Lanka Rating Agency upgrades LOLC Finance to ‘A+ (Stable)’

Lanka Rating Agency (LRA) has awarded LOLC Finance PLC an A+ rating with a Stable Outlook, a significant step up from its previous ‘A (Positive Outlook)’ rating. 

As per LRA, this upgrade highlights LOLC Finance’s firm market leadership, robust fundamentals, and its ability to deliver sustainable growth despite a challenging economic environment.

LRA cited LOLC Finance’s commanding share of the NBFI sector accounting for over 36 percent of sector profits, 30 percent of industry equity and 20 percent of sector assets, its resilient capital base, and prudent risk management as key factors underpinning the A+ (Stable) assessment.

Commenting on the achievement, Chief Executive Officer Krishan Thilakaratne said, “This reflects not only our performance and current financial strength but also our vision and future business plans, together with our ESG focus and the quality of risk management, which have always been key. LOLC Finance continues to be the role model of the industry and strives to further invest in the digital transformation of Sri Lanka’s banking sector, enhance financial inclusion within the Sri Lankan population, uplift the entrepreneurial spirit, and drive product innovation.”