Business
LOLC Finance crowned Sri Lanka’s No. 1 NBFI Brand
Secures Spot Among Top 15 Most Valuable Brands in 2025
LOLC Finance PLC has been ranked 14th overall, in the prestigious ‘Top 100 Most Valuable Brands of Sri Lanka’ and number one in the Non-Banking Financial Services (NBFI) sector list by Brand Finance, featured in the August Edition of Echelon Magazine. The brand valuation assessment revealed LOLC Finance achieved a brand rating of AA+, with a strong brand value of Rs. 11,528 Million. This honour not only reaffirms LOLC Finance’s position among the nation’s most elite brands but also establishes its undisputed dominance in the Non-Banking Financial Institution sector, securing the top spot with a commanding lead over competitors in the overall rankings.
Brand Finance’s annual Sri Lanka Top 100 Most Valuable Brands study is among the country’s most stringent and comprehensive brand valuation assessments, evaluating brands on their financial performance, stability, market recognition, credibility, and consumer trust, while benchmarking them against industry peers and global standards. For LOLC Finance, this recognition is more than a ranking: it is a testament to sustained market leadership, unmatched brand equity, and a proven record of delivering transformative value to customers and communities alike.
Commenting on the achievement, Krishan Thilakaratne, Chief Executive Officer of LOLC Finance, stated, “This recognition is a powerful endorsement of our position as Sri Lanka’s undisputed NBFI leader. LOLC Finance accounts for 20% of total industry assets, 25% of industry liabilities, and 36% of total profitability. Among the 35 players in the NBFI industry, LOLC Finance is the market leader in SME Finance, Personal Finance, Islamic Finance, Factoring, Agricultural Product Financing, and several other market segments in Sri Lanka.
Furthermore, our digital footprint is recognized as the largest in the Sri Lankan digital banking space, with our iPay platform handling over 60% of e-wallet transactions in the country. Our vision is to enhance financial inclusion in Sri Lanka by extending formal financial services to all segments of society. The Brand Finance ranking affirms what our customers, stakeholders, and partners already know: LOLC Finance is not just a financial services provider, and it is a force shaping the future of the NBFI sector in Sri Lanka.”
‘More than just transactions, we are focused on building strong relationships, shaping financial journeys, and cherishing shared ambitions,” stated Prasad Perera, Assistant General Manager, Marketing Communications, LOLC Finance PLC. “Our customers increasingly see us as their dedicated partner, advisor, and guide, helping them make life’s most important financial decisions with confidence. As a comprehensive one-stop solution for all financial needs across all walks of life, LOLC Finance leverages its strong brand equity for sustainable growth. Our short-term marketing strategies are powerfully leveraged by having such a solid brand, we fundamentally believe in and continuously invest in long-term brand building to ensure we achieve the optimal marketing mix. Our integrated communication campaigns consistently generate a positive Return on Investment (ROI) for the company, both in the short and long term. As we continue to grow, we will uphold these connections, solidifying our position as Sri Lanka’s most valuable financial services provider.”
With this latest listing, LOLC Finance will continue its commitment to financial excellence, customer-centric innovation, and long-term value creation. The prestige of being recognised as Sri Lanka’s Most Valuable NBFI, while simultaneously securing the 14th position among the nation’s elite Top 100 brands, stands as both a milestone and a motivator, propelling the brand to continue setting benchmarks in service, trust, and market leadership within Sri Lanka’s financial landscape.
Business
Rs 160 million + diesel discrepancy at Lakvijaya power plant prompts probe
By Ifham Nizam
A Rs.160 million-plus diesel discrepancy at the Lakvijaya power plant in Norochcholai has triggered an internal investigation, raising questions over the handling of public funds and the controls governing fuel purchased for electricity generation.
The discrepancy surfaced during an internal audit of diesel supplied to the plant from the Kolonnawa and Sapugaskanda fuel terminals, according to senior officials familiar with the inquiry.
The audit has identified five transactions—two in December 2025 and three in January 2026—in which diesel recorded as delivered to the plant allegedly could not be fully accounted for in its physical stocks.
The investigation is now examining whether these were isolated discrepancies or part of a longer-running practice.
One transaction under scrutiny relates to January 16, when records reportedly showed that 10 diesel bowsers had arrived at the plant. Investigators subsequently found indications that the fuel stock corresponded to only nine bowsers.
A storekeeper responsible for the relevant fuel operation has reportedly been temporarily removed from those duties pending the investigation.
A senior official said investigators were reviewing historical records amid indications that similar discrepancies may have occurred over a longer period. If established, the financial exposure could therefore exceed the Rs.160 million currently identified.
