PMF Finance strengthens financial foundation with backing from Commercial Bank
PMF Finance PLC has fortified its financial position through a significant capital boost from the Commercial Bank of Ceylon PLC, Sri Lanka’s largest private commercial bank, with an initial disbursement of Rs. 500 million out of Rs. one billion, this substantial funding is a strong endorsement of PMF Finance’s stability and credibility in the financial services sector, paving the way for enhanced growth and operational capacity.
The capital infusion will primarily support the development of small and medium enterprises (SMEs), a sector PMF Finance is deeply committed to nurturing. By channeling these resources into SME development, PMF Finance aims to contribute to the long-term growth of local businesses, fostering entrepreneurship and sustainable economic progress.
Chairman of PMF Finance PLC, Chandula Abewickrama said, “This substantial financial support from Commercial Bank is a testament to our financial stability and operational resilience. The trust placed in us by the largest private bank in the country speaks volumes about our reliability and the strength of our governance.”
Commercial Bank with over a century of service and support to PMF Finance highlights its confidence in the company’s governance, vision, and growth trajectory. Commercial Bank’s backing signals a strong vote of confidence in PMF Finance’s long-term potential.
“We are excited to use this capital to empower SMEs. By driving sustainable growth in this sector, we are not only enhancing our business but also contributing to the nation’s economic development.”
CEO designated of PMF Finance PLC, Prof. Ajith Medis, added, “The funds we have secured will be instrumental in our efforts to strengthen the SME sector. We plan to strategically deploy this capital to provide innovative financial solutions that support the growth of small and medium businesses across various industries. Our focus on sustainable investment will ensure that these funds contribute to long-term economic development and employment creation, particularly in underserved markets.”
This major financial backing from Commercial Bank further reinforces PMF Finance’s position as a stable and trusted financial institution capable of driving sustainable investments and supporting Sri Lanka’s economic growth.
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