- Asset quality weakened in Q109 with three-month NPLs rising to 10.3% of gross loans, on account of a single giant delinquency on LOFIN's working capital mortgage book; without which the corporate's gross NPL ratio would be nearer to its father or mother's of 8.2% at Q109.
- With the initiation of the RERED project in 2003, LOLC has been relentlessly concerned in microfinance offering bespoke merchandise to grass root degree entrepreneurs.
- Achintha missed sneaking kokis from his grandma while Chamode and Channa shared the identical view where they missed the prestigious ganu denu session.
- Thereby, prospects of both Lanka ORIX Finance Company and Commercial Bank will have the added benefit of accessing the ATM community from any location island extensive.
- Group Managing Director and CEO of LOLC Mr. Kapila Jayawardena; Managing Director and CEO of LOFC, Mr. Brindley de Zylva; CEO of Al-Falaah Islamic Business Unit Mr. Krishan Thilakaratne; Chief Officer Branch Network Mr. Ashan Nissanka have been amongst the distinguished friends gathered on the opening ceremony of this new department.
- Adding further he stated that at the time of its launch, FusionIBL Savings was the primary of its type to be launched in Sri Lanka, the place on-line and month-to-month revenue distributions have been supported, whereas offering all amenities and advantages of a regular standard financial savings product, similar to ATM and Debit Card amenities with worldwide ATM entry.
All enterprise units contributed well towards the growth with asset based lending still making the very best contribution to the profits. Also, Working Capital and Savings businesses did exceptionally well, with profits from the former making significant contribution to the groups backside line. Having thought-abouthow to plaster a wall , strong business direction, transparent governance and strong monetary profile, many distinguished multilateral agencies had been eager to companion with us' said Mr Ravi Tissera, CEO of Micro Finance.
Jaya Sri Songs
LOLC, during the year entered into an innovative partnership with Lanka IOC to open LOLC Service Centres at the gasoline stations. This is considered to be strategic in servicing the SME and the Micro Finance sectors and the corporate has already opened 11 such service factors. Further strengthening the collections processes, the corporate entered right into a strategic alliance with Citi Bank and Bank of Ceylon to facilitate rental collections at BOC branches. This will give the customer the comfort of payment whereas enhancing the gathering effectivity for the company.
Jaya Sri Nonstop Songs
LOLC won a prestigious Silver Award on the just lately held HRP awards organized by the Human Resources Professionals Sri Lanka. After three of LOLC Finance Companies have been ranked among the best 5 Corporates to work in Sri Lanka in 2013, LOLC continued to be rewarded and acknowledged within the current past. LOLC being a agency believer in nurturing its Human Capital was rewarded with a Gold Award at the People Development Awards in 2013, organized by the Sri Lanka Institute of Training and Development.
Culture Of Sri Lanka
LOLC is in the means of finalizing the management settlement with one of the largest lodge operators on the planet to manage this complex. Commenced in 2009, LOLC Micro Credit Ltd has turn into the leading microfinance institution within the country. Its unique enterprise model comprises of a triple bottom line method backed by the financial energy and technical assist of bilateral and multilateral funding agencies together with the help of its mother or father company, LOLC. Over the years, LOMC has become a catalyst for growth to many entrepreneurially lively men and women from the grass root stage, low income communities across the country. The earnings progress corresponds with the focused enterprise methods of Lanka ORIX Finance PLC , LOLC Micro Credit Ltd and Commercial Leasing and Finance Ltd , which is to strengthen its presence within the North and East and to help financing activities of the agriculture centric consumer section.
Looking again at Al-Falaahs vibrant track record and its rising affect as one of the leading Islamic Finance entities of the country, I am confident that the corporate will use this as an impetus to turn out to be even stronger. Also sharing his views, Mr Shiraz Refai, Assistant General Manager, Al-Falaah Islamic Business Unit of LOLC Finance stated, The concluded IFFSA convention and Awards featured a few of the most outstanding opinion leaders and industry contributors and players from the region. We take humble delight in being recognised as a key player and a socially responsible financier in the region and attempt to add more value for all business stakeholders each domestically in addition to regionally, going ahead. The inaugural IFFSA Awards 2016 was held alongside the first Islamic Finance Forum of South Asia which encompassed the whole South Asian area. The forum discussed the vital thing challenges and the potential for Islamic Finance within the South Asian region as a bloc that includes a big focus of Muslims on the earth. Al-Falaah, the Islamic Financial Services arm, brought glory and honour to LOLC Group by winning two Gold awards and one Silver at the 1st Islamic Finance Forum of South Asia Awards 2016 which was organised by UTO EduConsult and adjudicated by KPMG Sri Lanka.
