There is an enormous vacuum within the financial market of Bangladesh, where people had a sophisticated perception of monetary institutions, and nobody was communicating to the layman and making that complex model user-friendly and understandable
Lankan Finance Alliance Limited (LAFL) created its own niche in entering the highly competitive Bangladesh financial services industry in 2018 to be the foremost innovative, dependable, & customer-friendly financial organization. Since its inception, LAFL has climbed up the ladder and reached the top of success, adding many features to its assets.
In 2021, LAFL took a great initiative in becoming a Participating Financial Institution of Investment Promotion and Financing Facility II (IPFF II) in its pathway to becoming different from many other peer companies. IPFF II is an initiative of the World Bank and Ministry of Finance in Bangladesh, which funds the sub-projects through the PFIs while supporting clients and facilitating funding for infrastructure projects providing low-cost financing options for much longer tenor than local financing options for high potential interest-rate-sensitive projects & clients. LAFL also entered into an agreement with the Public-Private Partnership Authority (PPP) to arrange private investors for the priority projects identified by the Government.
Further, Credit Rating Information and Services Limited (CRISL), Bangladesh, has upgraded rating of LAFL to A+ in Long-Term Credit Rating while Short Term Credit Rating remains an equivalent as ST-3 which indicated LAFL's strong capacity for timely servicing of monetary obligations, offering adequate safety to its all stakeholders.
Moreover, as a socially responsible organization, LAFL is playing its part in making Bangladesh a far better place for its future generation as a socially responsible business partner. LAFL made a donation to the Economics Study Center of the Department of Economics of the University of Dhaka for supporting the economic research among the university students to upgrade its research capabilities.
Besides, maintaining lower NPL (non-performing loan) is one of the most important challenges for any prospective financial institutes in our country. Since 2018, LAFL has maintained zero-NPL, thanks to its careful evaluation of credit proposals in growing the asset book which is far beyond the expectations in this spectrum. This operation excellence has given LAFL a foothold which resulted in tremendous growth which is clearly visible with Year-over-year Deposits Growth is 78%, and year-on-year loans & advance growth is 39% in 2021.
Additionally, the extraordinary success of the Lankan Alliance Finance Limited led to the signing of a participation agreement between Bangladesh Bank and Lankan Alliance Finance Limited for Technological Development Upgradation Fund and Sustainable Financing Scheme.
With a view to expanding into the structured debt products market to support large businesses, LAFL launched Structured Finance Department and hired the best talent from the market to ensure better and more innovative solutions for its valued clients.
