Business
LOLC listed among the LMD Hall of Fame
LOLC has been listed amongst the LMD ‘Hall of Fame’ of the Most Respected Entities for 2021. The award was recently presented to LOLC Group Managing Director/CEO, Kapila Jayawardena by Hiran Hewavisenti, Editor-In-Chief of LMD. The globally diversified financial conglomerate took the first place in the LMD 100’s profitability ranking. LOLC secured this position based on another year of stellar financial performance.
The 17th annual edition of the LMD Most Respected, ranks the nation’s most admired corporations. The LMD Most Respected entities in Sri Lanka is commissioned and conceptualised by LMD, and conducted by NielsenIQ. This year’s Most Respected special edition continued with the revised methodology from 2019 for ranking entities whereby NielsenIQ’s exclusive survey for LMD to gauge peer perceptions employed a weighted ranking system.
Laying claim to being Sri Lanka’s most valuable globally diversified financial conglomerate, the LOLC Group posted a record-breaking performance for the 2020/21 financial year, achieving a colossal Rs. 57 billion in profit before taxes. This feat is the first for any corporate in Sri Lanka, achieved amidst a challenging economic environment.
Commenting about the achievement, LOLC Group Managing Director/CEO, Kapila Jayawardena said, “LOLC has strategically diversified into different industries and across borders, targeting and penetrating new and growing markets, and that has provided us a unique competitive edge. The most vital pillar for us is our strong operational backbone. Further, LOLC has always been conscious of its reputation, and strives to maintain an impeccable record. That is why within a span of just 10 years, LOLC has become a global leader in microfinance, and we take pride in it because no other organisation matches our footprint in this sphere”.
Having established a high performance microfinance business model, LOLC rapidly exported its expertise to global markets such as Cambodia, Myanmar, Indonesia, Philippines, Pakistan, Zambia, Nigeria, Malawi, Tajikistan and Tanzania, bringing prosperity to people at the bottom of the pyramid. In addition, the Group has established its footprint in the Maldives, Mauritius and Sierra Leone in the arena of Non-Financial Services. Over the years, the Group has been backed strongly by Development Finance Institutions and multilateral funding lines, which reflects the confidence these global entities place in the Group’s sustainable operations. Sustainability is embedded in the Group’s ethos and embodied in its transparent, fair, equitable and beneficial products and services that are uplifting the lives and livelihoods of people, giving them hope for a brighter tomorrow. The LOLC Group is on an accelerated growth trajectory and is inspired by the quest to nurture and shape the future of individuals and communities across the world. (end)
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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