TFC Voyage

1940s

On 30th May 1940, The Finance Company was registered with the Registrar of Companies and was the seventh public company to be registered. The main ...........TFC.

TFC was the seventh public company to be registered with the Registrar of Companies.

The main line of business was financing of motor vehicles which was a service pioneered by TFC.

1950s

In 1954, the company shifted its operations to No.121, Union Place, Colombo 2, which was the heart of the motor trade. The company, continuing to confine itself to financing of motor vehicles, prospered in its new environment for over a decade. As a result, it was able to pay rich dividends to its shareholders, which at times reached as high as 30 %

1960s

The company obtained a listing of its ordinary shares from the Colombo Brokers Association.

Senator Justin Kotelawala became the Chairman of the company. He succeeded in developing it through some of its most challenging times due to the government enforced ban on importation of most goods except essential commodities.

In 1966, the present Chairman Deshamanya Dr.Lalith Kotelawala was appointed to the Board of Directors. In 1968, the company shifted its operations to a fully-equipped and modernized office at Ceylinco House, Queens Street, Colombo 1. Under his able stewardship it began a rapid growth, extending its reach across the island and increasing profitability. It was during this period that Fixed Deposit Schemes were launched.

1970s

Harnessing the unprecedented opportunities provided by the liberalization of the economy, TFC boldly diversified its activities and undertook the financing of gems, industrial raw material, agricultural machinery and other imports. The company's first branch was established in 1976 in Jaffna. Deshamanya Dr. J.L.B. Kotelawala was appointed as Chairman/ Managing Director of the company.With the enactment of the Control of Finance Companies Act No. 27 of 1979, the company came under the supervision of the Central Bank of Sri Lanka.

1980s

This was a period of remarkable growth and the company introduced novel products such as Real Estate, Land Easy Payments Scheme, Import Financing and Pledge Loans to its investment portfolio. Worker shares for employees who had completed 5 years of service were issued at the time.

During this period where the finance industry was in turmoil, at the request of the Central Bank, TFC took over the failed finance companies The Finance & Guarantee Co. Ltd. and Panadura Finance and Enterprises Ltd., and turned them around to be viable, profit making ventures within a short time. Later the company extended its services to include financing of consumer durables.

1990s

When the Central Bank granted registration to finance companies that satisfied its criteria under the provision of the Finance Companies Act No.78 of 1988, TFC became the first company to be registered.

The company was also the first non-banking financial institution to be appointed as a participating member of a loan repayment program funded by USAid.

2000s
	In 2002, TFC obtained its registration under the Finance Leasing Act No. 56 of 2000 and ventured into the spheres of Property Development, Housing and Leasing of buildings and industrial premises. The company succeeded in benchmarking the industry.