8. Lanka Orix Leasing Company
Lanka Orix Leasing Company (LOLC) is at number eight in the Business Today TOP 30. LOLC is the largest non-banking financial institution in the country having first introduced leasing to Sri Lanka. However, the company has diversified beyond financial services to leisure, plantations, construction, manufacturing, agri inputs, renewable energy, trading, information technology and healthcare.
The financial portfolio consists of lending, savings, insurance, microfinance, Islamic finance, SME finance and working capital.
The total asset base of the Group reached 379 billion rupees, which was a growth of 55 per cent. The financial section contributed 82 per cent to the group's profits for the financial year. LOLC Finance recorded a growth of 48 per cent. Commercial leasing and finance received the largest foreign syndication loan. LOLC micro credit and BRAC Lanka Finance expanded their portfolios by 52 per cent and 160 per cent respectively.
In the non-financial sector, which encompasses Brown & Company and Browns Investment, the trading sector was the main contributor to the bottomline. Gal Oya Plantations maintained its growth with greater productivity in sugar cultivation. Browns Hospital completed its first year in operations. In the leisure sector, The Calm, Passekudah was included to the portfolio. Further plans are afoot to expand in the leisure sector.
With prudent strategic direction and investment, LOLC will need to be assertive as the economy starts to move and greater opportunities become available.