Consequent to the change of ownership from Melstacorp PLC to Bluestone1 Limited, Melsta Regal Finance Limited unveiled its new brand identity as ‘Fintrex Finance Limited’ at Cinnamon Grand on Wednesday.
Chief Executive Officer, ‘Fintrex Finance Limited’ Tamara Dharmakirti-Herath said that they will increase their current portfolio from Rs. 2 billion to 10 billion by March 2019. “Our aim is to further increase this to Rs. 25 billion by 2021.”
She also mentioned that the change of ownership from a trusted Sri Lankan conglomerate to another trusted multinational gives Fintrex the continued strength to forge ahead and pursue its corporate goals.
The Bluestone acquisition was backed by a consortium of world class investors including global insurance giant Fairfax Holdings who now hold 70% along with MAS and Hirdaramani Group who together hold 24%. The investors are represented on the Board by Ajit Gunewardene Chairman, Ronnie Peiris, and Shantanu Nagpal.
Chairman Ajit Gunwardene said that the name Fintrex Finance is coined from the words ‘financial entrepreneurs’ and ‘experts’. It speaks to the powerful combination that sets the company apart from the rest. The new brand identity reflects the team’s potential to maximize efforts and unlock value for customers. It signals a clear bias for action, speed and agility.
He further stated that the emerging entrepreneurs and small enterprises in Sri Lanka requires support as they are still under financed and as such there is a lot of potential in this space. Therefore, Fintrex Finance will focus on filling this gap by offering financial products to this segment: not only by providing asset products such as trade finance, leasing and loans but also by cultivating their savings habit.
The future road map for Fintrex Finance is to embrace technology to improve efficiencies and cater to the emerging business transaction trends and expectations of modern clients. Through digitalization, Fintrex Finance also aims to minimize its impact on depleting natural resources and ensure that the operation is environmentally sustainable.” (SS)
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