Mahindra Ideal Finance PLC (MIFL) inaugurated its 38th branch in Kohuwela at a ceremony attended by His Excellency Santosh Jha, High Commissioner of India to Sri Lanka; Mr. Thilan Wijesinghe, Chairman of Mahindra Ideal Finance PLC; and Mr. Mufaddal Choonia, Managing Director & CEO of Mahindra Ideal Finance PLC.
The Kohuwela branch has been established as a flagship outlet, offering the full range of MIFL’s core financial services including leasing, vehicle loans, draft loans, revolving loans, Business loans and fixed deposits. Its location in a commercially active area of Colombo positions it to serve a broad base of vehicle dealers, importers, individuals and business customers.
MIFL now operates a network of 38 branches across Sri Lanka, with a presence built to bring regulated financial services within reach of customers nationwide.
Addressing the gathering at the inauguration, India’s High Commissioner to Sri Lanka, His Excellency Santosh Jha, emphasized that MIFL’s expansion reflects the strength and continued growth of the investment relationship between India and Sri Lanka.
“The growth of institutions like Mahindra Ideal Finance is a concrete expression of the India-Sri Lanka partnership. It is financial access being built into communities across Sri Lanka, and that is something both countries can take pride in.”
MIFL Managing Director & CEO, Mufaddal Choonia said:
“The opening of our Kohuwela branch is part of a deliberate direction MIFL is taking as a business. We want to be present where our customers are, and we want to offer them the full range of services they need, whether that is leasing, vehicle financing, draft facilities, business loans, fixed deposits or our revolving loan facilities. Accessibility and reliability are at the core of what we do, and Kohuwela brings us closer to the communities and businesses we are here to serve.”
With its 38th branch now operational, MIFL continues to build toward greater scale and deeper customer reach across Sri Lanka. The company holds a Fitch rating of AA-(lka) with a Stable Outlook and is debt listed on the Colombo Stock Exchange.
About Mahindra Ideal Finance Ltd.
Mahindra Ideal Finance PLC (MIFL) is a licensed non-bank financial institution regulated by the Central Bank of Sri Lanka and a subsidiary of Mahindra & Mahindra Financial Services Limited, India. With an expanding branch network across the island, MIFL provides a comprehensive range of accessible, technology-driven wholesale and retail financial solutions, including multi-brand vehicle financing, leasing, gold loans, and SME financing. Supported by a Fitch AA– rating with a Stable Outlook, the company remains committed to delivering innovative, customer-centric financial services while contributing to inclusive economic growth and financial empowerment across Sri Lanka.
His Excellency Santosh Jha, High Commissioner of India to Sri Lanka, addresses the gathering at the Kohuwela branch inauguration.
From left: Mr. Kishore Reddy, Mr. Thilan Wijesinghe, His Excellency Santosh Jha, Mr. Mufaddal Choonia and Mrs. Devika Lal at the inauguration of MIFL’s 38th branch in Kohuwela.