Mercantile Investments succeeds by valuing
customers as ‘kings’
Mercantile Investments Ltd., (MI) which had a humble
beginnings, is today a prominent financial institution,
which is registered under the Central Bank of Sri Lanka.
MI has also become synonymous with its pledge of ‘Security
through Investment’.
The brainchild of Deshabandu George Ondaatjie, the company
was launched in June 1964 with an initial startup capital
of Rs.50,000. Since then, it has grown to be one of
the largest finance companies in Sri Lanka, accounting
for approximately 6% of the industry’s assets in
a sector as at the end of March 2008. Today, the company
holds a total capital and reserves amounting to Rs.2.7
billion. This ever-increasing reserve base strengthens
its financial stability year after year.
Mercantile Investments Ltd. offers a range of financial
solutions such as Leasing, hire purchase, short term
loans, vehicle loans, operating leases, insurance, fixed
deposits and savings. Further MI has four branches in
Negombo, Kadawatha, Kohuwala and Balangoda. This enterprising
company also intends to open two more branches in the
near future. Furthermore MI has built its franchise
throughout its 45 year history primarily as an importer
and a trader in motor vehicles as well.
According to the latest Ram ratings MI has been rated
as ‘A’ and P1; concurrently. Meanwhile, as
at end-FY March 2008 the company’s core capital
base (shareholders’ funds excluding revaluation
reserves) stood at an impressive LKR 1.55 billion, translating
into a strong Tier-1 risk weighted capital adequacy
ratio (“RWCAR”) of 20.06%. At the same time
its liquid assets remained at adequate levels and above
the statutory minimum of 15% throughout the fiscal year.
The success of MI rests mainly on the service the company
provides to its customers. Customers are highly valued
and treated as ‘kings’. The company’s
strong belief in exceeding customer expectations means
that an open door policy is exercised within the company.
Accordingly a customer can simply even walk in to the
Managing Director’s office without a prior appointment,
to discuss any business matter.
The company is also cautious where it invests in, as
it does not wish to encourage money laundering and other
illegal activities. Therefore the safety of its customers’
investments is best assured when they invest with MI.
Furthermore, the company is taking all necessary measures
to continuously improve and increase their services
to customers in the future as well.
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