Over the past decade, LOLC Group released its year-end outcomes for March 31, 2019, recorded another powerful year for its stellar performance. With Rs.26.81Bn’s solid pre-tax profit (PBT), compared to Rs. 24.66Bn recorded in 2018, LOLC continues to outperform its own achievements.
As at 31 March 2019, the Group’s Profit After Tax (PAT) stood at Rs. 19.62 billion compared to Rs. 19.19 billion in 2018. The Group has been a catalyst in financial inclusion in Sri Lanka, well served by its distinctive strength in the country’s SME and microfinance industries. Excelling at the domestic level, LOLC has conducted a timely development into the region and has now established itself in the nations it works like a market leader in microfinance.
In addition to offering LOLC a diverse income stream with enhanced economic stability, regional expansion has also added resilience with a well-spread risk profile. It has, therefore, made the Group vulnerable to continuous development for local externalities.LOLC owns 70% of PRASAC, a firm that claims $2.6 billion in assets, $2.2 billion in the portfolio, $1.5 billion in deposits, and $103 million in PBT for the 12 months ending March 2019. LOLC Cambodia, Cambodia’s fourth-biggest MFI.