Sinhaputhra exceeds Rs. 5 billion deposits
View(s):Sinhaputhra Finance PLC’s has achieved a deposit base of more than Rs 5 billion with certain customer patronage exceeding three decades, indicating trust and confidence; and this was achieved without any expenditure on advertising, the company said this week.
Director Operations Sarliya De Alwis said that this growth has been based on personal relationships and ‘word-of-mouth’ influences. “The company’s resilience has been demonstrated by its stability during economic downturns when larger establishments with hasty growth crumbled, leaving distressed depositors. With nearly 6,000 depositors and 7,521 savings account holders, Sinhaputhra Finance PLC has established itself as a safe haven for depositors,” it said.
Managing Director Ravana Wijeyeratne stated that even though bank loans are now offered at extremely low rates at 200 basis points below average rates paid to depositors, their commitment to depositors and their lowering monthly revenues compels the Sinhaputhra team to offer the best rates they can.