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
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."