The Commercial Bank of Ceylon has announced its support for accelerating the transition in Sri Lanka to new energy vehicles by launching a collaboration with Evolution Auto, a specialist in multi-brand electric mobility solutions.
The Bank has undertaken to offer attractive special leasing options and benefits to Evolution Auto customers till the end of 2025 covering the full range of electric vehicles sold by the latter, and Evolution Auto has confirmed it will offer discounts of up to Rs 1.5 million on the vehicles leased via Commercial Bank under this strategic partnership.
The special offers flowing from the promotion cover the full electric passenger and commercial vehicles range offered by Evolution Auto (Pvt) Limited, including KYC V7, KYC V5, Riddara AIR, Riddara Pro, Radar Horizon Pro, Riddara Horizon Pro with Sunroof and AVATR 11.
Besides attractive lease rentals made possible by lower rates of interest, customised payment plans and expedited processing of applications, Commercial Bank has agreed to consider all leases granted under this promotion as Green Leases, making them eligible for the benefits offered in that category.
Commercial Bank offers one of the lowest rentals on vehicle leases, Rs 1,598.00 for every Rs 100,000 for a seven-year lease under the Bank’s Super Leasing facility.
Commercial Bank leasing customers have the option of tailor-made leasing facilities that suit individual income patterns, via the Bank’s Super Leasing and Hybrid Leasing facilities.
The Bank’s Super Leasing facility enables customers to purchase personal use vehicles at lower rentals with a residual as the last rental, while offering flexible repayment facilities and lower early settlement fees. The Hybrid Leasing facility also provides customers an opportunity to purchase high-end personal use vehicles at lower rentals, by paying interest only for the first year, a standard rental for the rest of the lease period and the residual as the last rental.
A pioneering joint venture between Atman Group and Sino Lanka Private Limited, Evolution Auto’s mission to introduce advanced electric mobility solutions seeks to transform the way Sri Lankans commute, promoting environmental sustainability and economic growth. Incorporated with a vision of improving sustainable mobility, Evolution Auto has partnered with some of the world’s most renowned electric automobile brands including Mahindra Treo, Ather Electric Scooters, and Revolt Electric Bikes.
Commercial Bank is the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and has the highest market capitalization in the Banking Sector in the Colombo Stock Exchange (CSE). The Bank is the largest lender to Sri Lanka’s SME sector, is a leader in digital innovation and is Sri Lanka’s first 100% carbon neutral bank. Commercial Bank operates a strategically located network of branches and automated machines island-wide, and has the widest international footprint among Sri Lankan banks, with 20 outlets in Bangladesh, a Microfinance company in Myanmar, and a fully-fledged Tier I Bank with a majority stake in the Maldives. The Bank’s fully owned subsidiary CBC Finance Ltd. also delivers a wide range of financial services via its own branch network.
Photo caption:
Commercial Bank Assistant General Manager Personal Banking & Retail Products Development Mr Kapila Liyanage exchanges the MoU with Evolution Auto Group CEO Mr Virann De Zoysa in the presence of representatives of the two companies.
