LOLC Finance Ltd. has exited its 40% stake in Commercial Insurance Brokers Ltd. (CIBL) for Rs. 333 million. CIBL, a joint venture originally formed by Commercial Bank, Chemanex, and LOLC, acquired the stake from LOLC Finance. Commercial Bank holds the remaining 60% of the company.
For the fiscal year ending 31 December 2024, CIBL reported a post-tax profit of Rs. 45.192 million, a slight increase from Rs. 43.8 million in 2023. The company’s total assets grew to Rs. 834 million from Rs. 815 million.