Chilaw Finance celebrates 30th anniversary
Chilaw Finance Ltd celebrates 30 anniversary this year which
commenced business in March 1980 with an initial capital of Rs. 100,000.
It has grown rapidly and today the company holds total shareholders
funds amounting to Rs. 292 million.
Chilaw Finance Ltd has been serving the Wayamba Province for over
quarter of a century in terms of good returns to its depositors and
reasonable lending rates to its customers and stable job opportunities
to the Wayamba based workforce.
The company's customer base includes small and medium entrepreneurs,
fixed earners, low and middle class segments with in the province that
the traditional banking and financial sectors usually marginalize as non
- credit worthy or below cost effective outreach threshold.
Chilaw Finance Ltd, was very much involved in the social and economic
development of the Wayamba province before policy-makers and big
financial players realized and took action to enter the company's
strategic route of catering to these segments.
The recent collapse of domestic illegal deposit taking institutions
adversely affected public confidence of financial institutions. However,
Chilaw Finance Ltd has maintained a high level of deposit renewal rate
due to the reputation and goodwill of the company maintained over the
past quarter century.