Our History

2021
2021

Fitch Ratings Lanka Ltd. upgraded the Company’s rating to AA- (lka).
2020
2020

Fitch Ratings Lanka Ltd. upgraded the Company’s rating to AA- (lka).
2019
2019

Fitch Ratings Lanka Ltd. assigned A+(lka) to Serendib Finance Ltd. for the first time.

The e-financial leasing system which was the core operating module was replaced by the International Comprehensive Banking System (ICBS) of Fiserv Inc, the core banking system used by Commercial Bank in  September 2019.
2015
2015

Consequent to the acquisition by Commercial Bank, the Company was renamed as “Serendib Finance Ltd.” on 28th May 2015.

The Company launched its first website in June 2015.

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2014
2014

Commercial Bank acquired full ownership of Indra Finance Ltd. on 1st September 2014.

Mr. Dharma Dheerasinghe, the then Chairman of Commercial Bank of Ceylon PLC, was appointed as the Chairman for Indra Finance Ltd.
2013
2013

Indra Finance Ltd. obtained registration as a finance company on 08th May 2013 from the Central Bank of Sri Lanka in terms of the Finance Business Act No. 42 of 2011.

The in-house developed core leasing system was replaced with an outsourced software module named “e-financial” system.

The Company moved to its own Head Office premises at No. 187, Katugastota Road, Kandy.
2010
2010

The first branch of Indra Finance Ltd. was opened at Hingurakgoda on 16th September 2010.

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2008
2008

The in-house IT team developed a system and rolled out to fully automate the entire lease financing process.
2007
2007

The Company obtained registration as a specialized leasing company on 6th August 2007, in terms section 2 of the Finance Leasing Act No. 56 of 2000.

Consequent to the enactment of the new Companies Act No. 7 of 2007, Indra Finance Ltd. was re - registered under registration number PB276.

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2002
2002

Indra Finance Ltd. obtained the certificate of incorporation under registration number N(PVS/PBS)3261.
1987
1987

Indra Finance Ltd. opened for business as a fully owned subsidiary of Indra Traders (Pvt.) Ltd. to cater to the growing market for financing of vehicles.