HNB and Lanka Ashok Leyland to support SME sector and provide self-employment through offering exclusive leasing for DOST trucks

Sri Lanka’s premier private sector bank, HNB PLC, renewed its partnership with the nation’s leading Heavy Commercial Vehicle supplier, Lanka Ashok Leyland PLC (LAL), to provide customers a range of exclusive benefits and special interest rates for Lanka Ashok Leyland commercial vehicles.

This partnership will also offer special leasing packages and additional benefits to customers purchasing DOST Trucks.

“We are thrilled to announce the renewal of our long-standing partnership with Lanka Ashok Leyland. Given that the last two years have been challenging it is crucial that we revive small businesses across the island that have become the backbone of the economy. As such, we worked towards reviving our partnership with one of Sri Lanka’s leading commercial vehicle supplier. We hope our customers will make use of this exclusive opportunity to invest in vehicles that help them expand their businesses,” HNB Assistant General Manager – Personal Financial Services, Kanchana Karunagama said.

The bank will offer customers competitive interest rates for three, four- and five-year lease periods, in addition to an exclusive interest rate for facilities with a 25% residual rate for up to five years. Customers also have access to attractive discounts for vehicle insurance premiums from HNB General Insurance together with a free accidental life insurance cover worth Rs. 4.5 million and a natural death cover of Rs. 600,000.

As a further bonus, customers who purchase Lanka Ashok Leyland vehicles will receive a value-added “Prestige Prime” credit card, offering access to special discounts on automobile products, servicing, spare parts, tyres, batteries. HNB will waive off the first-year annual fee.

Umesh Gauta, CEO of Lanka Ashok Leyland, added that “The impact of COVID 19, coupled with the ongoing economic crisis, have significantly affected the transport industry. Unavoidably, several people in the sector have incurred varying levels of financial losses – we hope to be an example for the corporate sector in stepping forward and doing the utmost for our customers and the public at this difficult juncture.

To this effect, we are thrilled to announce the renewal of our partnership with one of Sri Lanka’s most esteemed banks, which reaffirms our unwavering commitment to our shared customer base. We believe that our latest initiative in particular, offering DOST trucks at a special price with flexible payment/leasing options, will bring significant benefits to our customers. Through this program, we aim to create self-employment opportunities for aspiring youths, and support the revival of transport operations in the SME sector as well.”

Lanka Ashok Leyland will offer exclusive benefits for their range of ‘Dost’ trucks include free vehicle registration, 18-month warranty period, and 03 free after-sales services (including labour and materials).

M/s Lanka Ashok Leyland (LAL) is a joint venture company of Ashok Leyland Limited, India, and the Government of Sri Lanka. It was established in the year 1982 to progressively assemble Ashok Leyland trucks and buses in Sri Lanka, providing more local value additions while utilizing the local work force. LAL boasts a State of Art assembly plant at Panagoda, Homagama, spare parts warehouses at several locations in Colombo, and an island-wide dealership network. LAL facilitates the movement of millions of people and tons of cargo across Sri Lanka every day, and is committed to providing transport solutions that offer the best operating economics, comfort and safety; all of which has made LAL trucks and buses the number one choice in Sri Lanka.

With 256 customer centres and 800+ Self Service machines (SSMs) nation-wide, HNB is one of Sri Lanka’s largest, most technologically innovative private banks. Consolidating its legacy in sustainability, good governance and corporate excellence, HNB was crowned the Best Corporate Citizen for 2022 at the Ceylon Chamber of Commerce Best Corporate Citizen Awards. The bank further secured four additional accolades, including being ranked among the Top 10 Best Corporate Citizens and taking home the Governance category and Sustainability Champion for the Finance sector titles.

Additionally, HNB was ranked among the World’s Top 1,000 Banks list compiled by the prestigious UK-based Banker Magazine for the sixth consecutive year in 2022, in addition to being crowned the Best Retail Bank in Sri Lanka for the 13th occasion at the prestigious International Excellence in Retail Financial Services Awards 2023 hosted by the Asian Banker Magazine.