with loyalty cards titled ‘TFC Exclusive’ with benefits such as special
low rates for their future borrowings, special interest rates for future
deposits and priority service to TFC Exclusive customers.
The 24-hour Service Centre and Pawning Centre at the Head Office
premises will offer faster and more efficient service to their
customers, he said.