Banking
Orient Finance PLC expands with a range of value added and innovative products
View(s):Orient Finance PLC (OFP) has been in operation for over a decade in the leasing and hire purchase industry of Sri Lanka with an excellent track record of being a pioneer in providing a quality service to a large number of customers.
With the growth of this trusted company, more and more customers have rallied around OFP for their financial requirements. A range of value added and innovative products have been introduced by Orient Finance, on Leasing, Hire Purchase, Debt Factoring, Fixed Deposits and Gold loans.
Backed by financial stability and the presence of 10 years in the industry, Fixed Deposits offered by Orient Finance has caught the attention of depositors with their competitive interest rates and personalized service.
Funds mobilised through Fixed Deposits are in turn disbursed for their other products which include leasing, hire purchase, factoring, and gold loans. The dynamic corporate strategy and the steady growth witnessed by Orient Finance have paved way for the company to be recognised as a emerging entity in the finance industry.
Following are the excerpts of an interview held with OPF Asst. General Manager Mrs. Geethika Wickramasinghe about their fixed deposits and future company plans.
Q:How do you differentiate Orient Finance PLC from other companies which offer similar products in the industry?
Geethika – Personalised service is our strength. We strongly believe that competitive interest rates alone would not attract depositors to us, as all finance companies do offer similar rates subject to the ceiling rate stipulated by the Central Bank. We at Orient Finance consider customer service as the factor that brings in new business while retaining existing customers. From the point of accepting the deposit and sending the returns to their doorstep, we are renowned as a company that provides personalised service.
Customised schemes are also another special feature of Orient FDs. The deposits are accepted for a minimum period of a month, but we offer separate schemes to meet individual requirements to match life styles of different people, such as Senior Citizens, Corporate Executives and clients with deposits over a stipulated amount.
Apart from the standard products we also offer special seasonal schemes that cater to needs associated with different festivals, landmark events, etc, for instance the New Year promotion we launched offered up front interest in an attempt to assist our customers with New Year expenses.
Q:How would you assess compliance mechanism at Orient Leasing?
Geethika – We strictly adhere to the circulars and the guidelines set by the CBSL as a relatively young establishment in accepting fixed deposits. Our investment grade rating is also an added assurance of our stability and strict compliance has aided us in gaining customer confidence.
Q:What are your future plans?
Geethika – We are in the process of expanding the sales force and the branch network. These expansions will enable us to further tap into the deposit base of the country. Our branch network already covers the main commercial cities of the country which as a number is 12. In addition there are 5 strategically located window offices which offer leasing services. I believe our branch network adequately covers the island including the now developing Nothern and Eastern provinces.
The growing branch network, expanding sales force, innovative product range and the awareness campaign we have embarked on will undoubtedly assist us to secure the confidence of our potential customers as a Finance company that caters to customer needs.
Orient Finance PLC (OFP) is a company licensed by the Monetary Board of the Central Bank of Sri Lanka under the Business Finance Act no: 42 of 2011 and is listed on the Colombo Stock Exchange. It has rating of BBB- from ICRA Lanka
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