LOLC Finance
LOLC Finance is a Sri Lankan non-bank financial company and a subsidiary of LOLC Holdings.
Last updated August 26, 2026
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Overview
LOLC Finance PLC is a Sri Lankan non-bank financial company operating under the LOLC Group. The business was incorporated in 2001 as LOLC Finance Company Limited and obtained a finance-company licence from the Central Bank of Sri Lanka in the following year. It changed its name to Lanka ORIX Finance Company Limited in 2003 and began operations under that identity. The company later adopted the LOLC Finance name at the end of 2015, aligning the customer-facing brand more closely with its parent group. The company developed as a diversified finance institution rather than as a conventional commercial bank. Its activities have included consumer and business finance, leasing, microfinance-related services, and Shariah-compliant financial services through the LOLC Al-Falaah unit. Its product architecture has historically been associated with financing vehicles and other assets, personal and enterprise lending, deposit-taking and related financial products, subject to the licences and regulatory framework applicable in Sri Lanka. A significant early expansion was the launch of LOLC Al-Falaah in 2008, providing Shariah-compliant finance under a dedicated unit. Lanka ORIX Finance became a public company on 7 July 2011 when it was listed on the Colombo Stock Exchange. The listing followed the sale of part of the parent group's stake and gave the company a public-market profile within Sri Lanka's financial sector. The company was also affected by the Central Bank of Sri Lanka's financial-sector consolidation initiative announced in 2014. The LOLC Group sought to rationalise its portfolio of licensed finance businesses, including the proposed combination of Lanka ORIX Finance with LOLC Micro Credit. The merger with LOLC Micro Credit was completed in 2018. In 2015, the company joined LankaPay, Sri Lanka's electronic fund-transfer network, and changed its name from Lanka ORIX Finance to LOLC Finance. LOLC Finance expanded further through group consolidation. In January 2022 it merged with sister company Commercial Leasing & Finance PLC. Commercial Leasing & Finance had previously acquired and merged with Sinhaputhra Finance PLC. The transaction enlarged LOLC Finance's business and resulted in the company becoming the largest non-bank financial company in Sri Lanka, according to the cited reference material. A separate proposal for the amalgamation of LOLC Development Finance with LOLC Finance was approved by the relevant shareholders, further illustrating the group's strategy of concentrating its licensed financial-services operations. The company has received recognition in Sri Lankan corporate and capital-market rankings. It was included in the S&P Sri Lanka 20 Index at the year-end 2021 index rebalance and appeared in the LMD 100 ranking in 2023. Brand Finance's 2022 ranking also placed a value on the LOLC Finance brand. These rankings indicate the company's significance in Sri Lanka's listed non-bank financial-services market, although they do not by themselves describe its financial performance or future prospects. LOLC Finance remains a group financial-services brand focused on serving retail, small-business, commercial and other customers through a range of lending and related finance products.
History
LOLC Finance was incorporated in 2001 as LOLC Finance Company Limited. It received a finance-company licence from the Central Bank of Sri Lanka in 2002 and began operating in 2003 after changing its name to Lanka ORIX Finance Company Limited. The name reflected its connection with Lanka ORIX Leasing Company, the principal LOLC financial-services group at the time. In 2008, the company launched LOLC Al-Falaah, a unit dedicated to Shariah-compliant financial services. This broadened the business beyond conventional finance and created a specialised offering for customers seeking products structured according to Islamic-finance principles. The company became a public entity in 2011, listing on the Colombo Stock Exchange on 7 July. The listing followed the sale of 10 percent of the parent company's stake and placed the finance company within Sri Lanka's publicly traded corporate sector. The Central Bank of Sri Lanka introduced a financial-sector consolidation Master Plan in 2014. The policy encouraged larger non-bank financial companies to combine with smaller businesses and limited the LOLC Group's ability to maintain more than two A-category financial companies. In response, the group planned to combine Lanka ORIX Finance with its microfinance subsidiary, LOLC Micro Credit Limited. The merger was completed in 2018. The company joined LankaPay in 2015, connecting it to Sri Lanka's national electronic fund-transfer infrastructure. Later that year it changed its name to LOLC Finance, replacing the Lanka ORIX identity with a brand linked directly to the LOLC Group. The rebranding was part of a broader effort to consolidate the group's financial-services presence under a common name. LOLC Finance subsequently became involved in additional group consolidation. In January 2022 it merged with Commercial Leasing & Finance PLC. Before that transaction, Commercial Leasing & Finance had acquired and merged with Sinhaputhra Finance PLC. The combination increased LOLC Finance's scale and resulted in its being described as Sri Lanka's largest non-bank financial company. Shareholders of LOLC Development Finance, another group subsidiary, also approved a resolution for that company's amalgamation with LOLC Finance. The business has been visible in Sri Lankan corporate and market rankings. It was included in the S&P Sri Lanka 20 Index following the year-end 2021 rebalance and ranked in the LMD 100 list in 2023. Brand Finance included it in its 2022 brand rankings. These developments reflect its role as a significant listed finance-company brand, while its principal business remains the provision of non-bank financial services to retail, small-business and commercial customers in Sri Lanka.
