Our history stems from a Sri Lankan Government move to initiate a World Bank survey in 1980, which resulted in a proposal to establish a leasing industry in Sri Lanka. At that time, the International Finance Corporation (IFC), based on a study of the Bank of Ceylon (BOC), asked the bank to take the lead in setting up a leasing company together with Deshamanya C.P.de Silva as its first Chairman.

The IFC introduced the Orient Leasing Company (OLC) - presently ORIX Corporation of Japan, the world's largest independent leasing company. The result was the birth of LOLC.

Our first shareholders were OLC (30%), IFC (15%), BOC (10%), the National Development Bank (6.7%), the Development Finance Corporation of Ceylon (5%) and the balance equity was raised from the private sector by Deshamanya C.P.de Silva.

We were granted pioneering status by the Government, LOLC was incorporated on March 1980. Commercial operations commenced on January 1, 1981, providing leasing finance to entrepreneurs and commercial institutions, enabling them to acquire production plants, machinery and equipment. The initial paid-up capital was Rs 5 million, which was increased in January 1982 to Rs 24 million. Thereafter in February 1982 the capital was increased to Rs 30 million.

LOLC has since taken on the leadership in the leasing industry having earned a reputation of being a premier Blue-Chip company. Manned by a team of highly professional staff and a dedicated Board of Directors we have pioneered a number of financial instruments and devices that include: first bond issue guaranteed by a number of banks, first interest rate swap, first asset backed debenture, first zero coupon bond, first factoring venture and First securitization of leasing receivables. Read up on more LOLC Firsts !

With our pioneering spirit, we changed the mindset of business and worked to understand the needs of local businesses. Equally, our staff quickly absorbed the spirit of challenge and learning, a trait that still contributes to our continuing leadership.

Our experience and expertise gained over the many years of our existence has ensured that we not only react positively to customer requirements but also provide customized innovation, with a product portfolio that is suited not only to the business finance requirements of market segments but also to changing individual needs.