20 September 2024 12:08 am Views - 17
From left: Commercial Bank of Ceylon Manager SME Central Region Madhuranga Rathnayake, Senior Manager Kandy Branch Mahesh Aberatne, Regional Manager Central Region Chaminda Ganegoda, AGM Personal Banking Varuna Kolamunna, Senior Assistant Manager Legal Sewwandi Gunasinghe, DGM Personal Banking Delakshan Hettiarachi, PMF Finance PLC Chairman Chandula Abewicrama, CEO Prof. Ajith Medis, DGM/Head of Channels and Operations Sujan Cooray, AGM Risk Athula Bandaranayake and Head of Branch Operations Bandara Chandrasekara
PMF Finance PLC has fortified its financial position through a significant capital boost from Commercial Bank of Ceylon PLC, Sri Lanka’s largest private commercial bank, with an initial disbursement of Rs.500 million out of Rs.1 billion.
This substantial funding is a strong endorsement of PMF Finance’s stability and credibility in the financial services sector, paving the way for enhanced growth and operational capacity.
The capital infusion will primarily support the development of small and medium enterprises (SMEs), a sector PMF Finance is deeply committed to nurturing. By channelling these resources into SME development, PMF Finance aims to contribute to the long-term growth of local businesses, fostering entrepreneurship and sustainable economic progress.
Commercial Bank of Ceylon PLC, the country’s leading private sector commercial bank, is renowned for its financial strength, stability and comprehensive range of banking solutions. With over a century of service, the bank has consistently been a reliable partner for businesses and individuals and its support of PMF Finance highlights its confidence in the company’s governance, vision and growth trajectory. Commercial Bank’s backing signifies a strong vote of confidence in PMF Finance’s long-term potential.
PMF Finance PLC Chairman Chandula Abewickrama remarked, “This substantial financial support from Commercial Bank is a testament to our financial stability and operational resilience. The trust placed in us by the largest private bank in the country speaks volumes about our reliability and the strength of our governance. We are excited to use this capital to empower SMEs, which form the backbone of Sri Lanka’s economy. By driving sustainable growth in this sector, we are not only enhancing our business but also contributing to the nation’s economic development.”
PMF Finance PLC Chief Executive Officer-Designated Prof. Ajith Medis added, “The funds we have secured will be instrumental in our efforts to strengthen the SME sector. We plan to strategically deploy this capital to provide innovative financial solutions that support the growth of small and medium businesses across various industries. Our focus on sustainable investment will ensure that these funds contribute to long-term economic development and employment creation, particularly in under-served markets.”
This major financial backing from Commercial Bank further reinforces PMF Finance’s position as a stable and trusted financial institution capable of driving sustainable investments and supporting Sri Lanka’s economic growth. PMF Finance remains committed to delivering value to its stakeholders while ensuring continued strength and growth in the ever-evolving financial landscape.