Laugfs Group enters financial services industry

The Laugfs Group will be entering the financial services sector through its newest subsidiary, Laugfs Capital.

Already a highly diversified conglomerate, Laugfs will now look to catering to the needs of its Sri Lankan customers in the fields of leasing, business loans, hire purchase, personal loans and factoring.

The financial services sector is one of several identified by the Group as potential high growth sectors in Sri Lanka’s economy.

Having developed into a household name, Laugfs Capital will seek to leverage on the trust and confidence placed in the Laugfs brand, along with its years of experience in catering to the uniquely Sri Lankan demands of its rapidly growing customer base in order to make in-roads into the country’s competitive financial services sector.

Despite being a new entrant to the field, Laugfs Capital has identified several gaps in the needs of local consumers which it will specifically cater to by offering a complete portfolio of efficient and convenient value added financial services in order to power the aspirations of every Sri Lankan.

The financial services sector is one of several identified by the Group as potential high growth sectors in Sri Lanka’s economy.

More recently, Laugfs also displayed its renewed focus on the leisure sector with the announcement of multiple hotel developments in tourist hot-spots across the island.

A pioneer in eco-friendly innovations, the group is also engaged in several other growth sectors in Sri Lanka’s economy including the power and energy, engineering, retail and hospitality and property development.

One of Sri Lanka’s most successful and stable companies, Laugfs recorded an annual turnover of Rs. 21.8 billion as at 31 March 2012.