Mahindra IDEAL Finance Limited Expands Footprint with New Branch in Kaduruwela

Mahindra IDEAL Finance Limited, a leading player in Sri Lanka’s non-banking financial services sector, continues its trajectory of fast-paced growth with the unveiling of its latest branch in Kaduruwela. Situated at No. 766/A, Somiyal Junction, Batticaloa Road, Kaduruwela, this new branch marks a significant milestone as MIFL extends its reach to key commercial centres with high-growth potential in the Polonnaruwa district.

The Kaduruwela branch, the 32nd addition to Mahindra IDEAL Finance Limited’s growing network, symbolizes the company’s unwavering commitment to providing accessible financial solutions and fostering growth amongst the diverse communities it serves. As with its other branches, Mahindra IDEAL Finance Limited – Kaduruwela aims to bring financial services closer to the people it serves, supporting the economic vibrancy of the region.

Commenting on this strategic expansion, Duminda Weerasekera, CEO of Mahindra IDEAL Finance Limited said, “Our journey of empowerment and shared prosperity takes another significant step forward with the opening of our Kaduruwela branch. This expansion aligns with our mission to shape brighter financial futures for all Sri Lankans. Kaduruwela, with its commercial significance, and location at a key crossroads, provides us with the opportunity to serve the community and create world-class opportunities for emerging talent in the region.”

Mahindra IDEAL Finance Limited’s focus on rural and semi-urban sectors remains evident in its diverse lending portfolio, encompassing motor vehicles, gold loans and more. As a subsidiary of Mahindra & Mahindra Financial Services Limited, a global financial services giant based in India, Mahindra IDEAL Finance Limited is committed to enhancing financial inclusivity in Sri Lanka.

The opening of its new branch in Kaduruwela aligns seamlessly with Mahindra IDEAL Finance Limited ambitious plans for sustainable growth, envisioning a robust network of branches across key urban and commercial centres across the island. This strategic move builds on the company’s notable achievements, including recognition as a Great Place to Work for four consecutive years and distinguished acclaim within the banking, finance, and insurance sector.

About Mahindra IDEAL Finance Limited

Mahindra IDEAL Finance holds an “AA-(lka) Outlook Stable” rating from Fitch Ratings Lanka, while also having achieved the title of “Great Place to Work” for 4 consecutive years. The Company’s welcoming ,.open culture, dynamism and adaptability to quickly changing market conditions, also earned it the title of “Great Place to Work for Millennials” in 2022. Mahindra IDEAL Finance Limited (MIFL) is a Non-Banking Financial Institution (NBFI) registered with Central Bank of Sri Lanka and places emphasis on rural and semi-urban markets. Its lending portfolio consists of gold loans, SME loans, Speed drafts  leasing facilities for motorcars, three-wheelers, agriculture vehicles and commercial vehicles. The Company maintains a high-quality lending portfolio, while consistently recording sustainable annual growth.