LOLC Finance PLC is a non-banking financial company based in Sri Lanka. LOLC Holdings is the ultimate parent company of LOLC Finance. The company was founded as LOLC Finance Company Limited in 2001. In 2003, the company changed its name to Lanka ORIX Finance Company and commenced operations. Lanka ORIX Finance Company became a public company in 2011 with its listing on the Colombo Stock Exchange. The company adopted its current name in 2015.
LOLC Finance is one of the LMD 100 companies in Sri Lanka. LOLC Finance has been a constituent of the S&P Sri Lanka 20 Index since the end of 2021. LOLC Finance merged with its sister company, Commercial Leasing & Finance PLC in 2022. The merger resulted in LOLC Finance becoming the largest non-banking financial company in the country.
History
The company was incorporated in 2001 as LOLC Finance Company Limited.[2] LOLC Finance Company obtained a licence from the Central Bank of Sri Lanka as a finance company in the following year. The company changed its name to Lanka Orix Finance Company Limited and commenced operations in 2003. The company launched its Shariah-compliant banking unit LOLC Al-Falaah in 2008.[3]