Financial Services - Sectors | MSME platform stands | LOLC

Financial Services

Driven by an unwavering focus on our customers’ success, LOLC is rapidly expanding its footprint in across the globe, building a secure future for underserved communities through market-based solutions. LOLC is making a difference in the MSME landscape by deploying best practices in customer protection, customer experience, risk management, and the application of digital technology. By building the economic strength of individuals, LOLC seeks to propel the GDP growth of its host countries- a mission that ensures our MSME platform stands out in the global financial services industry.

$2.0 Bn

Gross loan portfolio
$2.7 Bn

Total assets
1.4Mn

No. of borrowers
649

No. of branches

LOLC Finance PLC

LOLC Finance, the largest Non-Banking Financial Institution in Sri Lanka, provides a comprehensive range of deposit and lending products including technology-backed financial services ranging from microcredit to enterprise solutions. The entity is also listed on the Colombo Stock Exchange.

LOLC Factors Limited

LOLC Factors commenced operations in 1992 as the first factoring company in Sri Lanka, established to cater to the growing demand for working capital through its range of services including factoring, structured working capital loans, purchase order financing, and cheque discounting.

LOLC Cambodia PLC

LOLC Cambodia is a deposit-taking microfinance institution that offers a wide range of financial services. The company is positioned as Cambodia’s third-largest microfinance institution in terms of the number of clients, gross loan portfolio, and deposit balance. It has been one of the fastest-growing MFIs in Cambodia through innovative product development and automation initiatives.

LOLC Myanmar Micro-Finance Company Limited

LOLC Myanmar, LOLC’s Greenfield operation in Myanmar, was incorporated as a licensed deposit-taking microfinance institution in 2013. The company offers a wide range of credit facilities including group loans, and individual loans. Currently, it is among the top five microfinance institutions in the country in terms of assets.

PT LOLC Ventura Indonesia

Recognizing the vast untapped potential in Indonesia, LOLC ventured into the country in 2018, acquiring a controlling interest in PT LOLC Ventura (previously known as PT Sarana Sumut Ventura), which was a venture capital company with one branch and without any exposure to microfinance. LOLC Ventura currently serves the bottom of the pyramid population in Sumatra and Java islands.

LOLC Microfinance Bank Limited (Pakistan)

LOLC Microfinance Bank (previously known as Pak Oman Microfinance Bank) received its microfinance license from the State Bank of Pakistan to commence microfinance activities nationwide, in 2006. The Sultanate of Oman and the Pak Oman Investment Company jointly sponsored the entity. In 2017, LOLC acquired a controlling stake in the Bank. The entity became a fully-owned subsidiary of the LOLC Group in 2022. The bank provides a range of deposits and lending products to its customers.

LOLC Bank Philippines Inc

LOLC acquired controlling interest in LOLC Bank Philippines (previously known as Inter Asia Development Bank). The bank offers a comprehensive range of lending and deposit products to its MSME customers.

LOLC Finance Philippines Inc

LOLC ASKI Finance Inc. is a partnership formed in 2019 between LOLC and the ASKI Group of Companies in the Philippines, with LOLC owning the majority stake in the company. The roots of LOLC ASKI Finance can be traced back to April 2017, when the original company, Alaylaya Sa Kaunlaran, was formed under the ASKI Group. The entity was rebranded as LOLC Finance Philippines Inc. in 2022. The company offers tailored financial products to its MSME clients.

Karat (LLC LTMKh and LLCTMKhL)

Karat, LOLC's maiden investment in the Central Asia region is the largest chain of pawnshops in Tajikistan. LOLC acquired controlling interest in Karat in 2021. The company has a license to conduct micro-lending and gold loan business. Karat provides loans backed by gold, vehicles, and other property while operating several jewelry stores in Tajikistan.

Fazo-S Microcredit Deposit Organization

In 2022, LOLC acquired a 100% stake in Fazo-S, which is a microcredit and deposit-taking financial institution. Fazo-S provides deposits, loans for agriculture, services, industry and consumer segments. The entity was founded in 2009.

