Edirisinghe Trust Investments Finance Limited also popularly known as ETI Finance is a Sri Lankan private limited company as well as a non banking financial institution which worked as a licensed finance company accepting deposits from general public. The company's business was primarily based on lending money on gold securities. On 13 July 2020, Central Bank of Sri Lanka decided to cancel the license of the company due to insufficient capital and financial problems regarding repaying depositors' money on demand as well as before maturity.[1][2]
Corporate history
The company was founded by veteran entrepreneur E. A. P. Edirisinghe in 1967 initially as a pawning business registered under the Finance Companies Act no 78 of 1988.[3] The company later expanded its business activities such as accepting deposits, leasing etc. ETI Finance is a core company of popular family controlled entity EAP Holdings.[4] The company was regarded as a leading financial institution in Sri Lanka for decades and the reputation of the business started to make downfall soon after the death of E. A. P. Edirisinghe.