Business
LOLC Finance named ‘The Finance Company for Credit Cards’ at Next 100 Global Awards 2021
The Next 100 Global Companies to watch, highlights some of the most exciting, innovative, and promising businesses from around the world. At the 2021 Next 100 Global Awards, LOLC Finance was named the Finance Company for Credit Cards.
The Next 100 Global Companies list recognizes companies at the forefront whose strategies, achievements, dedication, and leadership of those who demonstrate outstanding achievement and are committed to delivering the products clients need and the results clients want, act as a catalyst for the industry.
A wide range of criteria has been used for the selection of these companies worldwide, including leadership and team experience, quality and track record, industry footprint – regional / global, social contribution and economic impact, level of expertise, growth rate, technological advantages, customer response and engagement, disruptiveness of the solution in its respective markets and impact on their respective industry.
Taking Sri Lanka’s largest segment on a journey towards a cashless world, LOLC Finance – Sri Lanka’s largest Non-Banking Financial Institution (NBFI) launched its Credit Card operations in late 2018. Launched in partnership with MasterCard™, the main aim of the Card proposition was to enhance the value added services offered to existing customers. LOLC Finance has issued eight types of cards catering to diverse customer segments and needs. A significant, 70,000 cards have been issued at the end of three years, since the first series of cards were issued, despite unprecedented systematic shocks the industry encountered.
In early 2021, LOLC Finance introduced a new Credit Card named, SAVI which is exclusively designed to the Pensioners and State sector employees across Sri Lanka. The card was introduced as a part of LOLC Finance’s overall digitisation strategy, which is in line with the Central Bank’s ‘2020 – Year of Digital Transactions’ plan, to promote and create awareness on digital payments throughout the country. SAVI was awarded the “best new credit card in Sri Lanka for 2021” by the Global Banking and Finance Review.
Speaking about the global recognition, Hasala Thilakaratne, Head of SME and Consumer Business of LOLC Finance PLC said, “Despite the challenging operating environment which was experienced throughout 2020 and 2021, the Credit Cards unit successfully achieved a portfolio of over Rs. 2.2 bn. One of the key factors for this impressive performance was the continued investment and drive towards introducing new products and upgrading the existing credit card features and investing in digital technologies, to be ahead of the curve. The introduction of continuous value additions and customer benefits played a major role in winning such global recognition and I believe that we are on the right track as our customer centric approach is reason behind our success”.
Chief Manager, Business Development of LOLC Finance Credit Cards, Senal Tharanga added, “First and foremost, I am extremely thankful for our staff for their dedication and hard work, despite the many setbacks and challenges we experienced amidst a global pandemic. An online credit card application was launched for customers to apply for a credit card even during travel restrictions, purely as an online application or through a QR scan. In keeping with our customer-oriented approach, cardholders were given an extension on payments and granted fee waivers based on individual needs across the country, depending on which areas were most affected by the pandemic.
LOLC Finance is the country’s largest NBFI with the largest Fixed Deposit and Savings Deposit base among the Registered Finance Companies of Sri Lanka.
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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