LOLC forges ahead with steady growth in profitability

Group Managing Director and CEO LOLC, Kapila Jayawardene

LOLC continued its positive stride in profit growth recording strong bottom line results as at September 2011 with Rs. 7.5Bn as PBT and Rs. 6.7Bn as PAT. The profits before tax recorded a growth of 66 percent and the resultant profits after tax recorded a gain of 75 percent over the previous year.

In 2009, the LOLC Group repositioned its business model in line with the potential growth areas of the economy on the backdrop of the new found peace. Alongside, LOLC continued expanding its core business of financial services comprising Leasing, Hire Purchases, Loans, Factoring and Working Capital, Micro Financing, Islamic Financing, Savings, Deposits in Local and Foreign currency, Insurance in General and Life, Stock Broking and selected strategic investments in the banking sector including Seylan and HDFC. The Group set up a fully-fledged motor vehicle restoration center - LOLC Motors, as a value addition to its fleet management and insurance businesses.