SIYAPATHA FINANCE
Q: Could you outline Siyapatha Finance’s operations?
A: A wholly owned subsidiary of Sampath Bank, the company was established in 2005 as Sampath Leasing & Factoring. In 2013, it was reformed as Siyapatha Finance and listed on the Colombo Stock Exchange (CSE) the following year.
This year is notable for Siyapatha as Fitch Ratings upgraded its credit rating to ‘A’ with a ‘stable’ outlook – largely due to its promising finance operations and parent company’s strength.
The company is also celebrating 15 years of operations, having built a network of 38 branches and workforce exceeding 750 employees through which it aims to serve various customer segments with a focus on developing the rural sector.
We provide a range of leasing solutions for big and small ticket items – including vehicles such as cars, trucks, three-wheelers, tractors and combined harvesters – as well as gold loans and factoring solutions for the business community.
Recent additions to our offering include deposit facilities and savings accounts. Siyapatha Finance also launched dual purpose ATM and debit cards as one of the first financial institutions to issue JCB branded cards in Sri Lanka.
Q: How has Sampath Bank supported Siyapatha Finance’s growth?
A: Positioned as Sri Lanka’s fifth largest commercial bank, Sampath Bank’s reputation has helped build trust and confidence, which has gone a long way in supporting Siyapatha’s growth.
As a result, customers are confident using facilities such as fixed deposits and savings accounts.
Q: And what are the company’s strengths?
A: Siyapatha Finance’s growth can be attributed to its trained staff, and the support and guidance of its corporate management team and board of directors.
We prioritise staff development so in-house training is provided to upgrade their skills and knowledge. Moreover, we recruit people to acquire new skills and knowledge that will contribute to growth.
The company also uses IT to improve efficiency with handheld computers being distributed to marketing staff to enhance service regardless of client locations.
With 12 years of leasing sector experience as well as my understanding of customers’ needs – and since they are largely from rural areas – we introduced new solutions to address their unique requirements.
Q: How does the company aim to add value to customers?
A: Siyapatha looks to serve the rural sector and has opened branches to cater to these communities. We also recruit staff from these areas to gain a better understanding of their needs and develop products accordingly.
We focus on speedy service and maintaining relationships following the completion of transactions. This continuous dialogue enables us to cater to customers’ evolving needs.
Simultaneously, we aim to serve those considered unbankable or unserved and enhance their livelihoods. Such relationships promote financial inclusion by expanding the bankable population while contributing to business growth.
Q: What are Siyapatha Finance’s plans going forward?
A: To celebrate the company’s 15th anniversary, we have lined up several programmes including promotions and CSR projects. The social initiatives will largely focus on rural areas to improve living standards.
We are also looking to expand our network this year to help Siyapatha Finance penetrate the rural sector while contributing to Sri Lanka’s economic development.
