A change at the top for Asia Commerce Limited

Leasing experts, Asia Commerce Limited (ACL), a registered leasing company with the Central Bank who have been in the business for the last five years, has appointed senior banker Lakshman Uduwara as the company’s Chief Executive Officer.

Mr. Uduwara was enrolled as a Fellow of the Institute of Bankers Sri Lanka in 1999 and holds a certificate in Advanced Bank Management from the Asian Institute of Management, Philippines. In addition, he holds Diplomas in Bank Management (IBSL) and Business Management (NIBM). He regularly contributes to the development of the banking fraternity by serving as a visiting lecturer at the Institute of Bankers Sri Lanka.

He has extensive experience in the banking and financial services sector in Sri Lanka having held several senior positions in two commercial banks over the past three decades. He possesses considerable experience in both Corporate and Retail credit administration with specialization in both areas. His total credit experience spans over 24 years. He has traveled widely within the country visiting bank branches and their clientele and is well versed in the demographic and geographic distinctions which come into play in credit decisions. This experience also has given him the opportunity to build relations with a wide range of clients he could draw from.

With the appointment of Lakshman Uduwara, ACL is gearing itself for a period of steady growth and expansion of their market share and consolidation whilst delivering on the promise to offer professional advice, speedy response, flexible terms and friendly service. Soon, ACL will open its first branch in Gampaha town, scheduled to take place in September. More branches are on the cards as the management feels that the time is ripe to grow. In line with the growth in branches the Board of Directors of the company will also be reconstituted with several high profile professionals in the local financial and business arena soon to come on board.

Speaking about his appointment Mr. Uduwara said: “I am extremely pleased to have been appointed as the CEO of Asia Commerce Limited. Our immediate priority is to judiciously and progressively grow the lease/hire purchase portfolios and improve other ancillary income sources. This will be complemented by our plans to open few Branches in the Colombo suburbs in the near future to represent us better. We shall also strive to contain the delinquent advances to avoid loan losses. Also, we are determined to offer our valued customers a unique service with total transparency without any strings attached.”

The company believes in training its staff continuously in sound risk mitigation measures, prudent lending policies and efficient customer interface within a robust Corporate Governance framework in order to ensure long term sustainability and growth of business. Good Corporate Governance measures are in place to promote a sound corporate culture conducive for overall growth of the business and development of its Human Resources.

Well geared to offer a truly professional and satisfying service to its valued clientele, ACL is confidently looking forward to making a marked overall growth in the near future.