LOLC Group Managing Director/CEO Kapila Jayawardena (third from right) with the Sri Lanka’s Most Admired Companies Award presented to him by Prime Minister Ranil Wickremesinghe
Sri Lanka’s multi-geographic, multicurrency and multicultural financial conglomerate LOLC Holdings Plc was named among the top 10 Most Admired Companies in Sri Lanka.
The award ceremony, which was organised for the second consecutive year by the International Chamber of Commerce Sri Lanka (ICCSL) and the Chartered Institute of Management Accountants (CIMA) to celebrate the best performing companies in the country, was held under the patronage of Prime Minister Ranil Wickremesinghe.
Sri Lanka’s Most Admired Companies Awards recognises and celebrates companies that are a cut above the rest in terms of not just financial performance but also the value they create for their shareholders, customers, employees and the wider community in general.
Sri Lanka’s Most Admired Companies Awards follows a stringent, globally-accepted judging process based on both qualitative and quantitative criteria.
Some of the main quantitative criteria were financial soundness, earnings growth and long-term investment value creation whilst the qualitative assessment comprised quality of management, developing and retaining talent, fostering teamwork, environmental and social responsibility, business ethics, track record and competitiveness amongst other qualities.
The companies bestowed with the rankings are those that inspire other organisations and entrepreneurs and have proven their mettle with consistency, authority and sustainable growth.
Commenting on the win, LOLC Group Managing Director/CEO Kapila Jayawardena said: “The secret behind LOLC’s optimum performances has been its agility, passion and versatility, which sprouts from the grassroots level to the uppermost level within the group. LOLC also believes in great partnerships that make it stand out from the rest. This accolade reflects not only the impressive financial performance of the resilient LOLC Group but also mirrors our commitment to society at large. We credit LOLC’s success to our customers, shareholders and the talented and passionate employees in Sri Lanka and across the region.”
The LOLC Group has recorded steady and impressive financial results over the years. It has been able to strategically increase its regional presence and partnerships across Cambodia, Myanmar, Pakistan, Indonesia and the Philippines, ensuring steady performances, resilience and financial stability.
Through its internationally acclaimed microfinance model, LOLC has been able to build a secure future for many underserved communities through pro-poor market-based solutions. The company is making a difference in the Micro, Small and Medium Enterprises (MSME) landscape by deploying best practices in customer protection, customer experience, risk management and the application of digital technology.
LOLC spurs emerging and frontier economies by igniting industrialisation and modernisation, increasing female participation in the workforce, improving productivity and alleviating poverty. This is just some of the unprecedented social stewardship created by the LOLC Group through its diversified SME and micro investments in the region.