MARKET DIGEST

Lankan Alliance Finance had no NPL in 3 years

Staff Correspondent

19 February, 2021 12:00 AM printer

Lankan Alliance Finance Ltd said it has no record of non-performing loans (NPLs) during its three years of operation as a non-bank financial institution (NBFI) in the country.

Celebrating its 3rd anniversary, the company hosted a press conference at a hotel in Dhaka yesterday sharing its performance with journalists during the years.

Lankan Alliance Finance Ltd Chairman Jowher Rizvi and CEO Kanti Kumar Saha were present at the event.

Established in 2018, Lankan Alliance Finance is a joint venture NBFI with multinational collaboration, licensed by Bangladesh Bank.

The majority stakeholder of Lankan Alliance Finance is a subsidiary of Peoples’ Bank, the largest state-owned bank of Sri Lanka. The local sponsors include large corporates and individuals with impeccable record and proven goodwill such as Summit Holdings, Rangs Group, Alliance Holdings, Green Delta Insurance, Rabab Fashion and Concept Knitting.

“We are the only NBFI in Bangladesh with no record of NPLs since launching operation. We are happy with our performance,” Kanti Kumar Saha said. “As a non-bank financial institution, we are providing all kinds of services. Our services include auto loans, home loans,


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