LOLC honoured amongst Top 10 Most Admired Companies in Sri Lanka for 3rd consecutive year

LOLC Group Managing Director/CEO Kapila Jayawardena receiving the award from Chief Guest High Commissioner of India to Sri Lanka Gopal Baglay. Also present are Guest of Honour Mayor of Colombo Rosy Senanayake, LOLC Group Chief Operating Officer Kithsiri Gunawardena, International Chamber of Sri Lanka (ICC Sri Lanka) Chairman Dinesh Weerakkody and AIA Sri Lanka Chief Executive Officer Nikhil Advani

LOLC has retained its undisputed rank amongst the Top 10 Most Admired Companies in Sri Lanka for the year 2021. This is the third year in a row that LOLC was honoured with this coveted title which is awarded annually by the Chartered Institute of Management Accountants (CIMA) and International Chamber of Commerce, Sri Lanka (ICCSL). 

LOLC secured this position based on another year of stellar financial and non-financial performance. Each year, the Most Admired Company Awards recognise entities that stand out above the rest in terms of their financial performance and the value they create for their shareholders, customers, employees, and the wider community in general.

LOLC Group Managing Director/CEO Kapila Jayawardena said: “LOLC is truly honoured to achieve this accolade for the third consecutive year. The Group also retained the top spot in the LMD 100 ranking as the Most Profitable Listed Company in 2020/21. It is a great thing to register remarkable success both financially and non-financially. But it’s a greater achievement to retain that success over a longer period of time. I am also proud to note that LOLC delivered a historic performance across our local and global operations despite the unprecedented conditions created by the global pandemic.”   

LOLC, Sri Lanka’s most valuable and globally diversified financial conglomerate, posted a record-breaking performance for the 2020/21 financial year, achieving unprecedented bottom line results of Rs. 57Bn in Profit Before Tax (PBT), and a Profit After Tax (PAT) of Rs. 53 b – a first for any corporate in the country. By achieving profits on this massive scale in the history of Sri Lanka’s corporate world, the Group was able to consolidate its position as the top most profitable diversified corporate in the country, three years in a row – establishing LOLC as one of the largest Micro and Small and Medium Enterprises (MSME) platforms in the world.

The LOLC Group is engaged in leisure, plantations, agri-inputs, renewable energy, construction and real estate, manufacturing and trading, technology, research and innovation and other strategic investments. As a leading player in Sri Lanka’s MSME sector, the LOLC Group has been a catalyst in facilitating financial inclusion, whilst striving to maximise environmental benefits through green operations and processes in line with its triple bottom line focus.

Having established a high performance microfinance business model, LOLC rapidly exported its expertise to global markets such as Cambodia, Myanmar, Indonesia, Philippines, Pakistan, Zambia, Nigeria, Malawi, Tajikistan and Tanzania, bringing prosperity to people at the bottom of the pyramid. In addition, the Group has established its footprint in the Maldives, Mauritius and Sierra Leone in the arena of non-financial services. 

Over the years, the Group has been backed strongly by Development Finance Institutions and multilateral funding lines, which reflects the confidence these global entities place in the Group’s sustainable operations. Sustainability is embedded in the Group’s ethos and embodied in its transparent, fair, equitable and beneficial products and services that are uplifting the lives and livelihoods of thousands across the globe, giving them hope for a brighter tomorrow. 

The LOLC Group is on an accelerated growth trajectory and is inspired by the quest to nurture and shape the future of individuals and communities across the world.