Business
HNB-Indra Traders offer exclusive leasing solutions for unregistered vehicles, freezers and pre-owned vehicles
Sri Lanka’s leading private sector bank, HNB PLC, partnered with local automotive giant Indra Traders to provide customers with exclusive leasing solutions for unregistered and pre-owned vehicles and freezers.
Customers can make use of exciting benefits and discounts during the promotional period from January to December 2022. HNB Executive Director Chief Operating Officer Dilshan Rodrigo and Indra Traders Managing Director Rushanka Silva participated in the special ceremony to sign the MoU at HNB Towers.
“Given the import restrictions, the market for unregistered and pre-owned vehicles has grown exponentially. Each year we offer our loyal customers the very best deals in the market. As such, we have renewed our partnership with Indra traders, renowned for its incomparable service, to offer those looking for vehicles with access to exceptional after-sales services and great discounts,” HNB Executive Director and Chief Operating Officer Dilshan Rodrigo said.
HNB will offer the prevailing interest rate for structured leases and lease facilities with a 25% residual value market value under the partnership. Customers also have access to special discounts on automobile products, servicing, spare parts, tyres, and batteries via the Prestige Prime card, with the annual fee waived off the first year.
“We are delighted to partner with HNB once again to offer our mutual customer base exciting leasing solutions and great benefits. Our continued partnership with the Bank has proven to be very beneficial to our customers, and we hope they will make use of this opportunity once again to invest in their own set of wheels,” Indra Traders Managing Director Rushanka Silva said.
Indra Traders will provide customers looking to purchase unregistered cars, vans and freezers with free insurance from SLIC for the first year. HNB customers are also eligible for discounts of up to 10% for spare parts from Indra Motor Spares and labour charges from Indra Service Park for the first year.
Customers investing in a new or unregistered passenger vehicles are eligible to have their vehicles outfitted with a free entertainment system and reverse camera. Indra Traders will also offer customers a two-year warranty for engines and gearboxes and a three-year warranty for hybrid batteries.
Notably, the company will provide free labour for services up to one year and a maximum of six services for pre-owned vehicles. A six-month warranty will also be offered for the engines and gearboxes of these vehicles.
Established in 1975, Indra Traders has diversified to various business segments in the automobile industry. A supplier of high-quality motor vehicles and related vehicles, Indra Traders today stands as not only a supplier of high-quality vehicles but also a transport solutions provider.
With 254 customer centres across the country, HNB is one of Sri Lanka’s largest, most technologically-innovative banks, having won local and global recognition for its efforts to drive forward a new paradigm in digital banking. HNB has a national rating of AA- (lka) by Fitch Ratings (Lanka) Ltd. The Bank was also ranked among the World Top 1,000 Banks list compiled by the prestigious UK-based Banker Magazine for five consecutive years. HNB was also declared Best Sub-Custodian Bank in Sri Lanka at the Global Finance Awards 2020.
The total outstanding market liquidity surplus or excess funds available in Sri Lanka’s banking system for lending and transactions declined by Rs. 36.65 billion in a week, according to the Central Bank’s latest economic indicators report.
An economic researcher analysing the data noted: “Treasury bill and bond auctions likely drained liquidity. If this tightening persists, short-term interest rates could rise, raising borrowing costs and potentially slowing economic growth. The situation warrants close monitoring, especially as the manufacturing sector is already facing a slowdown whether due to seasonal or structural factors.”
The report also highlighted the following developments in Sri Lanka’s economy:
Fiscal improvements: The deficit has narrowed but remains elevated.
Sectoral trends: The stock market rallied, and the services sector showed slower expansion (tourism, retail and IT driving resilience).
Total expenditure and net lending increased to Rs. 1,301.9 bn during the three months ending March 2025 compared to Rs. 1,197.5 bn in the corresponding period of 2024.
During the three months ending March 2025, the overall budget deficit decreased to Rs. 234.5 bn compared to Rs. 281.3 bn recorded in the corresponding period of 2024
The rupee value of T-Bills and T-Bonds held by foreign investors decreased by 2 per cent in comparison to the previous week.
“The April 2025 industrial slowdown points to weaker output, likely due to seasonal factors such as holidays or subdued demand. However, this was partially offset by an expansion in the Services PMI, offering some relief. The broader economic outlook for Sri Lanka remains uncertain, as these mixed signals unfold as Sri Lanka would receive a tariff letter from the US in the coming weeks. With market liquidity already tightening due to government borrowings from the banking system, policymakers face mounting challenges in balancing growth and stability,” the economic researcher noted.
By Sanath Nanayakkare
AIA Sri Lanka’s ‘Pawfect Match’ campaign, in partnership with animal welfare groups, inspired 500+ adoptions of stray pets. The initiative highlighted adoption, responsible ownership, and compassion, tackling Sri Lanka’s stray animal crisis. AIA thanks all supporters for their life-changing impact.
The campaign served as a reminder that even small acts of kindness like adopting a stray can make a big impact. It also provided an opportunity for the public to learn more about responsible pet ownership, animal rights, and the importance of compassion toward all creatures.
Calton Sweet House Pvt. Ltd., a key part of Calton Group, was honored as the Best National Industry Brand in the Medium-Scale Food and Beverage Sector at the National Industry Brand Excellence Awards 2024, organized by the Industrial Development Board. Deshamanya Mahesh De Silva, Director of Finance and IT at Calton Group, accepted the award.
Established in 1991, Calton Sweet House has over 30 years of excellence, specializing in cakes, snacks, and frozen bakery items, with 20+ outlets across Negombo, Katunayake, and Colombo, including at Bandaranaike International Airport. The company holds ISO, HACCP, and GMP certifications, ensuring top-quality standards.
Starting as a small store in 1983, Calton Group now employs 300+ staff and operates multiple businesses, including Calton Hyper Market and Calton Catering, while partnering with global brands like Unilever and Upfield. The group remains committed to serving customers with high-quality, safely packaged food products.
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