News & market updates

LOLC Finance's alternate financial services unit, LOLC Al-Falaah, was honoured as 'NBFI of the Decade' at IFFSA 2025 and won multiple awards including Gold for NBFI of the Year and Bronze for Digital Product/FinTech.

Sri Lanka's forex inflows were US$2,337m in September (down from US$2,521m in August) while imports rose to US$2,048m, leaving a US$289m surplus. Vehicle and fuel import increases drove the shift and analysts warn fiscal-buffer use or liquidity injections could erode reserves and pressure the rupee and rates.

Colombo bourse closed lower as the ASPI fell 0.15% to 22,804.84 amid foreign net selling of Rs.893 million and turnover of about Rs.5.6bn; the S&P SL20 rose 0.18%. Capital goods and materials led activity with notable stock moves including Aitken Spence (-Rs.1), Hayleys (-Rs.0.75) and John Keells (+Rs.0.40).

ASPI closed up 0.27% (62.41 pts) to 22,839.53 as HNW-led buying and large crossings in ATL, JKH and DOCK supported the recovery. Turnover was Rs.7.78bn with a net foreign outflow of Rs.857m; capital goods, insurance and retailing led activity.

Colombo market closed marginally up as the ASPI rose 0.26% to 22,850.95 on Rs. 9.2bn turnover, led by gains in Hayleys, Bairaha, Colombo Dockyard, Royal Ceramics, LAUGFS Gas and Dipped Products while DFCC, HNB, Commercial Bank and JKH declined; foreigners were net buyers (Rs. 13.8m).

LOLC Finance’s Al-Falaah unit relaunched an upgraded international Visa debit card featuring EMV chip security, dual-interface contact/contactless functionality, dual-network ATM access and zero joining/annual/ATM/hidden fees. The card aims to expand digital payments and financial inclusion with real-time alerts and merchant discounts.

LOLC Finance PLC was upgraded to an A+ (Stable) rating by Lanka Rating Agency. LRA cited market leadership and strong metrics — ~Rs.430bn assets (~20.5% of industry), PAT Rs.25.1bn (+16.4%), CAR 25.9%, gross NPL 7.3%, and improved core spread to 11.6%.

L B Finance PLC appointed microfinance specialist Ravi Tissera as an Executive Director. He is founder CEO of LOLC Microcredit, ex-CEO of Early Dawn Microfinance (Myanmar) and has previously held board roles at HNB Finance and Seylan Bank.

The ASPI closed at 21,599, rising 0.36% (78 points) on the day and finishing the week up 2.4% (S&P SL20 up 1.9% for the week). Turnover was Rs.6.02bn yesterday (week avg daily Rs.7.11bn); capital goods led turnover and top contributors included Hemas, Melstacorp, Commercial Bank, CIC, Gran, Sunshine, Kelani Cables and John Keells.

LOLC sold part of its stake in Digital Mobility Solutions Lanka (PickMe) while foreign fund Tundra increased buying; PickMe dominated turnover with Rs.1 billion on 23.4 million shares and closed at Rs.132.75 (up Rs.0.50). Several other listed names saw notable turnover and mixed price moves.

Daraz Sri Lanka launches its 9.9 Birthday Cart Sale (Sep 9–20) with discounts up to 85%, Rs.20m in vouchers and partner bank/card discounts up to 15% from Commercial Bank, Nations Trust Bank AmEx, Sampath Bank and LOLC Finance.

LOLC Finance PLC will raise Rs.20 billion via a listed debenture issue of up to 200 million rated, unsecured, senior, redeemable debentures; the issue has been approved by the Central Bank.

Hayleys PLC (HAYL.N0000) won the Standard Chartered Cup 2025 and were awarded an all-inclusive trip to Liverpool to watch a live Premier League match. They defeated LOLC Finance PLC (LOFC.N0000) in the final, with the runners-up receiving signed Liverpool FC jerseys.

