Giants LOLC, COMBank partner to boost customer services

Lanka Orix Finance Company Ltd. – a member of the LOLC Group – and Commercial Bank signed a trailblazer agreement to install Commercial Bank’s ATM at identified branches of the LOLC Group.

This agreement was finalised at the Commercial Bank Head Office recently, with the Deputy Chairman of the LOLC Group Ishara Nananyakkara, LOLC Group’s Managing Director/CEO Kapila Jayawardena and Managing Director/CEO of Lanka Orix Finance Company Ltd. Brindely de Zylva representing Lanka Orix Finance Company Ltd.

Commercial Bank was represented by Amitha Gooneratna, its Managing Director, Sanath Bandaranayake, Deputy General Manager – Operations and Rohan Muttiah, Chief Information Officer, among others.

Commercial Bank has an ATM network of over 400 spread throughout the country. The new partnership, whilst giving the opportunity for all savings accounts holders of Lanka ORIX Finance Company to utilise the Commercial Bank ATM network for cash withdrawals, also helps to expand the Commercial Bank ATM network for greater ease of its cardholders.

Thereby, customers of both Lanka Orix Finance Company and Commercial Bank will have the added benefit of accessing the ATM network from any location island wide.

Since commencing commercial operations in June 2003, Lanka Orix Finance Company has created a niche for itself by becoming the fastest growing Registered Finance Company in the country which offers a range of financial services including foreign currency business such as worker remittances, and maintaining NRFC, RFC and SFIDA accounts.

Lanka Orix Finance Company is the only non-bank financial institution authorized to engage in foreign currency business. Over the years, the company’s product portfolio has grown tremendously to include savings accounts and fixed deposits, NRFC and RFC accounts, Islamic financial services, pawning services, etc. The company has gained a firm reputation for stability, strength and efficiency of service.  

Jayawardena said: “Savings account holders of Lanka Orix Finance Company will now have greater convenience through the new ATM network. We are looking at expanding our services further to offer our customers greater benefits.”

Gooneratne said: “With this new partnership, Commercial Bank will expand its ATM network further to provide its customers greater benefits. This will be of added convenience to our customers as the new ATMs will be installed in strategic locations throughout the country.”