LOLC Group achieves first-ever historic profitability in Sri Lanka’s corporate sector, recording a stunning Rs. 57 Bn in PBT

31 May 2021, Colombo: Sri Lanka’s most valuable and globally diversified financial conglomerate, the LOLC Group, posted a record-breaking performance for the financial year ending 31st March 2021, achieving unprecedented bottom line results of Rs. 57Bn in Profit Before Tax (PBT), and a Profit After Tax (PAT) of Rs. 53Bn - a first for any corporate in the country. By achieving p...

LOLC dethrones JKH to become most profitable listed corporate

Lanka Orix Leasing Company (LOLC) has emerged as the most profitable listed corporate, dethroning premier blue chip JKH.

As confirmed by interim results released yesterday, the LOLC Group’s post-tax profit in the 2016/17 financial year was a mammoth Rs. 21 billion, as against that of JKH, which last week reported a figure of Rs. 18.1 billion.

LOLC’s bottom line was Rs....

Sri Lankan insurance industry yet to realise full potential

The insurance industry in Sri Lanka is still at early stage of the lifecycle despite the growth momentum in recent times. Despite low penetration, total insurance premium income over the last five years has witnessed higher growth relative to GDP growth of the country with total industry assets growing at a 14% CAGR annually. 

The industry can be segregated into Life insurance an...

LOLC buys majority stake in Cambodian microfinance firm

Daily Ft: LOLC International Ltd., a wholly-owned subsidiary of Lanka ORIX Leasing Company (LOLC), and The Bank of East Asia (BEA), have acquired a majority interest in PRASAC Microfinance Institution Ltd.

The acquisition was made from Belgian Investment Company for Developing Countries SA (BIO), Dragon Capital Group Ltd. and Nederlandse Financierings-Maatschappij voor Ontwikkeling...

LOLC’s globally recognised microfinance model ventures into Pakistan

Daily Ft: The LOLC Group on Friday inked a historic joint venture with Pak Oman Microfinance Bank Ltd., to introduce LOLC’s exceptional and globally accepted Microfinance model to the people of Pakistan.

Having observed LOLC’s uniquely effective microfinance business model and its success stories in Sri Lanka, Myanmar and Cambodia, Pak Oman Microfinance Bank Ltd. which is a joint vent...

LOLC in massive Maldives push

LOLC Group marked its first overseas leisure venture in the Maldives and also broke new ground in Sri Lanka-China relations last week, announcing its North Malé Resort Development project in partnership with State-owned China Machinery Engineering Corporation (CMEC).

Presenting three brand new islands to CMEC last Thursday, LOLC announced the massive and innovative 50:50 JV project va...

Ethical conduct critical to attract international financial industry- CFA Sri Lanka Capital Market Awards 2016

Daily Ft: The CFA Society of Sri Lanka believes engraving the value of ethical conduct among capital market participants would be critical to garner confidence of the international financial industry, which would ultimately determine the country’s position in the ever-competitive global financial landscape.

“We firmly believe that while a well-structured regulated capital market is...

Positioned for sustainable growth: Private healthcare industry in Sri Lanka

Sri Lanka’s per capita health spend is relatively low compared to the average per capita health spend of upper-middle-income countries albeit the country maintains better health indicators in the region. In the two-tier health system, Sri Lankan public sector provides free medication while the private sector services more affordable patients.
While there is a...