Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.

Thank You

Join the forum, it's quick and easy

Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.

Thank You
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

Click Link to get instant AI answers to all business queries.
Click Link to find latest Economic Outlook of Sri Lanka
Click Link to view latest Research and Analysis of the key Sectors and Industries of Sri Lanka
Worried about Paying Taxes? Click Link to find answers to all your Tax related matters
Do you have a legal issues? Find instant answers to all Sri Lanka Legal queries. Click Link
Latest images

Latest topics

» කොළඹ කොටස් වෙළඳපොල විශ්ලේෂණය - 2024
by ChooBoy Fri Jul 19, 2024 11:53 am

» Winds of Change: Sri Lanka's Banking Crisis is Stalling Renewable Energy Ambitions of Local Stalwarts of Wind & Solar Power
by God Father Wed Jul 17, 2024 10:11 pm

» Banking Sector Analysis
by God Father Sat Jul 13, 2024 7:57 am

» Impact of Elections on Colombo Stock Market Sentiment
by Quibit Tue Jul 09, 2024 9:01 am

» LankaBIZ Unveils AI-Driven On-Demand Financial Research and Analysis Service
by Quibit Thu Jul 04, 2024 12:49 pm

» CDB Non voting
by Nandun Sun Jun 30, 2024 9:45 pm

» The Parsi Power Play: How a Small Community of Iranian Parsis are Controling Sri Lanka's US $ 85 billion Economy & 22 Million Population & Politics driving away FDIs
by MalakaDesmond Sun Jun 30, 2024 10:19 am

» Richard Pieris Group: Mismanaged?
by Walbaba Sat Jun 29, 2024 7:04 pm

» සොෆ්ට්ලොජික් හෝල්ඩිංග්ස් පීඑල්සී: අඳුරු අපේක්ෂාවන් සහිත ඉහළ අවදානම් ආයෝජනයක්
by D.G.Dayaratne Tue Jun 25, 2024 5:45 am

» සොෆ්ට්ලොජික් ප්‍රාග්ධනයට වන්දි ගෙවන Share BuyBack නිසා Softlogic ජීවිත රක්‍ෂණය බංකොලොත් වීමේ අවදානමක
by MalakaDesmond Tue Jun 25, 2024 1:49 am

» Softlogic Life insurance face Danger of Bankruptcy due to Share BuyBack that compensate Softlogic Capital
by MalakaDesmond Tue Jun 25, 2024 1:33 am

» Softlogic Holdings PLC: A High-Risk Investment with Bleak Prospects
by MalakaDesmond Tue Jun 25, 2024 12:52 am

by SL-INVESTOR Sat Jun 22, 2024 12:48 am

by ErangaDS Wed Jun 19, 2024 9:21 pm

» How will proposed Tax Reforms affect Sri Lankans in 2025
by Quibit Wed Jun 19, 2024 9:27 am

» Falsified accounts and financial misrepresentation at Arpico Insurance PLC (AINS)
by ChooBoy Tue Jun 18, 2024 11:31 pm

» Impact of IMF reforms to Sri Lanka Economy
by D.G.Dayaratne Mon Jun 17, 2024 6:36 pm

» Richard Pieris Finance Ltd continue to endanger the Depositors with negative performance
by ddindika Mon Jun 17, 2024 3:17 pm

» Richard Pieris Exports reports 97% decline in Net Profits
by Biggy Sat Jun 15, 2024 11:26 am

» Do your own Stock Market Research using AI Tools
by Quibit Fri Jun 14, 2024 10:50 am

» What will happen tomorrow?
by cheetah Thu Jun 13, 2024 12:07 pm

» Focus on Government controlled entities
by ErangaDS Mon Jun 10, 2024 4:15 pm

» Colombo Stock Market: Over Valued against USD!
by God Father Mon Jun 03, 2024 3:17 pm


Submit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


Send your suggestions and comments

* - required fields






You are not connected. Please login or register

LOLC global expansion strategy eyes former Soviet states

Go down  Message [Page 1 of 1]



LOLC global expansion strategy eyes former Soviet states 1622507808211?e=1626912000&v=beta&t=QIZUh8CeQ6F5vkhvWZjOf1LcTqsDtTAc7fCPfSu_w7k

By Duruthu Edirimuni Chandrasekera
View(s): 1799

With the South Asian, and African markets under its belt, the LOLC Group – Sri Lanka’s most profitable conglomerate – has set its sights on investments in the former Soviet states, officials said.
“We are exploring opportunities in the financial space in countries like Uzbekistan, Armenia, Azerbaijan, Kazakhstan, Kyrgyzstan, Moldova, Turkmenistan, Tajikistan etc.,” an official told the Business Times on Wednesday. He said that the economic growth in most of these nations is linked to the growth of medium, small and micro enterprises (MSMEs) in three important sectors of the economy – trade and services, transportation, and agriculture. Increased awareness of the underestimated role of MSMEs in the production of agricultural exports may contribute to the revitalisation of agricultural growth within the context of limited natural and financial resources, he said.
LOLC’s financial services footprint now stretches across Cambodia, Myanmar – the two countries it initially forayed into while Pakistan, Philippines, Indonesia, Nigeria, and Zambia were within the past four years.
In 2017, LOLC ventured into Pakistan by investing in Pak Oman Microfinance Bank (POMB), a joint venture with the Islamic Republic of Pakistan and the Sultanate of Oman, into Indonesia in 2018, acquiring the controlling interest in PT Sarana Sumut Ventura (SSV), and a year later invested in the Philippines through LOLC ASKI Finance and LOLC Bank Philippines – a thrift bank. Last year it made its first finance sector investment in the African region by acquiring a controlling stake of FinaTrust Microfinance Bank in Nigeria – a West African nation while starting operations in Zambia by incorporating LOLC Finance Zambia as a greenfield operation – which operates through six branches.
The LOLC Group is easily the most successful at imprinting its mark on foreign soil and flying the Sri Lankan flag. They bought into PRASAC, the Cambodian microfinance firm in 2007 with an 18 per cent stake at the invitation of FMO the Nederland Government’s Development Finance Company, Belgian Investment Company for Developing Countries, and Dragon Capital. In less than a decade the company raised the holding by 52 percent. Then in a US$ 603 million deal in April, LOLC Group sold 70 per cent of PRASAC, the largest micro-finance company in Cambodia to Kookmin Bank.
Their global expansion strategy for the financial services sector in Africa remains a key focus, with plans being made for expanding into more markets, the official added.
LOLC Cambodia is the fourth-largest microfinance institution in terms of portfolio size. LOLC Myanmar is the fourth-largest microfinance institution among 174 market players in the country in just over five years of operation. LOLC Indonesia has grown to 20 branches in the regions of Java and Sumatra Islands.  LOLC Bank Philippines incorporated as Inte-Asia Development Bank(IADB) aims to serve the strategic objective of financial empowerment and inclusive social responsibility by empowering women and micro-entrepreneurs, with LOLC replicating its function as a catalyst in inclusive, sustainable development.

CHRONICLE™ likes this post

Share this post on: reddit

No Comment.

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum