LOLC has been listed amongst the LMD ‘Hall of Fame’ of the Most Respected Entities for 2021. The award was recently presented to LOLC Group Managing Director/CEO, Kapila Jayawardena by Hiran Hewavisenti, Editor-In-Chief of LMD. The globally diversified financial conglomerate took the first place in the LMD 100’s profitability ranking. LOLC secured this position based on another year of stellar financial performance.
The 17th annual edition of the LMD Most Respected, ranks the nation’s most admired corporations. The LMD Most Respected entities in Sri Lanka is commissioned and conceptualised by LMD, and conducted by NielsenIQ. This year’s Most Respected special edition continued with the revised methodology from 2019 for ranking entities whereby NielsenIQ’s exclusive survey for LMD to gauge peer perceptions employed a weighted ranking system.
Laying claim to being Sri Lanka’s most valuable globally diversified financial conglomerate, the LOLC Group posted a record-breaking performance for the 2020/21 financial year, achieving a colossal Rs. 57 billion in profit before taxes. This feat is the first for any corporate in Sri Lanka, achieved amidst a challenging economic environment.
Commenting about the achievement, LOLC Group Managing Director/CEO, Kapila Jayawardena said, “LOLC has strategically diversified into different industries and across borders, targeting and penetrating new and growing markets, and that has provided us a unique competitive edge. The most vital pillar for us is our strong operational backbone. Further, LOLC has always been conscious of its reputation, and strives to maintain an impeccable record. That is why within a span of just 10 years, LOLC has become a global leader in microfinance, and we take pride in it because no other organisation matches our footprint in this sphere”.
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 people, 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.
LOLC Group Managing Director/CEO, Kapila Jayawardena receiving the award from Hiran Hewavisenti, Editor-In-Chief of LMD. Also in the picture is Anil Boudewyn, Sales Director of LMD.