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Sunday, 20 September 2015

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BRAC Lanka Finance PLC opens first regional office

BRAC Lanka Finance PLC, LOLC Group's latest addition to its micro-financing sector recently opened its first regional office at E.M.W. Jayasooriya Mawatha, Nupe, Matara.


Kapila Jayawardena presents a group loan facility to a customer.

The regional office is equipped with modern service facilities and is manned by a team of experienced and dedicated personnel.

Last year, Commercial Leasing Company PLC, a group company of LOLC, bought BRAC Lanka Finance. Catering to the lowest end of the micro lending segment in the country, BRAC is renowned as Sri Lanka's only micro finance company with the highest level of female participation. BRAC's client base of 160,000 comprises entirely of female borrowers while 93% of its staff members are female.

The field operations are completely handled by BRAC's female staff. Through a large network of service centres scattered throughout many rural areas of the island, BRAC steers ahead with its primary objective of empowering women.

The company focuses on lending exclusively to women entrepreneurs engaged in self-employment, manufacturing, trade and services.

Group Managing Director, Kapila Jayawardena said, "BRAC has the potential to further enrich the group's microfinance vision by penetrating more into the business activities of female entrepreneurs in the bottom layer of the pyramid across the country".

Deputy CEO, BRAC Lanka Finance PLC, Rohana Kumara said, "This is just the beginning of our expansion. We hope to introduce a new IT system to expand our product portfolio to female borrowers. Currently we offer group loans and leasing facilities, but we hope to provide urban micro financing loans, individual loans, development loans and home improvement loans soon."

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