LB Finance enters Philippines market leveraging successful regional model

LB Finance PLC (LBF), a premier non-banking financial institution (NBFI) controlled by billionaire businessman Dhammika Perera, has announced a strategic expansion into the Philippines.

The company has received approval from the Central Bank of Sri Lanka to establish the wholly-owned subsidiary LB Finance Philippines Inc.

This move marks the next phase of LBF’s regional growth strategy, following the successful establishment and scaling of its operations in Myanmar. According to a corporate disclosure filed with the Colombo Stock Exchange, LBF will make an initial investment of US $ 650,000 to incorporate the Philippine subsidiary. The new entity will engage in providing financial services, subject to obtaining the necessary licences from the local authorities.

LB Finance’s entry into the Philippines builds upon a robust operational blueprint established in Myanmar. Since launching LB Microfinance Myanmar Company Limited in 2017, the company has grown into a profitable and stable entity, despite the challenging market conditions.

The Myanmar subsidiary’s total assets crossed Rs.1.63 billion in the 2024/25 financial year. Its operations have expanded to 20 branches across four key regions—Bago, Magway, Ayeyarwady and Yangon. The unit currently serves a customer base of over 31,000, with a strong focus on financial inclusion, evidenced by the fact that over 95 percent of its clients are female entrepreneurs. 

Additionally, the loan portfolio in Myanmar expanded to Rs.1.50 billion in FY 2024/25, generating a profit after tax of Rs.52.17 million. This regional operation is supported by a dedicated workforce of 189 staff members, maintaining a commitment to local talent development. (NF)