Local cultivators can once again profit from a collaboration between the Commercial Bank of Ceylon PLC and Associated Motorways (Private) Limited (AMW), which will enable them to enjoy leasing facilities for New Holland tractors with a series of special benefits including a price discount of Rs. 135,000.

The popular ‘Agri Lease’ promotion of the two companies is back and will run till the end of 2023, offering low monthly lease rentals, free RMV registration, three labour free services and a free tool kit, in addition to the discounted price, the Bank said.

A standout feature of this promotion is Commercial Bank’s ‘Kanna Varika’ (Seasonal Payments) option via a customised leasing package corresponding to the farmers’ income patterns, under which rentals will be serviced only during harvesting periods.

The Bank said that the prime objective of the promotion is to empower the farming community to access the latest technology and equipment, thereby contributing to improve income and support national economic development. The promotion will be conducted in agricultural areas by the Bank’s Agriculture & Micro Finance Unit (AMFU) officers and the sales teams of AMW.

The New Holland Agriculture brand is globally renowned for providing solutions that improve farming efficiency and productivity by using accessible technology. AMW’s partnership with New Holland Fiat India enables them to offer a wide range of easy-to-operate tractors, harvesters, material handling and seeding equipment. New Holland has more than 100 product lines and over 400 models globally.

AMW was established in 1949 as a pioneer tyre retreading company, and is today a highly respected company in Sri Lanka’s automobile sector, representing several leading international nameplates for passenger cars, trucks and buses as well as three wheelers and motor cycles, in addition to tractors and agricultural machinery.

Sri Lanka’s first 100% carbon neutral bank, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 12 years consecutively, Commercial Bank operates a network of 271 branches and 957 automated machines in Sri Lanka. Commercial Bank is the largest lender to Sri Lanka’s SME sector and is a leader in digital innovation in the country’s Banking sector. The Bank’s overseas operations encompass Bangladesh, where the Bank operates 20 outlets; Myanmar, where it has a Microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.

Photo caption: Commercial Bank’s Chief Operating Officer Mr S. Prabagar (4^th from left) and AMW’s Group Managing Director Mr Peter Mackenzie exchange the agreement in the presence of representatives of the management of the two institutions.