Thirty-four years ago, a company with a very good eye for the future and the facility of reading the times with accuracy opened its doors to provide what was then Sri Lanka’s pioneer portfolio of leasing solutions to an eager market. This company was Lanka ORIX Leasing Company (LOLC).
From the onset, LOLC’s prowess within the financial services sphere helped the Company identify a lacuna in the industry – the lack of financial solutions reaching grassroot level entrepreneurs and individuals. As its business unfolded and evolved, LOLC by means of a carefully-tailored portfolio of products and services, financially empowered the masses and the SME sector to such an extent that they reached whole new levels of financial stability and well-being.
Over the intervening years, this bold and dynamic approach has enabled LOLC to grow its business beyond the field of leasing and into many other areas within the financial services realm. Our aim then was to become one of Sri Lanka’s premier total financial solutions providers.
LOLC soon became the LOLC Group as it established group companies specialised in offering financial services beyond leasing, such as factoring, savings and deposits, tailored financial products for the SME sector, microfinance, Islamic financing and foreign currency deposits. Leveraging the synergies from its diversified portfolio, LOLC began to offer services such as fleet management, information technology and vehicle-related services. Ushering in insurance and stock broking in the portfolio this year, it is the largest non-banking financial institution in the country and well positioned for the next step along its growth trajectory. With the cessation of the thirty-year terrorist conflict in 2009, Sri Lanka has embarked on a journey of rapid growth and development. The trickle down effects of a national economy no longer burdened by war expenditure has jumpstarted this process.
LOLC took a strategic decision to align new business development with the emerging areas of growth and development in Sri Lanka and this has seen the Group move into areas such as Agriculture, Leisure, Construction and Renewable Energy whilst continuing to grow its existing portfolio.
This growth and diversification has led to the moulding of the LOLC Conglomerate. LOLC is transforming itself into a Holding Company, whilst leveraging the expertise of its Group Companies to handle the hands-on management of its sector interests.
Today, LOLC is one of Sri Lanka’s truly sustainable business conglomerates. What has not changed or diminished however are the qualities of dynamism, agility, passion and that unique ability to open up opportunities for all. One of LOLC’s core deliverables across all businesses is empowerment. From budding entrepreneurs to top corporates, our business has always been about delivering products and services that enhance and advance lives and livelihoods; about making dreams come true and fulfilling long-held aspirations; about empowering people.