This planned expansion has already been initiated with the opening of a branch in Anuradhapura in order to increase its regional presence and to fuel the g rowth in its leasing and hire purchase portfolios. SFLL has already obtained approval from the CBSL for the establishment of another service centre in Vavuniya in the current Financial Year and a branch in Jaffna in the next Financial Year in order to capture the growth potential of the Northern Province.
In order to offer a better service and more convenience to its customers, SSL intends to channel the consumer financing activities currently carried out via Singer Mega outlets to SFLL.
This would be initially carried out by selecting a few Singer Mega outlets and further extended to cover all outlets in line with the long term vision of
SSL mentioned above.
The channelling of financing activities of Singer Mega business via SFLL would result in a surge in the lending portfolios of SFLL resulting in an increase in profitability.
