Special Leases for Mahindra Tractors | SDB bank Sri Lanka

SDB bank, one of Sri Lanka’s leading financial services providers with strong roots in the rural sector, has entered into a partnership with DIMO, to offer special leasing facilities for Mahindra Tractors. The special leasing facilities are tailored towards the agricultural sector and smallholder farmers. The official singing of the MOU signifying the partnership between these two leaders in their respective business sectors took place on the 23rd September 2019 at the DIMO Head office. Thilak Piyadigama, CEO of SDB bank signed on behalf of the Bank, whilst A. G. Pandithage, CEO of DIMO signed on behalf the Company.

The special leasing facilities will be available for both ranges of tractors including the 2x4 and the 4x4. Customers are also entitled for numerous benefits exclusively from SDB bank in partnership with DIMO; including leasing facilities of up to 85% of the value of the tractor, which are normally unavailable in the market, and the flexibility to make payments either monthly or seasonally; which is very important for rural farmers. Facilities are available for up to 5 years or for up to 10 seasonal payments. Other benefits included are; issuance of free of charge two front tires, flexible leasing solutions that can be tailored to individual requirements, minimum documentation and quick approvals, attractive discounts for early settlement with no extra charges and no hidden charges or fees whatsoever.

Discussing the partnership, Ranjeev Beadle – Head of Leasing at SDB bank said, ‘Being deeply rooted in the rural community, we personally understand the needs of our customers. Proactively provide solutions to them while working as business partners. This is attested by the fact that, unlike other conventional leasing companies, we levy no extra charges or fees for early settlement, simply because we believe in ethical business. That is why we worked towards this landmark partnership to provide the benefits to our customers. DIMO is a market leader in Sri Lanka, representing many reputed international brands and we at SDB bank are proud to enter into this partnership with them. As two leaders in our individual market sectors, there are many synergies that will arise out of this partnership, which will benefit our customers and as well as both organizations. Through this partnership, we look forward to help Sri Lanka’s agricultural farmers maximise their potential as they feed the entire nation.

SDB bank is a licensed specialized Bank regulated by the Central Bank of Sri Lanka & listed on the Main Board of Colombo Stock Exchange with a Fitch rating of BB+ (Stable), which offers a wide range of financial services for a cliental of all walks of life. The Bank’s main focus is to provide ground breaking financial solutions to the SME & Cooperative sectors. The Bank prides of its 94 branch network & over 5,000 ATM points which makes SDB that much closer to the end consumer. The Bank is now geared to take the FINTECH storm with its latest acquisition of the multifaceted UPAY platform.

SDB bank and DIMO officials at the official MOU signing