Lanka Rating Agency (LRA) has awarded LOLC Finance PLC, Sri Lanka’s largest Licensed Finance Company an A+ rating with a Stable Outlook, a significant step up from its previous A (Positive Outlook) rating. As per LRA, this upgrade highlights LOLC Finance’s firm market leadership, robust fundamentals, and its ability to deliver sustainable growth despite a [...]

Business Times

LOLC Finance upgrade to a+ (stable) rating from Lanka Rating Agency

View(s):

Mr. Krishan Thilakaratne (right) receiving the rating.

Lanka Rating Agency (LRA) has awarded LOLC Finance PLC, Sri Lanka’s largest Licensed Finance Company an A+ rating with a Stable Outlook, a significant step up from its previous A (Positive Outlook) rating. As per LRA, this upgrade highlights LOLC Finance’s firm market leadership, robust fundamentals, and its ability to deliver sustainable growth despite a challenging economic environment.

As per LRA, these exceptional performance indicators translated directly into the upgraded rating. LRA cited LOLC Finance’s commanding share of the NBFI sector accounting for over 36 per cent of sector profits, 30 per cent of industry equity and 20 per cent of sector assets, its resilient capital base, and prudent risk management as key factors underpinning the A+ (Stable) assessment, LOLC Finance said in a media release.

As at FY24/25, LOLC Finance’s asset base stood at approximately Rs. 430 billion, representing around 20.5 per cent of the industry’s total assets. Net interest income surged to nearly Rs. 42 billion, up 10.8 per cent from FY24, while the core spread improved to 11.6 per cent, driven by declining interest rates and liability re-pricing. Profit After Tax (PAT) rose sharply by 16.4 per cent to Rs. 25.1 billion, with core income making up 84 per cent of total income.

The company consolidated its market presence through a series of strategic mergers in 2022 and 2023, bringing together Commercial Leasing & Finance, LOLC Development Finance and Sinhaputra Finance under the LOLC Finance brand. This integration created a unified platform of unmatched scale, expertise, and reach, streamlining operations, unlocking synergies, and enabling the delivery of an expanded portfolio of innovative financial solutions to an ever-growing customer base across Sri Lanka.

Commenting on the achievement, Chief Executive Officer Krishan Thilakaratne said, “This reflects not only our performance and current financial strength but also our vision and future business plans, together with our ESG focus and the quality of risk management, which have always been key.”

Share This Post

WhatsappDeliciousDiggGoogleStumbleuponRedditTechnoratiYahooBloggerMyspaceRSS

Hitad.lk has you covered with quality used or brand new cars for sale that are budget friendly yet reliable! Now is the time to sell your old ride for something more attractive to today's modern automotive market demands. Browse through our selection of affordable options now on Hitad.lk before deciding on what will work best for you!

Advertising Rates

Please contact the advertising office on 011 - 2479521 for the advertising rates.