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Feb 01, 2018 (LBO) – LOLC Finance PLC (LOFC) said the company has acquired a 100 percent shares of LOLC Micro Credit for 12.3 billion rupees.
Sri Lanka’s Non-Banking Financial Institution (NBFI) giant, LOLC Finance PLC bagged three top awards at the LankaPay Technnovation Awards 2017 held recently for the very first time competing against prestigious Banks and NBFIs to gain these top positions. At the glittering awards ceremony, LOLC Finance was bestowed with the following coveted titles: (0-1)
Sustaining its unblemished track record, LOLC Group concluded an excellent year sealed by its strongest financial performance to date. For the year ended 31st March 2017, the Group recorded PBT of 24.4Bn and PAT of Rs. 20.9Bn, an increase of 106% and 124% respectively, compared to the previous year. The consolidated gross income grew by 37% to Rs. 92Bn, while the interest income from financial services grew by 41% to Rs.
The LOLC Group inked a historic joint venture with Pak Oman Microfinance Bank Limited 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 Limited which is a joint venture between the Islamic Republic of Pakistan and the Sultanate of Oman, invited LOLC to take a majority stake in their Microfinance venture. (0-1)
DHL, the world’s leading international express services provider, has reinforced its commitment to deliver unparalleled logistics services to customers, with the unveiling of its newly commissioned fleet of 42 Mercedes-Benz Vito vans. This new fleet, the largest by an express operator in the country and the second largest for DHL in Asia Pacific, will increase the company’s vehicle capacity by 20 percent to meet growing business needs.
Feb 24, 2016 (LBO) – Sri Lanka’s Lanka Orix Leasing Group announced a landmark syndication to borrow 247 million US dollars from three financial institutions including the Asian Development Bank. “...