What is the difference between people's finance and people's bank?

ccsentha

ccsentha

Vice President - Equity Analytics

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What is the difference between people's finance and people's bank?

Why is there a need for people's finance when people bank itself can do that job?

what tasks does people's finance do which people's bank cannot do

Slstock

Slstock

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SMLL is subsidiary of PLC which is subsidiary of people's bank. The PCL and People bank serve different purposes.

But there is an overlap between SMLL and PLC.

SMLL: People's Leasing Finance PLC WAS formerly Seylan Merchant Leasing PLC .The Company is engaged in the provision of finance leases, hire-purchase assets financing, granting of loans, mobilization of deposits and Islamic financing, which comprise of Ijarah, Murabah, Bai Bithama Ajil (BBA) and Mudharabah

Not sure at one point they will merge SMLL with PLC or they will run separately as now.

You can look up
PLC
http://www.plc.lk/inpages/peoples_leasing_finance/peoples_leasing_finance_about_us.php

People bank here
http://www.peoplesbank.lk/about

Last edited by slstock on Sun Apr 08, 2012 10:41 am; edited 1 time in total (Reason for editing : QUestion was on SMLL I believe)

greedy

greedy

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ccsentha wrote:What is the difference between people's finance and people's bank?

Why is there a need for people's finance when people bank itself can do that job?

what tasks does people's finance do which people's bank cannot do

It is like a same question I had myself about LFIN & VFIN?

By the way People's Finance is a Subsidiary of PLC & Indirect subsidiary of People's bank.

nkuda

nkuda

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People's Bank is a Bank, People's Leasing PLC is a Leasing company which is subsidiary of People's bank, People's Finance PLC (SMLL) is a Finance company which is subsidiary of People's leasing PLC.

Both PLC and SMLL provides leasing facilities, But only SMLL has rights to accept Fixed Deposits from public's because it is a Finance company.

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What is the difference between people's finance and people's bank?

1 What is the difference between people's finance and people's bank? Sun Apr 08, 2012 9:03 am

ccsentha

2 Re: What is the difference between people's finance and people's bank? Sun Apr 08, 2012 9:11 am

Slstock

3 Re: What is the difference between people's finance and people's bank? Sun Apr 08, 2012 10:32 am

greedy

4 Re: What is the difference between people's finance and people's bank? Sun Apr 08, 2012 1:11 pm

nkuda

5 Re: What is the difference between people's finance and people's bank?

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