Navigating Success Through Partnerships: People’s Leasing & Finance’s 11th Integrated Report Released

People’s Leasing & Finance PLC recently announced the release of its 11th Integrated Annual Report for the financial year 2023/24, showcasing its exceptional achievements and its unwavering commitment to transparency, accountability, governance, and sustainability. The report, crafted under the theme of “Great Partnerships”, highlights how the company’s collaborations have propelled it to new heights, reinforcing its position as a leader in both non-banking financial services and integrated reporting in Sri Lanka. 

Acting Chief Executive Officer of People’s Leasing & Finance Mr. Udesh Gunawardena commented, “Our journey is marked by the great partnerships we’ve built with our stakeholders, who trust us to achieve excellence whilst supporting Sri Lankans to realize their aspirations. Our 11th Integrated Annual Report reflects this ethos, and highlights our dedication to transparency, accountability, sustainability, and corporate governance. We believe this report will go beyond the data, creating value for our diverse stakeholders, including employees, customers, suppliers, business partners, regulators, communities, and potential future long-term investors, helping to support our wider strategic objectives.”

Accordingly, the report conforms with several standards and frameworks, including the International IR framework, GRI Reporting Standards on Sustainability, SASB Consumer Finance Standards, the Sustainable Development Goals, the Task Force on Climate-Related Financial Disclosures (TCFD), Sri Lanka Accounting and Auditing Standards issued by CA Sri Lanka, and the Guidelines of Transparency International Sri Lanka.

In a creative and engaging narrative, and a nod to “Great Partnerships”, the report draws parallels between the company’s performance and its brand ambassadors, the captain of the national team in Test, Dhananjaya de Silva and a cricketing star Kamindu Mendis, whose partnership is legendary. It also uses the metaphor of how a classic car is the sum of its parts, and thus how dissecting the individual parts of the business – just like with a car – can help to understand its true value as a single entity. Through these ideas, the report conveys how the company is effectively leveraging partnerships and its various business operations to deliver unmatched value. This innovative approach not only brings the underlying data to life but also underscores the strength and value of such strategic partnerships. 

The 2023/24 report comprehensively covers all areas of the company’s business and sustainability initiatives. Accordingly, it provides a detailed overview of People’s Leasing & Finance’s core business activities, including lending, deposit mobilisation, and Islamic finance, together with the financial performance of the company and its various subsidiaries in Sri Lanka and Bangladesh. The meticulous, easily-comprehensible, and transparent presentation of the report ensures that stakeholders have access to both a summarised holistic view and in-depth analyses of the company’s operations and strategic initiatives.

Chairman Mr. Pradeep Amirthanayagam added, “Having completed a truly transformative year in 2023/24, with the Sri Lankan economy changing gears from one in crisis to one in recovery, it is our pleasure to present our 11th integrated annual report. This year, we have used what we have achieved and learned in terms of integrated reporting, over a decade, to truly set a new benchmark for integrated reporting. We are also integrating environmental and stakeholder considerations, and sustainability initiatives into the integrated reporting framework for increased transparency, and to provide stakeholders with truly holistic picture. Meanwhile, we're showcasing the Company's IR information flow, designed to streamline data gathering by capturing every vital piece of information, providing a holistic viewpoint.

The report’s innovative presentation style, featuring detailed infographics and a cohesive narrative, provides stakeholders with clear insights into the company’s strategic direction and performance. By integrating financial and non-financial data seamlessly, the report not only highlights the interconnectedness of various business activities but also supports informed decision-making, reinforcing People’s Leasing & Finance’s dedication to excellence in every sphere.

With its 11th Integrated Annual Report, People’s Leasing & Finance PLC continues to set a benchmark for industry standards in integrated reporting, reflecting its dedication to creating and preserving value for its stakeholders. 

Omal Sumanasiri - Deputy General Manager Finance at People's Leasing & Finance PLC, Udesh Gunawardena - Acting Chief Executive Officer at People's Leasing & Finance PLC, Pradeep Amirthanayagam - Chairman of People's Leasing & Finance PLC, presenting the annual report to Sujeewa Rajapakse - Chairman of People's Bank, and Clive Fonseka - Chief Executive Officer of People's Bank.