- Loan portfolio surpassed Rs. 305 billion.
- Deposit base exceeded Rs. 225 billion.
- Net NPL stood at 4.97%
LOLC Finance PLC set a new benchmark in the NBFI sector by reporting an outstanding Profit After Tax (PAT) of Rs. 25 billion for the financial year ending 31st March 2025.
Conrad Dias, Chairman – LOLC Finance PLC Krishan Thilakaratne, Director/Chief Executive Officer – LOLC Finance PLC
This marks an impressive increase from Rs. 21.5 billion recorded during the previous financial year, delivering double-digit profit growth. Surpassing a historic milestone, this performance is a clear affirmation of LOLC Finance’s transformation into a financial powerhouse, one that has begun to transcend the traditional boundaries between banks and non-banking financial institutions, now competing on par as a national economic pioneer, and a true peer to Sri Lanka’s leading banks.
This resounding performance is the outcome of a robust, visionary strategy anchored in financial inclusion, digital innovation, and sectoral leadership. With a loan portfolio exceeding Rs. 305 billion and a deposit base of Rs. 225 billion, LOLC Finance has displayed a level of financial strength that places the company in direct comparison with the nation’s leading banks. Notably, another standout financial indicator reported by the company during the period is its Net Non-Performing Loan (NPL) ratio which stood at 4.97%, an outstanding improvement from 10.48% reported during the year prior.
The steady growth in the company’s lending and deposit portfolios stands as a reflection of the brand value and loyalty among its customers that LOLC Finance has cultivated across its journey. It is symbolic of its role as a critical intermediary in channelling financial resources towards the SME, microfinance, agriculture, Islamic finance, working capital, factoring, personal loans, gold-backed credit, and vehicle financing sectors – sectors essential to Sri Lanka’s economic landscape.
LOLC Finance’s transformation is both structural and strategic. Following the successful consolidation of four leading regulated NBFIs, the company has architected a unique financial model that bridges the gap of conventional banking, delivering accessible, equitable, and scalable financial solutions across Sri Lanka.
The company has also emerged as Sri Lanka’s largest credit card issuer among NBFIs, a testament to its comprehensive retail offering. With a commanding market share of over 20% in terms of total assets, liabilities and profits, LOLC Finance contributes as a dominant force reshaping the financial services landscape.
“These outstanding results are not only a reflection of our financial strength, they are a clear projection of LOLC Finance’s institutional resilience, strategic vision, and firm commitment to serving the people of Sri Lanka,” stated Krishan Thilakaratne, Director/CEO of LOLC Finance PLC. “With strong operational indicators and healthy performance ratios, we remain confident in our trajectory as a Domestic Systemically Important Financial Institution contributing meaningfully to Sri Lanka’s financial stability and long-term economic growth. Our reach, with over 200 branches across the island, allows us to deliver tailored banking and financial solutions to individuals and enterprises. The strength of our credit quality, combined with our focus on digitalization, financial inclusion, and operational excellence, positions LOLC Finance on par with most respected banks in the country.”
A critical pillar of LOLC Finance’s success lies in its relentless pursuit of digital transformation. Platforms like LOLC Real Time and iPay have redefined convenience, accessibility and transparency for consumers and businesses alike. iPay, Sri Lanka’s most widely adopted pass-through wallet, continues to dominate the digital payment space, earning LOLC Finance multiple accolades at the LankaPay Technovation Awards, including the prestigious Overall Gold Award for six consecutive years.
“This milestone performance is a reflection of our solid commitment to financial inclusion, innovation, and disciplined growth,” said Mr. Conrad Dias, Chairman of LOLC Finance PLC. “At LOLC Finance, we do not merely follow industry trends, we set them. As Sri Lanka looks toward sustainable recovery and inclusive growth, LOLC Finance emerges not just as a participant, but also as a catalyst, redefining financial norms, broadening opportunity, and shaping a resilient economic future for all. By continuously empowering individuals and enterprises across every corner of the island, we are not only strengthening our own institution, but also advancing Sri Lanka’s broader economic future. Our journey is guided by purpose, powered by technology, and anchored in trust.”
Further solidifying its innovation-first philosophy, LOLC Finance is rapidly advancing toward a paperless, AI-integrated financial future, offering smarter, more intuitive financial experiences to the underbanked and underserved. These efforts underpin its ambition to emerge as the most digitally inclusive financial institution in the country.
With an (SL) A Positive rating from Lanka Rating Agency (LRA), LOLC Finance has fortified stakeholder confidence, ensuring resilience through capital adequacy, governance, and liquidity. The rating underscores the company’s capacity to not only weather uncertainty, but to lead with conviction, scale with purpose, and perform with consistency.