Sept 10, 2014 (LBO) – Sri Lanka Commercial Leasing and Finance PLC, received a credit facility of 15 million US dollars, on a five year term period from Deutsche Investitions- und Entwicklungsgesellschaft (DEG) a German development financier to develop Small and Medium enterprise portfolio of the company, the company said in a media release.
Commercial Leasing and Finance PLC (CLC) is a member of the LOLC Group.
This is the second DEG credit facility for the LOLC Group. Previously, a Euro 7.5 million loan was made available to LOLC in 2007 to enhance the Company’s lending portfolio towards the SME Sector.
Furthermore, DEG extended its technical assistance to LOLC Group of Companies to develop their Treasury Risk Management system which enabled the Group to enhance mitigation measures.
DEG, a subsidiary of KfW, finances investments of private companies in developing and transition countries. As one of Europe’s largest development finance institutions, it promotes private business structures to contribute to sustainable economic growth and improved living conditions.
CLC has reported 1,288 million of profit before tax in the June quarter of 2014/2015.
The deposits were up to 7.5 billion rupees compared to three billion rupees in the previous year.
CLC has a strong investment grade rating of A- with a stable outlook from ICRA Lanka Limited which is a wholly owned subsidiary of ICRA Ltd, a group company of Moody’s Investors Service.
Commercial Leasing and Finance PLC (CLC) is a member of the LOLC Group.
This is the second DEG credit facility for the LOLC Group. Previously, a Euro 7.5 million loan was made available to LOLC in 2007 to enhance the Company’s lending portfolio towards the SME Sector.
Furthermore, DEG extended its technical assistance to LOLC Group of Companies to develop their Treasury Risk Management system which enabled the Group to enhance mitigation measures.
DEG, a subsidiary of KfW, finances investments of private companies in developing and transition countries. As one of Europe’s largest development finance institutions, it promotes private business structures to contribute to sustainable economic growth and improved living conditions.
CLC has reported 1,288 million of profit before tax in the June quarter of 2014/2015.
The deposits were up to 7.5 billion rupees compared to three billion rupees in the previous year.
CLC has a strong investment grade rating of A- with a stable outlook from ICRA Lanka Limited which is a wholly owned subsidiary of ICRA Ltd, a group company of Moody’s Investors Service.
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