People's Bank and People's Leasing join hands to introduce a Co-branded Credit Card

February 14, 2022

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 People’s Leasing & Finance (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 (1961) 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 0% Installment Plan Facility up to 40 months, 0% installment plan for Insurance Payments, 0% Installment plans of up to 36 months at Intermediate Care Centers 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, People's Bank Chairman Sujeewa 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 organizations 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.”

People’s Bank Chief Executive Officer/General Manager Ranjith Kodituwakku commented, “People’s Leasing and People’s Bank being a 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 organizations will undoubtedly benefit immensely from the synergies of such market leaders coming together.

People’s Leasing & Finance Chief Executive Officer/General Manager Shamindra Marcelline stated, “It is a proud occasion for both People’s Leasing & Finance 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.”

Established under the People’s Bank Act No. 29 of 1961, Peoples' Bank has the largest customer base of over 14 million customers in the country and also the largest branch network of 741 physical contact points to serve them. The bank provides its services 24 hours a day, 7 days a week and 365 days a year via its Self-Banking Units amounting over 260 across the island. It has played a pivotal role in taking digital banking benefits to the masses and thereby has positioned itself as the leading digital banking service provider in the country. People’s Bank has been repeatedly lauded for proving its mettle with consistency, authority and sustainable growth, delivering an excellent overall business performance. Over 60 years, People's Bank has evolved from being a provider of financial solutions to the masses to a leader in the digital banking sphere that simplifies cutting edge technology to benefit the entire nation.

People’s Leasing & Finance PLC is a leading Non-Bank Financial Institution in Sri Lanka and a subsidiary of People’s Bank. Commencing operations in 1996 as a specialized leasing company, People's Leasing was listed on the Colombo Stock Exchange in 2011. People's Leasing has grown to become a diversified non-banking financial powerhouse with six subsidiaries in areas including overseas operations in Bangladesh and celebrated its 25th anniversary on 31st May 2021.