The investigation is comparing fuel-terminal dispatch records, tanker movements, plant-entry records, receiving documents and physical stocks to establish exactly how much fuel was dispatched, received and accounted for.
That audit trail will also be critical in determining who authorised, received and certified the disputed consignments, and whether established controls were followed.
Relevant documents were reportedly transferred from Norochcholai to the company’s Colombo head office on September 26 for further examination, with electricity-sector security personnel assisting in the transfer.
The internal audit has also reportedly uncovered expired chemical stocks worth several hundred thousand rupees in the plant’s stores. Investigators are examining whether further inventory-management irregularities occurred.
The matter was also reportedly taken to the Puttalam Police Special Crimes Investigation Unit on September 26.
When contacted by Puttalam-based journalist Hiran Priyankara Jayasinghe for The Island Financial Review, Lakvijaya Power Plant Manager Nalaka Kumara confirmed that an investigation was under way but declined to provide further details.
The financial issue is direct: if the plant paid for diesel it did not receive, public-sector funds were spent without the electricity sector receiving the corresponding fuel.
Business
Sri Lanka Food Processors Association holds 29th Annual General Meeting
The Sri Lanka Food Processors Association (SLFPA) successfully convened its 29th Annual General Meeting (AGM) on September 23, 2026, at the Water’s Edge Hotel, Battaramulla. Bringing together key industry stakeholders and member organizations, the event served as a platform to review milestone achievements from the 2025/2026 term and outline strategic priorities for the nation’s food and beverage processing sector.
At the AGM, the new Executive Committee for 2027/2028 was appointed, comprising: Honorary President Aruna Senanayake C.W. Mackie PLC Imme. Past President Thusith Wijesinghe Trans Continental Packaging & Commodities (Pvt) Ltd.
President Elect Nadishan Guruge Meadlee Trading Co. (Pvt) Ltd.
1st Vice President Damitha Perera Forbes & Walkers Commodity Brockers (Pvt) Ltd.
2nd Vice President Rasika Seneviratne Diesel & Motor Engineering PLC 3rd Vice President Deepal De Alwis Neochem International (Pvt) Ltd.
Honorary Secretary Amila Weerasinghe Nestle Lanka Limited.
Asst. SecretaryDineth Alahakoon Country Style Foods (Pvt) Ltd.
Honorary Treasurer Sameera Jayathilaka Westmann Engineering Company (Pvt) Ltd.
Asst. Treasurer Niroshan Dalpethado C D De Fonseka & Sons (Pvt) Limited. In addition to the above office bearers, the following ten Executive Committee Members were appointed:
Sanjeewa De Silva Unilever Sri Lanka Limited Sheran De Alwis MA’S Tropical Food Processing (Pvt) Limited
Thusitha Ekanayake Anods Cocoa (Pvt) Ltd.
Vijitha Govinna Plenty Foods (Pvt) Limited Ms. Praharshi Wickramasekara International Commodity Exports (Pvt) Ltd.
Sanjeewa Niroshan SGS Lanka (Pvt) Ltd. Kushan Amarasinghe Finagle Lanka (Pvt) Ltd.
Rangajeewa Hettiarrachchi Fonterra Brands Lanka (Pvt) Ltd.
Harindra Abeyrathna Vision Technologies International (Pvt) Ltd. Thilina Weerasekara Ceylon Cold Stores PLC
The event was proudly supported by key industry partners, with SGS Lanka (Pvt) Ltd serving as the Platinum Sponsor. Unilever Sri Lanka Ltd. and Nestlé Lanka Ltd. joined as Gold Sponsors, Ceylon Agro Industries – Prima as the Silver Sponsor, while Lanka Exhibition & Conference Services (LECS) and Hero Nature Products (Pvt) Ltd., supported as Bronze Sponsors.
The proceedings concluded with a vote of thanks delivered by Hony. Secretary Deepal De Alwis, followed by cocktails and a fellowship networking session, providing an opportunity for members to connect and strengthen industry ties.
Business
Uber brings the ‘business class of back seats’ to Sri Lanka with Uber Black
New premium ride option expands Uber’s portfolio from affordable Moto and Tuk rides to premium on-demand travel
Uber announced the launch of Uber Black in Sri Lanka, bringing its premium ride experience to the country for the first time. Designed as the “business class of back seats,” Uber Black combines premium vehicles and highly-rated drivers for riders looking for greater comfort, quality and a more elevated travel experience.
The launch comes as demand for premium products and experiences grows across Sri Lanka, with consumers seeking greater choice and quality in their everyday experiences. Uber Black brings this choice to on-demand mobility, whether for an airport journey, an important business meeting, a special occasion or simply when riders want to travel in greater comfort.
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