Softlogic Finance cleared by Central Bank to restart business operations

Softlogic Finance PLC said yesterday that the Central Bank of Sri Lanka lifted the regulatory restrictions imposed on the non-bank lender, after it restored its capital position in line with the minimum requirements.

The company, in a disclosure to the Colombo Stock Exchange, said that it had fully complied with the core capital threshold under Finance Business Act Direction No. 2 of 2017 and the Central Bank’s Governing Board approved the removal of the restrictions, with effect from September 19. 

Softlogic Finance, a subsidiary of Softlogic Capital PLC, said the recovery was achieved through structured capital enhancement by its parent.

With regulatory clearance, the company will resume accepting deposits, reopen all distribution channels and roll out its growth plans to strengthen its position in the financial sector.