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LOLC Finance tops the ‘Most Valuable Consumer Brand’ in the financial services sector

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Krishan Thilakaratne- Director/ CEO of LOLC Finance PLC

LOLC Finance PLC, the premier Non-Banking Financial Institute (NBFI) in Sri Lanka, has demonstrated exceptional resilience and remarkable growth, a true testament to their resolute dedication and innovative strategies. Positioning impressively on the esteemed Brand Finance Index 2023, the institution has secured a prestigious fourth-ranking position among the nation’s top 10 Fastest Growing Brands, displaying an impressive 18% surge in brand expansion.

The narrative of LOLC Finance’s remarkable expansion owes itself to their proactive stance in furnishing pioneering financial solutions. Their earnest focus on customer-centricity, adaptability, and forward-looking strategies has been pivotal in propelling the ascent of their brand’s worth. This has consequently translated into noteworthy advancements across the entirety of the Brand Index score.

The numerical achievements underscore the profound success achieved by LOLC Finance. Boasting a robust brand valuation of 8.2 billion, the institution has realized a remarkable 18% surge from the preceding year’s 7 billion, culminating in an elevation of their overall brand rating from AA- to AA+. This accomplishment assumes even greater significance when considering the adversities faced by Sri Lankan brands in 2022, a period characterized by a substantial 16% contraction in the combined value of the top 100 brands featured in the ranking. Notably, LOLC Finance is also towering its position as the top most brand within the Financial Services Sector.

LOLC Finance’s stellar growth trajectory and unyielding resilience radiates within a challenging financial landscape, positioning them as a frontrunner in Sri Lanka’s financial services arena.

Their steadfast commitment to delivering resolute value and cultivating trust bears testimony to their positive influence on the nation’s economy. As they persist on their voyage of advancement, the future holds immense promise for LOLC Finance, firmly solidifying their role as a catalytic force within the corporate environment of Sri Lanka.

The Director/ CEO of LOLC Finance PLC, Mr. Krishan Thilakaratne, stated, “Our success story stands as an inspiring testament to the entire industry, showcasing our steadfast dedication to our customers’ needs, flexibility, and forward-thinking approach, especially, following the largest merger of an NBFI in the history of Sri Lankan corporates”.

He continued, “We believe our brand comes with complete substance and value that we bring to the consumer, industry, public and economy at large. The public confidence and industry stability which LOLC Finance brings to the NBFI arena is absolutely vital for the long term progress, evolution and sustainability of the entire industry. At present we are the most dynamic catalyst in the NBFI industry, creating financial inclusion and essential capital to critical productive sectors.”

Remarkable is the consistent trend of LOLC Finance garnering awards, a practice that endures across both local and global levels. Amplifying these achievements is their ambitious digital strategy, aimed at expanding and enriching the digital presence, in combination with their extensive network of 230 branches spanning in the island.

The company is also the largest SME Financier, Personnel and Micro Financier, Islamic Finance service provider, Factoring and Receivable provider and Agricultural Equipment Financier in the industry. LOLC Finance today is the most technologically advanced NBFI with its own home-grown lifestyle payment application ‘Ipay’, its own series of Credit Cards and its own Online and Mobile Banking Services. LOLC Finance also presents an entire range of Lending and Deposit products that an NBFI can offer to its customers.

By attaining a profit of LKR 15.4 Billion during the fiscal year 2022/23, LOLC Finance PLC has secured its position as the second most profitable privately owned financial institution in the nation. Additionally, it contributes to over 20% of the combined assets, liabilities, and equity within the Non-Bank Financial Institution (NBFI) sector.

Brand Finance Lanka, a renowned entity specializing in brand valuation and strategic insights, has just presented its 20th annual assessment of the top 100 most valuable brands in Sri Lanka. This annual review, orchestrated by Brand Finance Lanka, amalgamates tailored market research with publicly accessible financial information, resulting in an all-encompassing inspection of Sri Lanka’s brand landscape. The Brands Annual by LMD offers an sophisticated discussion of the approach and evaluation techniques employed for both product and service brands showcased within the index.



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Climate compliance pressure mounts on Lankan businesses

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Lankan businesses are facing increasing pressure to strengthen climate governance, compliance, and risk management frameworks as climate-related disclosure requirements, investor expectations, and regulatory standards continue to evolve.

Against this backdrop, Genesis – the Dilmah Centre for a Sustainable Future will host a specialised post-summit technical workshop titled “Climate Action: A Strategic Executive Workshop on Climate Resilience and Business Continuity” on June 12, in Colombo.

The programme is designed as a continuation of discussions initiated at the Sri Lanka Climate Summit 2026 and will bring together sustainability managers, compliance officers, ESG professionals, risk specialists, and corporate decision-makers. It aims to translate climate commitments into practical business strategies.

The workshop will focus on implementation rather than advocacy, examining emerging disclosure frameworks, financing mechanisms, and regulatory pathways shaping corporate climate action in Sri Lanka.

Keynote speaker Dr. Lalanath de Silva, an internationally recognised environmental lawyer and governance expert, will address the evolving legal and compliance landscape influencing climate-related business decisions.

Technical sessions will cover IFRS S2 climate-related disclosures, climate risk governance, green finance opportunities, internal carbon pricing, and access to climate financing. Speakers will include climate risk specialist Rohan Cooray, Shiranee Yasaratne of Biodiversity Sri Lanka, and Suganthi Samarasinghe of UNDP Sri Lanka.

