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LOLC retains the top spot in the LMD 100 as the Most Profitable Listed Entity, three years in a row

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Having recorded a whopping post-tax profit of Rs. 53 billion, LOLC retains the No. 1 spot in the 28th edition of the LMD 100 as Sri Lanka’s ‘Most Profitable Listed Company’ in 2020/21. LOLC, Sri Lanka’s most valuable and globally diversified financial conglomerate, shattered the corporate profit records in Sri Lanka for the 2020/21 financial year by achieving unprecedented bottom line results of Rs. 57Bn in Profit Before Tax (PBT). As a result of achieving profits on this massive scale in the history of Sri Lanka’s corporate world, the Group was able to consolidate its position as the topmost profitable diversified corporate in the country, three years in a row – carving out a name for LOLC as one of the largest Micro and Small & Medium Enterprises (MSME) platforms in the world.

Speaking about the achievement, LOLC Group Managing Director/CEO, Kapila Jayawardena said, “To become Sri Lanka’s Most Profitable Listed Company for three consecutive years is a result of our strategic diversification, into different industries and across borders. This was possible due to our strong operational capabilities that gives us a unique competitive advantage. That is why, we were able to steer through a pandemic with extended periods of a least favourable business climate. Despite the global economic downturn, multilateral and bilateral funding agencies have continued to work closely with us and this reflects the confidence placed in us and the growth potential that LOLC has exhibited throughout, even during the most turbulent of times.”

During the FY 2020/21, LOLC successfully infused a significant amount of foreign exchange into Sri Lanka’s economy through the 1st tranche divestment of PRASAC in Cambodia. It was the largest ever transaction recorded by a Sri Lankan entity. The Group also sustained its credit rating of ‘SL A’ amidst a year engulfed by the many challenges posed as a result of the pandemic. LOLC also did not retrench or enforce pay cuts on any of its employees locally or overseas even during these turbulent times. Moreover, the conglomerate continued its sustainability initiatives through its various corporate social responsibility (CSR) and green initiatives. For instance, 76% of the electricity consumed by the Group in Sri Lanka was generated by renewable energy sources minimising LOLC’s carbon footprint.



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Business

The Kingsbury, Colombo Appoints Nandana Wirasinha as GM

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The Kingsbury announced on Friday the appointment of Nandana Wirasinha as its new General Manager. This pivotal appointment heralds an exciting chapter in the hotel’s journey as it continues to redefine excellence and innovation in Sri Lanka’s luxury hospitality landscape.

Wirasinha brings with him nearly three decades of international hospitality experience, having held senior leadership roles with some of the world’s most esteemed hotel brands. His distinguished career spans all facets of hotel management, including operations, revenue strategy, guest engagement, culinary excellence and operational efficiency. Of particular note are his accomplishments at Jumeirah Hotels & Resorts in Dubai and Abu Dhabi, where he played a key role in delivering benchmark-setting service and guest satisfaction.

Renowned for his ability to build high-performing teams and drive sustained revenue growth, Wirasinha has a proven track record of elevating service standards across the board. During his tenure in the UAE, he led multiple award-winning restaurants in Abu Dhabi, four of which received the coveted Triple Black Hat status in the prestigious ‘What’s On Abu Dhabi Black Hat Guide’—widely considered the region’s equivalent of the Michelin Guide. His leadership has consistently translated into enhanced guest satisfaction, operational excellence, and outstanding business performance.

A committed lifelong learner, Wirasinha is an alumnus of Cornell University with a Certificate in Hotel Real Estate Investment and Asset Management. He also holds an Associate of Arts Degree in Tourism and Hospitality from The Emirates Academy, has completed the Cornell CXO Leadership Programme, and is currently pursuing a Master’s in Business Management at the Postgraduate Institute of Management, Sri Lanka.

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ComBank launches timely vehicle leasing promotion

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As new vehicles begin arriving in the country after a lapse of several years, the Commercial Bank of Ceylon has announced it will support the aspirations of vehicle buyers with an attractive leasing package for a limited duration.

The Bank said it would offer special interest rates, customized payment plans, discounts on first-year insurance premiums, a waiver of 50% on commission fees with a minimum charge of Rs 10,000 on Letters of Credit opened, and a free credit card with joining fee and the first year’s annual fee waived off, for leasing facilities obtained before 31st May 2025.

Quick and hassle-free approval of leasing facilities and special discounts on vehicle spare parts would also be part of the package for these customers, the Bank said. These special benefits would apply to leases of unregistered vehicles.

Commercial Bank offers one of the lowest rentals on vehicle leases, Rs 1,598 for every Rs 100,000 for a seven-year lease.

Commercial Bank leasing customers have the option of tailor-made leasing options that suit individual income patterns, via the Bank’s Super Leasing and Hybrid Leasing facilities.

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Sri Lankan F&B Exporters Participate in Toronto trade show

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More than 15 Sri Lankan food and beverage export companies participated in the SIAL Canada 2025 trade show held at Enercare Exhibition Centre, Toronto, from April 29 to May 1, the SL consulate in Toropnto said.

SIAL Canada is one of the major annual trade shows in the food and beverage sector in Canada, attracting over 1,000 exhibitors and brands from 44 countries, with more than 21,000 professionals from 77 countries in attendance, and representation from all Canadian provinces.

The Consul General visited the trade show and met with the representatives of Sri Lankan companies supporting their efforts to expand their business network with key supply chains and leading retail business entities in the Canadian market.

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