• LOLC Development Finance - About Us

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  • LOLC Development Finance - About Us

    About LOLC Development Finance

    LOLC Development Finance PLC, formally known as BRAC Lanka Finance PLC was established in 2004 with a view to uplift the livelihoods of the lowest segment of micro lending of Sri Lanka – a segment which is otherwise overlooked by the formal financial sector. LOLC Development Finance PLC is renowned as Sri Lanka’s microfinance company with the highest level of female participation. The company has now expanded its portfolio from micro loans to include individual customised solutions such as SME loans, home improvement loans, leasing to fixed deposits.

  • LOLC Development Finance - About Us

    About LOLC

    LOLC Development Finance is a subsidiary of the LOLC Group, a leading and vastly diversified conglomerate with global presence. Today, the LOLC Group’s portfolio covers a wide spectrum, from financial services to leisure, plantations, trading and manufacturing, renewable energy and other strategic investments. Whilst becoming a household name in the local financial industry, LOLC has also successfully expanded beyond Sri Lanka and is positively impacting the lives of thousands of People across many Asian and African nations. With its expansive footprint, LOLC has fully established itself as a strong regional financial conglomerate and the Group is poised to be a global financial catalyst with a multi-currency, multi geographic microfinance and SME platform in the future.

  • VISION STATEMENT

    To be a customer centric, innovative and broad-based financial solutions partner.

  • Mission statement

    • Operate and expand aggressively efficiently and profitably, with special focus on the Micro, Small and Medium Enterprise segment.
    • Develop & offer high Quality innovative products and services
    • Seek and grow business and markets with significant potential growth.
    • Make products easily accessible to the target consumer by investing in distribution channels
    • Contribute to the quality of line in our communities
    • Setup the “best-in-the-breed” operational platform to support growth aspirations.
    • Offer a challenging and rewarding work environment that provides opportunities for growth
    • Transform the company into a trusted household financial brand
    • LOLC Development Finance
      Mr. W. D. K. Jayawardena
      (Non- Executive Chairman)

      Mr. Kapila Jayawardena holds a MBA in Financial Management and is a fellow member of the Institute of Bankers and an Associate Member of the Institute of Cost and Executive Accountants, London. He served as Country Head and CEO (Sri Lanka and Maldives) of Citibank NA from 1998 to 2007. 

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      Mr. Kapila Jayawardena holds a MBA in Financial Management and is a fellow member of the Institute of Bankers and an Associate Member of the Institute of Cost and Executive Accountants, London. He served as Country Head and CEO (Sri Lanka and Maldives) of Citibank NA from 1998 to 2007. 

      With his varied experience in the fields of Investment Banking, Banking Operations, Audit, Relationship Management, Corporate Finance, Corporate Banking and Treasury Management, Mr. Jayawardena served in the following Boards/Committees: 

      ⦁ Chairman of the Sri Lanka Banks’ Association (SLBA) in 2003/04.
      ⦁ President of the American Chamber of Commerce in Sri Lanka in 2006/2007.
      ⦁ Member of the Financial Sector Reforms Committee (FSRC).
      ⦁ Member of the National Council of Economic Development (NCED).
      ⦁ Board Member of the United States - Sri Lanka Fulbright Commission.

      Mr. Jayawardena joined LOLC in the year 2007 as the Group Managing Director/ CEO and is the Chairman/Director of the following companies and is also on the Boards of the subsidiaries of the LOLC Group. 

      Chairman 
      ⦁ Eden Hotel Lanka PLC.
      ⦁ LOLC General Insurance Ltd.
      ⦁ LOLC Securities Limited.
      ⦁ Palm Garden Hotels PLC.

      Director 
      ⦁ Eden Hotel Lanka PLC.
      ⦁ LOLC Development Finance PLC.
      ⦁ Brown & Company PLC.
      ⦁ Riverina Resorts (Private) Limited.
      ⦁ LOLC International (Private) Limited.
      ⦁ Browns Investments PLC.
      ⦁ LOLC Advanced Technologies (Private) Limited.
      ⦁ LOLC Asia (Private) Limited.
      ⦁ LOLC Private Limited.
      ⦁ Ceylon Graphene Technologies (Private) Limited.
      ⦁ LOLC Africa Holdings (Private) Limited.

      LOLC Development Finance
    • LOLC Development Finance
      Mr. W. A. R. Kumara
      (Executive Director/CEO)

      Mr. Rohana Kumara joined the LOLC Group in 1998 and since then he has held several positions within the LOLC Group. During the course of his career, he has obtained extensive experience in the fields of credit, operations, deposit mobilization, marketing, branch management and micro finance. He served as the Chief Operating Officer of LOLC Micro Credit Ltd for two years.

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      Mr. Rohana Kumara joined the LOLC Group in 1998 and since then he has held several positions within the LOLC Group. During the course of his career, he has obtained extensive experience in the fields of credit, operations, deposit mobilization, marketing, branch management and micro finance. He served as the Chief Operating Officer of LOLC Micro Credit Ltd for two years.

      In addition to his present responsibilities, he is also a Director at LOLC Management Indonesia/ PT Sarana Sumut Ventura (SSV) and Pak-Oman Microfinance Bank in Pakistan.