Organisers said climate readiness is increasingly becoming a business necessity rather than a sustainability option, with growing scrutiny from global markets and regulators.

Participation is free of charge, but prior registration is required due to limited seating for professionals in sustainability, governance, compliance, and risk management roles.

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SPAR Sri Lanka Opens New Outlet in Kurunegala

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SPAR Sri Lanka has expanded its retail network with the opening of a new outlet in Kurunegala, marking another milestone in the supermarket chain’s growth across the country.

The new store, strategically located to serve the growing population of the North Western Province, offers a wide range of products, including fresh fruits and vegetables, premium meat products, bakery items, household essentials and both local and international brands.

The outlet also features several specialty sections, including a Coconut Corner, Wellness Corner and a dedicated area catering to pet care products.

Speaking at the opening, SPAR Sri Lanka Chief Executive Officer Kumar de Silva said the new outlet reflects the company’s commitment to delivering a “glocal” shopping experience by combining international retail standards with local customer preferences.

“Our Kurunegala outlet reflects our dedication to providing customers with the best range, superior quality and exceptional service under one roof,” he said.

The store also offers SPAR’s signature fresh food concepts, including in-store bakery products, ready-to-eat meals and freshly prepared juices aimed at meeting the needs of busy consumers.

The company said customers will benefit from a range of promotional offers, loyalty rewards, weekend deals and seasonal discounts.

SPAR Sri Lanka said the expansion would also contribute to local economic development through employment generation and support for local suppliers, further strengthening the country’s retail sector.

Pic and Text by SK Samaranayake

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Royal end title drought with dramatic shootout triumph

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The victorious Royal College Under-20 hockey team pose with the championship trophy after emerging unbeaten champions of the All Island Under-20 Hockey Tournament at the Rajarata University Grounds in Mihintale. Front row (left to right): Ronal Edirimanne, Sulaiman Shihar, Gunitha Dissanayake, Dilsara Prabath, Kumuthulu Goonathilake, Savain Karunasiri, Vidu Wijesinghe, Seth Pathirathne, Pasindu Epa and Hirun Lindula. Back row (left to right): Stefan Anthonypillai, Geesath Bathisa, Haazim Dhailamy, Teacher-in-Charge Uditha Kumara, Coach Damith Panditharatne, Captain Aathif Faleel, Kithmina Rathnayake, Vice Captain Lithum Karunasiri, Nehan Wijayanayake, Yusuf Shihar, Ruvi Perera and Rumal Jayasinghe.

Royal College, Colombo, emerged unbeaten champions of the All-Island Under-20 Hockey Tournament after defeating defending champions St. Thomas’ College, Matale, in a nail-biting sudden-death penalty shootout at the Rajarata University Grounds in Mihintale last week.

The final ended in a 1-1 draw after Royal equalised five minutes from time to cancel out the Matale side’s earlier lead.

With the penalty shootout also ending in a 4-4 deadlock, the match proceeded to sudden death. The Reid Avenue outfit eventually prevailed in the second round of sudden-death penalties to clinch the title.

A brilliant save by goalkeeper Stefan Anthonipillai, who stretched to his right to deny a crucial attempt, and the decisive conversion by Rumal Jayasinghe helped Royal secure the Under-20 championship for the first time since the tournament’s inception in 2014.

Royal’s centre-forward Savain Karunasiri was one of the team’s standout performers throughout the tournament, scoring crucial goals, including strikes in both the semi-final and the final. Anthonipillai was equally impressive, guarding the goal superbly throughout the seven-match campaign.

Royal finished runners-up when the tournament was held in Matale last year.

The Colombo school produced a series of consistent performances despite having to play on an uneven grass surface that was not ideally suited to the fast-paced modern game.

Royal began their campaign with a 2-0 victory over Christ Church College, Matale, before defeating arch-rivals St. Thomas’ College, Mount Lavinia, 1-0. They then beat Kingswood College, Kandy, 2-0 and Maris Stella College, Negombo, 2-1 to top their group.

In the quarter-final, coach Damith Panditharatne’s side overcame fancied Dharmadutha College, Badulla, by 2-0.

Royal then edged out St. Joseph Vaz College, Wennappuwa, 1-0 in the semi-final, adopting a disciplined defensive approach against the aggressively attacking Puttalam outfit.

In the other semi-final, St. Thomas’ College, Matale defeated Trinity College, Kandy, 3-1. St. Joseph Vaz later beat Trinity 1-0 in the third-place playoff.

Panditharatne’s five-year development programme, with a strong emphasis on fitness, stamina and technical skills, played a key role in Royal’s success. The title marked Royal’s first national Under-20 tournament triumph since winning the National Schools Games in 2017.

A former national player, Air Force striker and Sri Lanka Police coach, Panditharatne has focused on addressing the weaknesses of individual players while building a cohesive unit. The former Christ Church College, Matale player has been coaching Royal since 2022 with the support of the Royal College Hockey Club (RCHC), comprising former Royal hockey players.

For his outstanding performances, Anthonipillai was adjudged the Best Goalkeeper of the Tournament. Royal College was also named the Most Disciplined Team of the Tournament.

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