The non-bank financial institution (NBFI) sector in Sri Lanka has experienced a rapid growth.
The NBFI sector has recorded a robust growth during the past few years and is expected to position NBFI business operations to support the anticipated high growth momentum in the economy, the Central Bank said.
According to the Central Bank, registered financial companies have increased to 47and there are 13 leasing companies.
Four new financial companies have registered last year. In addition, four special leasing companies have become registered financial companies while 206 branches have also been added to this network last year. Out of that, 155 branches have been set up outside the Western Province.
Branches of the non-bank financial institutes that are operating in the Northern and Eastern provinces have increased by 19 and 18 percent respectively.