Leasing Council of Bankers of Sri Lanka gets new office bearers

The 5th AGM of the LCBSL (Leasing Council of Bankers of Sri Lanka) was held recently where Kanchana Karunagama was appointed as the new President taking over from outgoing President Gillian Edwards.

The LCBSL was formed in the year 2015 as a measure to protect and improve the standards of the Leasing Industry within the Banking Sector.

The presence of the LCBSL created immense value for all members and the industry at large during the periods of unprecedented challenges faced in the last few years and created a common platform of engagement for all Banks to contribute towards the economic development of the country.

Sharing his views on the future activities of LCBSL, Incoming president Kanchana Karunagama said “Leasing is a very popular mode of finance specially among the Retail and SME segments and banks offering comparatively lower interest rates than others. The exposure of Banks & contribution to these segments have immensely contributed in expanding many sectors in the economy of the country. The importance of Leasing product needs to be highlighted among all stakeholders whilst maintaining its features more attractive. The product is more of a secured with many benefits including a strong contribution to the bottom line of any Bank, with added advantages such as depreciation etc. We would like to work close with regulatory bodies with a view of further streamlining this product with more attractive benefits to the Lessee’s. Also we have planned to work close with many Government & Private sector organizations in further popularizing the Leasing product. I am confident with my able Team to take this Association forward for the betterment of the Banking sector and current & potential customers”.