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LB Finance 2015-16 first half profits soar by 54% to Rs.1.5bn

18 November 2015 06:30 pm - 0     - {{hitsCtrl.values.hits}}

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LB Finance PLC announced its first half performance for 2015/2016, affirming its continuous growth.  

Profit after tax was announced at Rs. 1.56 billion, a 54 percent rise over the previous six months’ figure of Rs. 1.02Billion. Net interest income swelled to Rs. 4.14 billion, a rise of 14 percent over the corresponding period’s Rs. 3.62Billion.

The total operating income rose to Rs.4.7 billion compared to Rs. 4.1 billion recorded earlier, marking an increase of 13 percent.  Total assets have reached Rs. 73.2 billion, compared Rs. 62.9 billion as at September 2014. 

“Rising public confidence is a manifestation of the strategies in place where the company responds to evolving needs of the people while continuing to be prudent financial stewards, keeping our products and services on the cutting-edge”, says Sumith Adhihetty, Managing Director of LB Finance PLC.  We have been placing a lot of emphasis on retaining our customers and that means helping them with total solutions through a personalized service that make them feel right at home in the world of finance, he said.

LB Finance PLC was established in 1971 and through the years has built a strong reputation as one of Sri Lanka’s most trusted financial organisations. With a total deposit base of over Rs. 47 billion, LB Finance is proud of the trust placed by the general public making the Company the largest non-banking deposit mobilizer in the country. 

The Company also offers a variety of other services including leasing, factoring, hire purchasing, micro finance, mortgage loans and gold loans.
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