- 2022
Merger with Commercial Leasing & Finance
[1]The company merged with sister company Commercial Leasing & Finance PLC, becoming the largest non-bank financial company in Sri Lanka according to the cited reference.
- 2021
S&P Sri Lanka 20 inclusion
[1]LOLC Finance became a constituent of the S&P Sri Lanka 20 Index at the year-end index rebalance.
- 2018
Merger with LOLC Micro Credit
[1]The planned combination with LOLC Micro Credit was completed as part of group and sector consolidation.
- 2015
LankaPay participation and rebranding
[1]The company joined LankaPay and later in the year adopted the LOLC Finance name.
- 2011
Colombo Stock Exchange listing
[1]Lanka ORIX Finance was listed on the Colombo Stock Exchange on 7 July.
- 2008
Launch of LOLC Al-Falaah
[1]The company launched LOLC Al-Falaah as its Shariah-compliant financial-services unit.
- 2003
Name change and commencement of operations
[1]The company became Lanka ORIX Finance Company Limited and commenced operations.
- 2002
Finance-company licence
[1]The company obtained a finance-company licence from the Central Bank of Sri Lanka.
- 2001
Incorporation as LOLC Finance Company Limited
[1]The company was incorporated in Sri Lanka under the name LOLC Finance Company Limited.
Products and positioning
A broad-based Sri Lankan non-bank financial-services provider combining leasing, lending, microfinance and Shariah-compliant finance under the LOLC Group.
Asset finance
Leasing and asset finance
Leasing and related asset-finance products form a core part of LOLC Finance's non-bank financial-services model. These products support the acquisition or use of vehicles and other financed assets by individuals and businesses. The company's expansion through the Commercial Leasing & Finance merger strengthened this area within the combined group.
Lending
Retail and business finance
The company provides lending and finance products for personal, small-business and commercial needs. The available reference material identifies LOLC Finance as a diversified finance company, but does not provide a complete current product catalogue or detailed terms for each lending product.
Shariah-compliant finance · 2008
LOLC Al-Falaah
LOLC Al-Falaah is the company's Shariah-compliant financial-services unit, launched in 2008. It extends the LOLC Finance proposition to customers seeking financing structured according to Islamic-finance principles.
Microfinance · 2018
Microfinance
Microfinance became part of LOLC Finance's consolidated business following the merger with LOLC Micro Credit in 2018. The reference material does not specify the current range, customer numbers or individual terms of these products.
Brand decisions
2022
Merger with Commercial Leasing & FinanceM&ABackground
The LOLC Group continued consolidating related finance companies. Commercial Leasing & Finance had previously combined with Sinhaputhra Finance.
Action taken
LOLC Finance merged with sister company Commercial Leasing & Finance PLC in January 2022.
Aftermath
The enlarged company became the largest non-bank financial company in Sri Lanka according to the cited reference.
2018
Merger with LOLC Micro CreditM&ABackground
The Central Bank of Sri Lanka's consolidation policy encouraged the LOLC Group to reduce overlap among its licensed finance businesses.
Action taken
LOLC Finance completed its planned merger with LOLC Micro Credit.
Aftermath
Microfinance operations were brought into the LOLC Finance structure.
2015
Adoption of the LOLC Finance brandStrategyBackground
The group was consolidating its financial-services businesses and the former Lanka ORIX identity was being brought closer to the LOLC corporate brand.
Action taken
Lanka ORIX Finance changed its name to LOLC Finance at the end of 2015.
Aftermath
The company continued operating as a listed LOLC Group finance company under the new name.
- Proposed amalgamation with LOLC Development FinanceM&A
Background
LOLC Development Finance was another financial-services subsidiary within the LOLC Group.
Action taken
Shareholders approved a resolution for the amalgamation of LOLC Development Finance with LOLC Finance.
Sources1 sources
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