Seylan Bank PLC has entered into a strategic partnership with Sathosa Motors PLC (SML), the authorised importer and distributor of ISUZU vehicles in Sri Lanka, to introduce a dedicated leasing facility for customers purchasing ISUZU commercial and passenger vehicles.
The partnership, formalised through the signing of a Memorandum of Understanding (MoU), is designed to make vehicle ownership more accessible by offering competitive leasing solutions, simplified financing, and a faster, customer-focused approval process. The initiative underscores Seylan Bank’s commitment to expanding financial accessibility while supporting the mobility needs of individuals and businesses across the country.
Through the new facility, eligible customers purchasing ISUZU commercial and passenger vehicles can benefit from an accelerated approval process completed within 24 hours. Customers will also have access to flexible repayment plans of up to seven years, providing greater convenience and affordability.
Commenting on the partnership, Asiri Abhayaratne, Assistant General Manager – Marketing & Sales at Seylan Bank PLC, said, “This collaboration enables us to deliver practical and accessible leasing solutions while reaffirming our commitment to empowering businesses and individuals to achieve their goals. By combining our financial expertise with Sathosa Motors’ trusted ISUZU vehicle portfolio, we aim to support the evolving mobility needs of our customers.”
Dirk Joshua, Executive Director – Sales & Marketing at Sathosa Motors PLC, said, “Partnering with Seylan Bank allows us to offer customers an enhanced ownership experience by combining reliable financing with the quality, durability, and comprehensive after-sales support that ISUZU vehicles are known for.”
Customers purchasing vehicles under the scheme will also receive a range of exclusive benefits from Sathosa Motors PLC, including discounts of LKR 100,000 on ISUZU trucks and LKR 200,000 on ISUZU double cabs, a 25% discount on spare parts for one year, complimentary vehicle registration, and the first three scheduled services free of charge. Warranty coverage will be provided according to the respective vehicle model, further enhancing the overall value of the offering.
Sri Lanka Apparel Exports Climb Nearly 8% in May Amid Rebound in US Demand
Sri Lanka’s apparel and textile exports recorded their strongest monthly performance of 2026 in May, increasing 7.96% year-on-year to US$394.14 million, supported by a strong recovery in demand from the United States despite growing global trade uncertainties.
Industry data showed exports to the US surged 15.36% to US$149.96 million during the month, reflecting renewed confidence among American buyers in Sri Lanka’s apparel sector. Exports to markets outside the industry’s three traditional destinations also posted strong growth, rising 14.61% to US$70.67 million. Meanwhile, shipments to the United Kingdom grew marginally by 0.87%, while exports to the European Union eased 0.3% to US$121.35 million.
The improved performance comes at a pivotal time for Sri Lanka’s apparel industry as the country continues discussions with the Office of the United States Trade Representative (USTR) over a Section 301 investigation linked to imports allegedly produced with forced labour. A proposal released in June recommended an additional 12.5% tariff on Sri Lankan exports, placing the country among 46 nations under review.
Several regional competitors, including Bangladesh, Cambodia, Pakistan and Indonesia, have instead been proposed a lower 10% tariff after implementing measures to address forced labour concerns. With a public hearing on the proposed tariffs scheduled for July 7 in Washington, the outcome is expected to have significant implications for Sri Lanka’s export competitiveness.
Despite the uncertainty, the Joint Apparel Association Forum (JAAF) said May’s export performance demonstrates the resilience of Sri Lanka’s apparel industry and the continued confidence of global buyers.
“May’s numbers are genuinely encouraging, and they reflect the trust our buyers continue to place in Sri Lankan manufacturing even amid a challenging trade environment,” JAAF said. The industry body reiterated that achieving tariff parity with competing apparel-exporting nations will be essential to maintaining growth momentum and safeguarding the sector’s international competitiveness.
Seylan Bank and Sathosa Motors Partner to Launch Exclusive Leasing Solutions for ISUZU Vehicles
