LOLC (Lanka Orix Leasing Company) Group, a Sri Lankan financial institution, has expanded its role as a specialized leasing operations company and has officially changed its brand name to a total financial solutions establishment, now offering customers financial solutions in working capital, fleet management services, savings and deposits, and insurance and stock broking, as well as various non-banking products.
The revamp included an acquisition of a 17.91% stake in PRASAC, a Cambodian Micro Finance institution. This investment supports the company strategy of contributing to the economic development of the Rural and Micro financing sectors, the core business areas identified for future expansion. Group strategy on supporting the SME (small and medium enterprise), Rural Agro and Micro sectors has attracted funding from local commercial banks, as well as bilateral and multilateral funding agencies, such as OPEC (Organization of the Petroleum Exporting Countries) and the Asian Development Bank, who join LOLC to develop the needy sectors of the economy.
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