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From Industrial To Knowledge Economy

Aug 14, 2010 3:04:05 PM - thesundayleader.lk

Roshan S. Egodage

Kandy-based finance giant Commercial Credit re-invented itself with a new look from “inside out” to reaffirm its position as one of the fastest growing finance companies in the country.
Speaking to The Sunday Leader Commercial Credit CEO Roshan S. Egodage said that the company which has a wide product portfolio and runs an 18 branch network and centres across the island has remained one of the strongest and most reliable finance companies in the country since its inception 28 years ago.
Egodage said, “Our new culture of equality and openness allows us to grow to our full potential because we have entered into a knowledge worker era from an industrial age era and those age old traditions in how companies should be run are sadly what hold most companies back from growth.
He added, “We earned more respect and trust from our customers in the economic downturn than in any other period because we stood by them in honouring their withdrawals whether it was at maturity or in their hour of need. It spoke volumes of the company’s stability,” he said, adding “the other important thing we did was to reinvest and expand in the company itself when others were losing heart and it’s paid off handsomely.”
Egodage said that the company increased its staff by a 100% and also its assets base by 300% and currently has one of the best processes thanks to a streamlined IT system which makes for better and faster service to its customers.
Branches islandwide have been refurbished, bad credit and legal cases slashed and the company now stands as one of the few in the country, according to Egodage who can compete at a global level.
Commercial Credit has been successful and consistent in serving the rural agricultural sector and has now diversified into Micro Finance. This serves around 10% of the total portfolio. Commercial Credit also offers all other facilities offered by a finance company, and also is in the process of increasing it’s involvement in the real estate sector.  Commercial Credit has its roots islandwide, including Kandy, Colombo, Anuradhapura, Hingurakgoda, Rathnapura, Galle, Avissawella, Embilipitiya, Kurunegala, Negombo, Galnewa, Dehiattakandiya, Galenbindunuwewa, Thambuththegama, Mahiyanganaya, Maharagama, Nuwara Eliya and Dambulla and will soon expand its services to the North and East where it can claim to be a service provider to the Nation as a whole.
Egodage said, “Our promise to our team members is that for their time with us they will grow, they will learn and they will feel good about coming in to work every day because they are contributing towards increasing the balance in the emotional bank account of any person who comes into contact with us, that satisfaction gained could never be compared to any other benefit they are receiving at the moment.”
The company boasts of a motivated and disciplined staff with strong leadership qualities that are claimed to be the sector’ best. According to Egodage professionalism and ethics form the bedrock of the company’s offering not only in Colombo, but across the Commercial Credit network.
He said, “I’m lucky to have some of the most skilled, talented and knowledgeable team players in the industry as part of my team. What we’re trying to do now and in the course of the next three years however is to promote a different kind of work culture, one that is transparent and democratic because good companies breed good people and we are more than just a money making entity, we have a purpose and are determined to leave a proud legacy behind us in the next 100 years.”