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LOLC Finance PLC has set a remarkable new record in the Non-Bank Financial Institution (NBFI) sector, reporting an outstanding Profit After Tax (PAT) of Rs. 25 billion for the financial year ending 31 March 2025. This represents a significant leap from Rs. 21.5 billion in the previous year, reflecting strong double-digit profit growth.
This historic achievement reaffirms LOLC Finance’s emergence as a major force, transcending traditional boundaries between banks and non-bank financial institutions. With its innovative strategies focused on financial inclusion, digital innovation, and sector leadership, the company continues to pioneer new paths in the national economic landscape.
LOLC Finance boasts a robust loan portfolio exceeding Rs. 305 billion and a deposit base of Rs. 225 billion. Its Net Non-Performing Loan (NPL) ratio improved dramatically to 4.97% from 10.48% a year earlier, underscoring its financial resilience. This growth mirrors the brand’s strong customer loyalty and pivotal role in channeling financial resources to critical sectors including SMEs, microfinance, agriculture, Islamic finance, personal loans, gold-backed credit, and vehicle financing.
Following the successful consolidation of four leading NBFIs, LOLC Finance has crafted a unique financial model that bridges gaps in conventional banking, delivering scalable financial solutions. It has also become the largest credit card issuer among NBFIs in Sri Lanka, with a market share exceeding 20% in assets, liabilities, and profits.
According to Director/CEO Krishan Thilakaratne, these results highlight LOLC Finance’s resilience, vision, and commitment to serving Sri Lanka. “Our operational strength and customer reach, with over 200 branches islandwide, allow us to deliver tailored financial solutions. Our focus on digitalisation and inclusion sets us apart as a key player in Sri Lanka’s financial future,” he noted.
Chairman Conrad Dias added, “This milestone demonstrates our dedication to financial inclusion, innovation, and disciplined growth. We’re not just following trends – we’re setting them. Our purpose-driven, technology-powered journey is reshaping the financial landscape and advancing Sri Lanka’s broader economic goals.”
With award-winning platforms like LOLC Real Time and iPay, LOLC Finance leads the digital transformation in the sector. iPay, the country’s leading pass-through wallet, has earned six consecutive Overall Gold Awards at the LankaPay Technovation Awards. The company is also pushing towards a paperless, AI-integrated future to deliver smarter, more inclusive financial services.
Bolstered by an (SL) A Positive rating from Lanka Rating Agency (LRA), LOLC Finance’s commitment to capital adequacy, governance, and liquidity positions it as a resilient, innovative, and forward-looking institution ready to lead Sri Lanka’s financial landscape.
