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Sept 31, 2011 (LBO) - Commercial Leasing Company, a unit of Sri Lanka's LOLC group, said it had received a finance company license from the banking regulator and will seek a public listing.
A finance company license allows a firm to raised public deposits instead of borrowing from other banks, making them more competitive.
But under Central Bank regulations all finance companies have to be listed.
Commercial Leasing was taken private in 2008, after an LOLC connected buyout of its promoting shareholders.
Commercial Leasing was founded by Commercial Bank, Chemanex and Singer Sri Lanka.
Amid strong sales of motor cars, leasing and hire purchase of motor vehicles have become a fast growing business in Sri Lanka in 2011.
http://www.lbo.lk/fullstory.php?nid=691697518
A finance company license allows a firm to raised public deposits instead of borrowing from other banks, making them more competitive.
But under Central Bank regulations all finance companies have to be listed.
Commercial Leasing was taken private in 2008, after an LOLC connected buyout of its promoting shareholders.
Commercial Leasing was founded by Commercial Bank, Chemanex and Singer Sri Lanka.
Amid strong sales of motor cars, leasing and hire purchase of motor vehicles have become a fast growing business in Sri Lanka in 2011.
http://www.lbo.lk/fullstory.php?nid=691697518
