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| Wednesday, 4 August 2004 |
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LOLC - further strengthened by new Chairperson Rohini Nanayakkara Mrs. Rohini Nanayakkara assumed duties yesterday as the new Chairperson of LOLC Mrs. Nanayakkara's spectacular career began in 1959 at the Bank of Ceylon. She served in many executive capacities including Deputy General Manager and Senior Manager in the many departments that make up a bank and was the automatic choice to represent the Bank of Ceylon on the Boards of several financial institutions, including National Development Bank and Development Finance Corporation of Ceylon. Her specialised training led her to two six-month stints abroad. The first being in the Overseas Trade Promotion Division of Midland Bank, London and later in the International Division of Bank Bruxelles Lambert in Belgium. Mrs. Nanayakkara was also a grantee under the International Visitor Program to America, which gave her the opportunity to explore banking norms there and has worked in tandem with high-profile Management Consultants like Booz Allen and Hamilton, New York. She was appointed Bank of Ceylon's first-ever woman General Manager in 1988 - the first woman to man this position in the Asian region. Administering a cadre of over 10,000, apart from 321 local branches and four overseas, Mrs. Nanayakkara is acknowledged as the force behind the standing Bank of Ceylon enjoys today. On retirement, she took up an appointment as General Manager/CEO to set up the Private Sector Infrastructure Development Company under the Ministry of Finance with World Bank assistance and then returned to banking- this time as CEO of Seylan Bank. This was another achievement as the first woman to head a private commercial bank. Mrs. Nanayakkara's unique abilities will no doubt add to LOLC's standing, not only as a blue-chip, but also as a total financial solutions provider in Sri Lanka's business world. Lanka Oris Leasing Company (LOLC) is the first leasing company to have subsidiaries in factoring, insurance brokerage, stock-broking, finance and IT - and more plans in the pipeline. LOLC has maintained a continuing upward trend in turnover and profits. In 2001, profits increased by 53% compared to the previous year. Every ensuing financial year has since turned out to be 'the best year todate'. Profits for the financial year ended March 31, '04 were Rs. 418 million - a growth of 64% as compared to the previous year. Today, market capitalisation has reached Rs.3.3 Billion - a 1,135% growth in 52 months. LOLC is a member of the ORIX Group of Japan - and here lies the core strength of the Company. |
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