Daily FT 2021-05-22
Daily FT 2021-05-22

At the Global Economics Awards 2021, Lanka Credit and Business inane Ltd. was the recipient of the ‘Fastest Growing Non-Banking financial Firm in Sri Lanka 2021’ award.
EO/Executive Director K.G. Leelananda stated that the immense guidance, proper directions and active participation were the driving orcs of the Board of Directors that led to the achievement of the said ward whilst considering its past financial statements as well, which also reflected all of the efforts that had been put forth in taking the company to greater heights. “This is still a journey and not a destination for the company.”
The Board of Directors, the corporate management and all staff members were able to maintain the profitability and liquidity of the company, enduring the impact of the COVID-19 pandemic whilst granting the debt moratorium and other relief measures to affected customers as per the circulars issued by the Central Bank of Sri Lanka, all of this contributed towards achieving this award.
Commenting on the historical back ground of the company he stated that in the year 2018 they acquired the sick City Finance Corporation Ltd., having changed its name to Lanka Credit and Business Finance Ltd. with the due approval of Central Bank of Sri Lanka, which was subject to among others to the repayment of the deposits of the acquired company which is now reaching the ending stage. After the acquisition of the license of City Finance Corporation, Lanka Credit and Business Finance is operating as a strong and a profitable venture.
Leelananda also stated that Lanka Credit and Business Finance won the ‘Emerging Finance Company of the Year’ Award at the fourth edition of the South Asian Business Awards — 2019.