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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)
Dec 23, 2016 (LBO) – Sri Lanka’s finance firm, Brac Lanka Finance is to raise 1.32 billion rupees by way of a rights issue, the company said in a stock exchange filing.
Dec 15, 2016 (LBO) – Sri Lanka’s securities watchdog, the Securities & Exchange Commission has instructed the Colombo Stock Exchange to lift the trading ban imposed on Brac Lanka Finance.