LCB plans to expand overseas

Thursday, 31 January 2019 01:38 - - {{hitsCtrl.values.hits}}

Chairman Emeritus Professor W.M. Abeyrathne Bandara

CEO and Executive Director K.G. Leelananda

Lanka Credit & Business Finance Ltd. (LCB) will commence opening branches overseas and as the initial step they would plan to open a branch in Myanmar, said LCB CEO and founder Director K.G. Leelananda.He said that they have already identified a premise in Myanmar and would be mainly concentrating on micro credit and hope to open the branch as soon as possible.

“As we increase our financial standing we envisage becoming a listed company in the Colombo Securities Exchange with due approvals from the relevant regulatory and statutory authorities next year,” he noted.He added that they were able to manage their financial status in a healthy manner where the Central Bank had granted permission to open branches islandwide, with the next probably planned for Negombo.

After taking over the troubled City Finance, LCB opened its head office in Kohuwala followed by Rathgama and very recently Karapitiya. Leelananda said that this showed their capacity of running the business smoothly and promised to continue by safeguarding the entire customer base that has relied on them.