Adding to its expanding network of islandwide branches, Mahindra Ideal Finance recently opened a new branch in Chilaw. Located at 22, Shirley Corea Mawatha, Chilaw, the new branch provides customers with a modern and well-designed space, the company stated.
Customers in the region can now conveniently and comfortably access Mahindra Ideal Finance’s extensive portfolio of financial products and services, which include fixed deposits, gold loans, and leasing, the company said, adding that the new branch was declared officially open amidst a special opening ceremony held in the presence of customers, staff, special guests, and senior officials representing Mahindra Ideal Finance’s senior management team.
Discussing the new branch and the company’s network expansion strategy, Mahindra Ideal Finance CEO Duminda Weerasekara said: “Furthering our network expansion, we are now focusing on the regional economic centres around the island. Chilaw has a coloured history and plenty of natural beauty, including a glorious stretch of coastline, making it a favourite amongst tourists. The area is also known for its agricultural and industrial activities.
“This makes Chilaw an area of interest for us, as we aim to target an increasingly diverse clientele across Sri Lanka, as it serves as an economic and social centre for tourists and communities in the town and surrounding areas. Therefore, we believe that by establishing a presence in Chilaw, we are adding value to our islandwide presence, while also helping local communities across the Puttalam District create value in their daily lives, and for all Sri Lankans, through productive economic activity.”
Mahindra IDEAL Finance Ltd., Chilaw marks the company’s third physical location within the North Western Province, alongside Kurunegala and Kuliyapitiya, which are also significant commercial centres within the province, the company stated. The new Chilaw branch will also help to create employment opportunities for members of the local community, as Mahindra Ideal Finance Ltd. stated that they have been recognised as an employer of choice for those seeking to build careers in Sri Lanka’s financial services industry, with the company having received the accolade of being a Great Place to Work™ for three years consecutively.
The company’s further said that their rapid network expansion drive comes in the wake of Mahindra and Mahindra Financial Services Ltd., India acquiring a controlling stake in Ideal Finance Ltd.. Subsequent to its acquisition last year by these financial services giants, Ideal Finance Ltd. has rebranded itself as Mahindra Ideal Finance Ltd. Following Mahindra’s investment in Ideal Finance Ltd., the company mentioned that their Fitch ratings has also upgraded Mahindra Ideal Finance Ltd.’s rating to “AA – (lka)” with a stable outlook.
Mahindra Ideal Finance Ltd. is a non-banking financial institution (NBFI) registered with the Central Bank of Sri Lanka (CBSL) and commenced operations in March 2012 with a clear focus on the rural and semi-urban sectors. Its lending portfolio consists of gold loans, personal loans, leasing facilities for motorcars, three-wheelers, agriculture vehicles, and commercial vehicles, while also providing depositors with attractive returns on their investments.
Mahindra Ideal Finance opens doors in Chilaw
16 Sep 2022
Mahindra Ideal Finance opens doors in Chilaw
16 Sep 2022