People’s Bank-People’s Leasing introduce co-branded credit card

From left: People’s Bank Senior Deputy General Manager Payment and Digital K.B. Rajapakse, Chief Executive Officer/General Manager Ranjith Kodituwakku, People’s Bank and People’s Leasing & Finance Chairman Sujeewa Rajapakse and People’s Leasing & Finance Chief Executive Officer/General Manager Shamindra Marcelline

People’s Bank, together with Sri Lanka’s pioneering state-owned non-banking financial institution People’s Leasing & Finance PLC (PLC) launched co-branded credit cards – VISA Platinum and VISA Signature – at a special ceremony held at the PLC head office recently. 

This collaboration brings together two giants of the banking and finance industry to bring a credit card like no other.  

The launch event was attended by People’s Bank and PLC Chairman Sujeewa Rajapakse, Chief Executive Officer/General Manager Ranjith Kodituwakku, People’s Leasing & Finance Chief Executive Officer/General Manager Shamindra Marcelline, People’s Bank Senior Deputy General Manager Payment and Digital K.B. Rajapakse, Head of Cards Jayanath Dias and several staff members from both organisations. 

The People’s Bank and PLC co-branded VISA Platinum and VISA Signature credit cards provide customers a wide array of benefits. Customers can avail themselves to special discounts when purchasing goods and services from selected outlets throughout the year, especially during the holiday seasons. Supplementary cards can be obtained for loved ones with Easy Settlement Plans of up to 36 months and interest-free credit period of 52 days. The People’s Bank 24-hour Customer Services Hotline is on hand for any customer inquiries while balance transfer facility and travel insurance are also available. Other notable features of the credit cards include zero percent instalment plan facility up to 40 months, zero percent instalment plan for insurance payments, zero percent instalment plans of up to 36 months at Intermediate Care Centres and other VISA offers. People’s Bank credit cards can also be obtained against a fixed deposit at a lower interest rate.

Addressing the audience at the event, Rajapakse stated, “Today, two of the largest financial institutions in the country have joined forces for a one-of-a-kind collaboration. People’s Bank is one of the best brands in the country while PLC is also one of the largest organisations with a highly reputable brand name. This collaboration paves the way for many benefits for us and having PLC on our card certainly gives us a boost. It also increases our efficiency in whatever we do. This co-branded credit card is going to be one of the best credit cards in the market, one which everyone would like to have in their wallet. We will continue to look at providing value additions to these cards so that customers will continue to use them regularly.”

Kodituwakku commented, “People’s Leasing and People’s Bank being part of the same group have done many things together for the benefit of both institutions and the country. So, this is yet another such occasion and I am sure there will be many more in the future. Customers of both organisations will undoubtedly benefit immensely from the synergies of such market leaders coming together.

Marcelline stated, “It is a proud occasion for both PLC and People’s Bank as we now have launched a co-branded credit card. I must say we can’t get a better brand out there into the market from a local perspective for People’s Bank is such a trusted brand by almost every individual and every household in Sri Lanka. There is no doubt that this card would be the most sought-after credit card for anyone in Sri Lanka. This collaboration shows that together we can form a very powerful financial operation, be it conventional banking or leasing and it will be a real powerhouse in the country.”