      Mr. Kumara holds a MBA from Cardiff Metropolitan University UK, is a member of the Chartered Institute of Marketing (UK) and holds a diploma in Banking and Finance from the Institute of Bankers of Sri Lanka.

      LOLC Development Finance
    • Mr. A. J. L. Peiris
      Mr. A. J. L. Peiris
      (Senior Independent Director)

      Mr. Luxman Peiris retired as Additional Director of the Central Bank of Sri Lanka (“CBSL”). His career at the CBSL spanned 25 years, during which he worked in several different departments in the CBSL, including Economic Research, Management Development Centre, Governor’s Office (Chief Protocol Officer), Domestic Operations and Payments and Settlements.

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      Mr. Luxman Peiris retired as Additional Director of the Central Bank of Sri Lanka (“CBSL”). His career at the CBSL spanned 25 years, during which he worked in several different departments in the CBSL, including Economic Research, Management Development Centre, Governor’s Office (Chief Protocol Officer), Domestic Operations and Payments and Settlements.

      Mr. Peiris holds a BSc (Physical Science) with a First-Class honour from the University of Kelaniya, Sri Lanka an MSc and a Postgraduate Diploma in Agricultural Economics from the University of Reading, UK and an MSc and a Postgraduate Diploma in Quantitative Development Economics from the University of Warwick, UK.

      Mr. Peiris served as the Vice President of the Clearing Association of Bankers (CAB). He was also the Co-ordinator – CBSL SEACEN Financial Statistics. He is a member of the Sri Lanka Economic Association. He served in the Sri Lanka Army Volunteer Force attached to the 2nd Sri Lanka Army Service Corps as a Commissioned Officer too.

      LOLC Development Finance
    • LOLC Development Finance
      Mr. THAMOTHARAMPILLAI SANAKAN
      (Independent Non-Executive Director)

      He counts for over 20 years of experience at top management level in multiple industries such as Financial Services, Trading, Manufacturing, Healthcare and Consumer. 

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      He counts for over 20 years of experience at top management level in multiple industries such as Financial Services, Trading, Manufacturing, Healthcare and Consumer. Presently he serves as the Group Chief Financial Officer of the Browns Group of Companies and he was involved in directing Browns business lines for profitability, growth and sustainability through strategic finance directives. He was directly involved in setting up LOLC Securities Ltd., which deals with capital markets. He previously held the position of Chief Operating Officer at LOLC Securities Ltd. and served as a Rule setting committee member at the Securities and Exchange Commission of Sri Lanka.

      He excels in the areas of change management, new business start-ups, business process re-engineering, project management and strategic business management. He also serves on the boards of Associated Battery Manufacturers (Ceylon) Limited, Browns Pharmaceuticals Limited, Browns Pharma Limited, Browns Health Care Negombo (Pvt) Ltd, Browns Leisure (Pvt) Ltd, Snowcem Products Lanka (Pvt) Ltd and Klevenberg (Pvt) Ltd. He is an Associate Member of Chartered Institute of Management Accountants of UK and Chartered Global Management Accountants of USA.

      LOLC Development Finance
    • LOLC Development Finance
      Mr. Sunil Lankathilake
      (Non Executive Independent Director)

      Mr. Sunil Lankathilake is a former Deputy Governor of the Central Bank Sri Lanka. He holds MSc degree in Economics and a Postgraduate Diploma in Economics from the University of Manchester, United Kingdom and a B.Com degree with 1st Class honours from the University of Peradeniya.

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      Mr. Sunil Lankathilake is a former Deputy Governor of the Central Bank Sri Lanka. He holds MSc degree in Economics and a Postgraduate Diploma in Economics from the University of Manchester, United Kingdom and a B.Com degree with 1st Class honours from the University of Peradeniya. He also holds M.Phil degree in Agricultural Economics from Post Graduate Institute of Agriculture, University of Peradeniya.

      Mr. Lankathilake has more than 32 years of experience in the CBSL in the areas of Economic and Price Stability, Financial System Stability and Agency Functions. Prior to joining the Central Bank in 1986, he has worked as an Assistant Lecturer at the University of Peradeniya.

      During his 32 year career in the CBSL, Mr. Lankathilake has participated in large number of international training programmes conducted by reputed training providers such as IMF, World Bank, ADB, University of Cambridge etc. in the areas of Macroeconomic Management, Macroeconomic Modelling, Financial Programming, Trade Policies, Competitiveness, Project Management, Foreign Investment, Strategic Planning and Management, Human Resource Management and Communication Policy. Mr. Lankathilake has also served as a member of the Board of Directors of Sri Lanka Export Credit Insurance Corporation, Board of Management of the Title Insurance Fund of Registrar General's Department, National Labour Advisory Committee, and several other committees representing the CBSL. Mr. Lankathilake has also represented CBSL in several government missions and negotiating teams especially in the areas of banking relationships, investment promotion and economic and technical corporations. Mr. Lankathilake has authored many articles and published them in reputed international and local journals and CBSL publications particularly in the areas of economic issues, small-scale industries, international trade, gem industry, apparel industry etc.

      Mr. Lankathilake is a reputed resource person in the areas of project management, project appraisal, macro and microeconomics at various fora in different capacities. Mr. Lankathilake has also conducted a large number of presentations at various seminars and conferences on the broader topic of the Economy.

      LOLC Development Finance