S&P SL20 crossed 6,000 for the first time, rising 58.46 points (0.97%) to close at 6,055.92; the ASPI also hit a record 20,571.07 (up 100.55 points, 0.49%) with turnover over Rs.10.8 billion.

Brown & Company PLC's Browns EV unit launched three affordable EV models in Sri Lanka with partners SAIC‑GM‑Wuling and Beijing Auto Works, including the BAW‑E7 priced at Rs.4.7 million. LOLC Holdings, LOLC Finance and Browns will provide financing, insurance, warranties and a planned nationwide charging network.

CRIB delivered 8.9 million credit reports in 2024 and reported 14.8 million active credit records, covering 81% of Sri Lanka's adult population. It secured clearances to allow MSMEs and the public to use movable assets as collateral and expanded digital data sources, including gold loans.

Ishara Nanayakkara, chairman of LOLC Holdings, has overtaken Dhammika Perera as Sri Lanka's richest person in 2025 with an estimated net worth of $1.6bn, Gulf News reports. LOLC is a diversified financial services and investment conglomerate with operations in microfinance and insurance.

LOLC Holdings' Ishara Nanayakkara was named Sri Lanka's richest person by Gulf-News with an estimated net worth of $1.6bn. The report noted LOLC is a diversified financial services and investment conglomerate with operations including microfinance and insurance.

Colombo stock market closed the week lower: the ASPI fell 0.4% to 19,827 and the S&P SL20 lost 1.2%, with yesterday's turnover at Rs.3.26 billion. Diversified Financials led turnover (23%) driven by Galle Face Capital Partners; John Keells, Hemas, Prime Lands and Lankem were also top contributors.

LOLC Finance PLC's Islamic finance unit LOLC Al-Falaah won five Gold awards at the 14th SLIBFI Awards 2025, including Islamic Financial Entity of the Year, NBFI of the Year and Window of the Year. The unit also won Best Digital Product (i-Pay) and a Social Upliftment award, underscoring its digital and inclusion efforts.

LOLC Finance (LOFC.N0000) has launched the LOLC Super Saver Account, offering a competitive tiered interest structure with a minimum opening deposit of Rs. 15,000. The product targets customers with informal or variable incomes and deposits are insured up to Rs. 1,100,000.

LOLC Finance PLC won the Gold Award (Data Submission Volume: 1,000,000 and Above) in the 'Data Management and Compliance' category at CRIB's CEO’s Forum and Institutional Rating Awards 2025, recognising its data volume, accuracy and compliance.

SLID, in partnership with Huawei Sri Lanka, hosted the CXO Forum 2025 in Colombo with over 100 banking and finance leaders to discuss leveraging AI, big data and cloud to de-risk and innovate. Panelists included Union Bank CEO Dilshan Rodrigo and LOLC Finance Chairman Conrad Dias, and the Central Bank governor outlined regulatory priorities for sustainable digital innovation.

LOLC Finance (LOFC.N0000) launched a Ran Savi Gold Loan quick top-up feature on the iPay app, enabling customers to top up gold loans, pay interest and check balances fully digitally.

Conrad Dias (Director, LOLC Holdings; Chairman, LOLC Finance) and other leaders at CIPM's HR conference said AI-driven digital transformation is essential, citing WEF data that digitally mature organisations deliver 45% higher revenue growth. Panelists highlighted benefits for plantations and urged AI governance and workforce upskilling.

ASPI fell 30 points to 17,997 as turnover hit Rs.7.63 billion, led by large crossings in LOLC Finance, L B Finance and Sampath Bank. Top turnover contributors included LOFC, JKH, Central Finance, Panasian Power and Sampath Bank, while foreign investors were net sellers of Rs.3.4bn.

Colombo market rebounded after a ceasefire between Israel and Iran, with the ASPI up 2.5% (426 pts) and turnover Rs.5.2bn. Banking stocks and conglomerates led gains, with JKH, COMB, PABC and CFIN among the top contributors.