Berendina Micro Investments Company Limited, better known as BMIC among its microfinance clients and partners, won the Silver award at the 56th Annual Report Awards organised by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), under the category of Finance Companies and Leasing Companies (total assets up to Rs. 20 billion).
Over 70 companies, ranging from conglomerates, multinationals to non-profit organisations, and SMEs, were honoured at this year’s competition for their excellence in financial reporting.
The event was held at the BMICH. Being the first Microfinance Company licensed by the Central Bank of Sri Lanka, BMIC is no stranger to this annual competition having won a Gold Award in 2017 and Merit Award in 2018.
The award from CA Sri Lanka is the fourth award to be won by BMIC during the financial year 2021, having won three international awards - ‘The Best Microfinance Company in Sri Lanka’ and ‘The Best Agricultural Lending Company in Sri Lanka’ awards from the UK based Global Banking and Finance Review magazine as well as ‘Donor’s Choice Award’ at the international competition conducted by SCALE Green Creative Adaptation Awards in USA in 2021.Focused on poverty alleviation, BMIC as a Microfinance Institution (MFI) extends micro-credit facilities and enterprise development services that ensure long term sustainability and growth of business ventures of its clients, providing loans at the lowest interest rate compared to other MFIs in Sri Lanka.
BMIC manages a loan portfolio of over Rs. 3.1 billion and an annual turnover exceeding Rs. 900 million.
It supports over 70,000 microfinance clients through its 30 branches in 11 districts. The CA award bestowed on BMIC is another testament to its commitment in continuously supporting its clients to overcome the obstacles during difficult times, while preserving its transparency in reporting, corporate governance, sustainability and social responsibility.