ABN Microfinance Limited

ABN Microfinance was incorporated as a credit union in 1998 and was recognized as a microfinance company in 2014. LOLC acquired controlling stake in ABN in 2022. The company currently offers four main product types, consumer loans, business loans, agriculture loans, and quick loans.

Fina Trust Microfinance Bank Limited

LOLC made its maiden venture into Africa in 2018 by acquiring controlling stake in Fina Trust Microfinance Bank, one of the leading microfinance institutions in Nigeria. The company caters to individuals, MSMEs, and employees through the provision of loans, savings, and customized financial products.

LOLC Finance Zambia Limited

LOLC commenced its greenfield operations in Zambia with the deposit-taking non-banking license obtained in 2020. LOLC Finance Zambia offers a range of finance products while focusing on narrowing the access to financial services gap by locating its services close to industrial mining areas.

Tujijenge Tanzania Limited

In 2021, LOLC acquired controlling interest in Tujijenge Tanzania, a non-deposit-taking microfinance institution, which was incorporated in 2006. Under LOLC ownership, the company will be converted to a deposit-taking microfinance institution providing financial services through group and individual lending to MSMEs. Currently, the entity offers auto loans, business loans, and salary loans to its clients.

LOLC Finance Limited (Malawi)

LOLC Finance- Malawi (previously known as Express Credit Malawi), a non-deposit-taking microfinance institution, was acquired by LOLC in 2021. LOLC is currently in the process of converting the company to a deposit-taking entity. The entity currently offers a wide range of lending products such as salary loans and short-term and long-term loans to its customers.

LOLC Kenya Microfinance Bank PLC

In 2022, LOLC acquired controlling stake in LOLC Kenya Microfinance Bank PLC (Previously known as Key Microfinance Bank Limited), which operates as a deposit-taking microfinance institution in Kenya. The bank has been in operation since 2010. The bank offers a range of deposit and lending products including personal loans, asset backed loans, and working capital facilities to MSME clients.

Yambukai Finance (Pvt) Limited

Yambukai Finance commenced its operations in the year 2000 as a non-deposit-taking microfinance lending institution in Zimbabwe and LOLC acquired a majority stake in the entity in 2022. LOLC intends to convert the entity into a deposit-taking microfinance institution by replicating its successful MSME business model. Dollarized economy in Zimbabwe is expected to bode well with the entity’s expansion plans. The entity currently offers a wide range of products such as salary-based loans, business loans, zero-rate loans, and asset financing.

LOLC El-Oula Microfinance Egypt

First Microfinance Company (FMC) was incorporated in 2005 and was converted into a microfinance institution in 2018. LOLC acquired FMFC in 2022 and rebranded the entity as ‘LOLC El-Oula Microfinance’. It currently offers loan products under income-generating loans, social lending, and SME development categories.

LOLC Life Assurance Limited

LOLC Life Assurance is committed to providing comprehensive tailor-made insurance solutions including customized life insurance plans, pension plans, child plans, critical illness plans, and home loan protections. The entity aims to reach closer to its potential customer base in a highly under-penetrated Life Insurance market, where only about 10% of the total eligible population has life insurance in Sri Lanka.

LOLC General Insurance

LOLC General Insurance PLC offers all classes of products in the General Insurance space. It is one of the fastest-growing insurance companies in Sri Lanka. In 2022, the company was listed on the Colombo Stock Exchange with the IPO being oversubscribed by 12.23 times.

Serendib Microinsurance PLC (Cambodia)

LOLC ventured into the microinsurance space in Cambodia in 2021. The initial products envisaged are loan protection covers for borrowers of microfinance companies in Cambodia, providing a safety net to the borrower’s family members in the event of an unforeseen eventuality. Cambodia’s insurance penetration rate is very low at 1.04% while its middle class is the fastest growing in South East Asia.

LOLC Insurance Myanmar

LOLC Insurance Myanmar is a representative office of LOLC Life Assurance Ltd. LOLC believes in the immense potential in the market with the Myanmar insurance segment being young and underdeveloped along with the lowest insurance penetration rate in the region.

