Strengthening its commitment to making vehicle ownership more accessible and affordable, Commercial Bank of Ceylon has entered into a strategic partnership with Carmart (Pvt) Ltd. to offer specially structured leasing facilities for Peugeot and Leapmotor vehicles.
Formalised through a Memorandum of Understanding (MoU), the collaboration brings together the Bank’s expertise in flexible financing and Carmart’s portfolio of internationally recognised vehicle brands, creating a value-rich proposition for customers seeking to purchase new vehicles.
Under this MoU, valid until 30th June 2027, Commercial Bank will offer attractive interest rates, concessions on documentation charges, and a complimentary credit card with the first year’s annual fee waived. These benefits are designed to reduce upfront costs and ease the financial commitment associated with vehicle ownership.
With leasing facilities available through Commercial Bank’s island-wide branch network, a cross-section of customers will be able to part-finance their vehicle purchases while structuring repayments to align with their income patterns, enabling greater financial flexibility.
Further enhancing the value proposition, Carmart (Pvt) Ltd. will offer customers a range of added benefits, including a complimentary full tank of fuel, free vehicle registration, and other exclusive privileges, making the overall vehicle ownership experience more rewarding.
The Bank said the partnership reflects its continued focus on delivering practical and customer-centric leasing solutions in collaboration with reputed vendors. By combining competitive rates with cost-saving concessions, the Bank aims to make vehicle ownership more attainable for both existing and new customers.
This collaboration is particularly significant in the current market context, as it offers customers the opportunity to benefit from preferential leasing terms while managing repayments in a way that suits their financial circumstances.
As a pioneer in leasing solutions, Commercial Bank continues to innovate through strategic alliances that enhance value, broaden choice, and support customers in achieving their lifestyle aspirations.
The first Sri Lankan bank with a market capitalisation exceeding US$ 1 Bn., and the first bank in the country to be listed among the Top 1000 Banks of the World, Commercial Bank has the highest capital base among all Sri Lankan banks, is the largest private sector lender in Sri Lanka, and the largest lender to the country’s SME sector. Ranked No. 1 in the Business Today Top 40, the Bank is recognised as the most respected and most-awarded bank in Sri Lanka, is a leader in digital innovation and is the country’s first 100% carbon-neutral bank.
Commercial Bank operates more than 270 strategically-located branches and an extensive network of automated machines island-wide, and has the widest international footprint among Sri Lankan banks, with 21 branches in Bangladesh, a fully-fledged Tier I Bank with a majority stake in the Maldives, a microfinance company in Myanmar, and a representative office in the Dubai International Financial Centre (DIFC). The Bank’s fully-owned subsidiaries, CBC Finance PLC and Commercial Insurance Brokers (Pvt) Limited, also deliver a range of financial services via their own branch networks.
Photo caption:
Mr Kapila Liyanage, Assistant General Manager – Personal Banking and Retail Products at Commercial Bank and Mr. Senake Amerasinghe, Managing Director of Carmart (Pvt) Ltd, exchange the agreement in the presence of representatives of the two companies.