Seylan Bank PLC

Seylan Bank is a licensed commercial bank incorporated in 1987. The bank is listed on the Colombo Stock Exchange. It is the fifth-largest private sector bank in the country in terms of total assets and fourth in terms of footprint with LOLC as its single-largest shareholder with the ownership of a 38% stake in the bank. The bank offers a comprehensive suite of products and services including branch banking, retail banking, corporate and foreign currency banking, and trade finance.

Hatton National Bank

Hatton National Bank (HNB) was incorporated in 1888. Currently, it is positioned as the second-largest licensed commercial bank in Sri Lanka, and the bank is ranked among the top 1,000 World Banks. HNB offers corporate and SME banking, microfinance, insurance, investment banking, and real estate services. LOLC is the single-largest shareholder of HNB with 17% ownership of the bank’s stake. The bank is also listed on the CSE.

DFCC Bank PLC

DFCC Bank was established in 1955 as the first development bank in Sri Lanka. In 2015, DFCC ventured into commercial banking and the bank was listed on the CSE in 2016. LOLC owns a 9.99% stake in DFCC. The bank offers a comprehensive range of services including corporate and SME banking, investment banking, unit trusts, stock broking, venture capital, industrial estate management, consulting, and IT services.

HDFC Bank

HDFC Bank is a listed, licensed specialized bank established in 1984. 70% of the bank’s loan portfolio consists of housing loans, keeping in line with the bank’s mandate of fulfilling housing-related financial needs. LOLC owns a 15% stake in HDFC Bank.

Sanasa Development Bank

Sanasa Development Bank (SDB) is a listed, licensed specialized bank. SDB focuses on serving the ‘bottom of the pyramid’ population and aims to be a leading partner of national progress. LOLC became the single-largest shareholder of the bank with the acquisition of a 15% stake.

LOLC Al-Falaah, Alternate Financial Services Unit

LOLC Al-Falaah is the dedicated Alternate Financial Services Unit of LOLC Finance, established as an effort to ensure that all products and services are handled in compliance with Islamic principles. Customers can conveniently access the entity’s products through Al-Falaah’s dedicated centers and LOLC Finance's island-wide branch network.

LOLC Securities Limited

LOLC Securities is a trading member of the Colombo Stock Exchange, facilitating value-added services including in-house margin trading, attractive credit facilities, and a sophisticated online trading platform. The company caters to a wide range of local and foreign clientele with the support of a strong research unit.

LOLC Motors Limited

LOLC Motors was launched in 2010 as a service provider for the LOLC Group's fleet of vehicles and expanded its services to external customers. The entity provides fleet management services to leading multinational companies as well as other enterprises in Sri Lanka.

Financial Services Insights

LOLC Finance poised to fuel economic resurgence in Sri Lanka

In one of the most historic mergers in Sri Lanka, LOLC Finance, the largest NBFI in the country merged with its sister company, Commercial Leasing & Finance (CLC), to become the largest Non-Banking Financial Institution (NBFI) in Sri Lanka earlier this year.

NMI Invests USD 7m In LOLC Cambodia, Supporting Financial Services For Low-Income Families

The USD 7 million subordinated loan is a continuation of Nordic Microfinance Initiative’s (NMI) partnership with LOLC Cambodia, having disbursed a senior loan in 2018 which was fully repaid in 2021. The new loan will support the Company in expanding the reach of its financial products to underserved families in rural Cambodia.

Pak Oman Microfinance Bank enters into a strategic partnership with NIBAF

Pak Oman Microfinance Bank enters into a strategic partnership with NIBAF, to facilitate the unprivileged communities of the country by creating financial awareness campaigns.

LOLC Finance revolutionises the Digital Industry by bagging Five Golds at Technnovation Awards 2022

Sri Lanka’s premier Non-Banking Financial Institution (NBFI), LOLC Finance PLC which is renowned for offering cutting-edge digital financing solutions, proved its expertise yet again in the digital financing sphere, competing with the country’s prestigious banks and NBFIs to gain these top awards.