LB Finance adds Thambuththegama to its expanding network

Thursday, 3 November 2011 00:00 - - {{hitsCtrl.values.hits}}

Financial powerhouse LB Finance recently brought in the choicest financial harvest to Thambuththegama, the agrarian township a few kilometres away from the Anuradhapura town.

The 40 year old giant brings with it the sheen of experience in the industry as well as a plethora of quality financial packages that will support the town’s burgeoning economic system.

LB Finance has been recording phenomenal figures, as its net profits rose by 94 per cent since last year, to hit Rs. 351 million at the end of the quarter ended June 2011.

Net interest income rose by 42 per cent between the period of June 2010 and June 2011, to Rs. 800 million, while the company’s asset base grew steadily from Rs. 28 billion last June to a sturdy Rs. 31 billion as at 30 June 2011. Non-performing loans and assets have been gradually streamlined, with Provision for Bad Debt and Devalued Investments falling by 44 per cent to Rs. 15 million over the passage of the year.

“LB Finance will bring our renowned portfolio of financial products to our latest Branch, as we have brought them to all our operations across Sri Lanka,” stated Managing Director of LB Finance Sumith Adihetty.

His claims are fully validated by the impressive portfolio boasted by the company. Headed by its three-pronged attack of leasing, hire purchase and fixed deposits, the company also has on offer a cutting-edge range of gold loan, microfinance, inland money transfer and factoring services, serving up credit facilities to meet across-the-board customer requirements both individual and corporate.

The opening in Thambuththegama comes on the back of a rigorous expansion strategy that has encompassed Wennappuwa, Elpitiya, Kotahena, Sea Street, Mathale, Mahiyangana, Nelliadi, Manipai, Kilinochchi and Chavakachcheri this year alone and extended the reaches of a vast network island wide.

Each branch specialises in bringing the high degree of benchmark customer service that LB Finance prides itself upon.

“Our customers are our chief reviewers and the increasing confidence they show in us is our most-valued testimony,” commented Adihetty. LB Finance offers its credit avenues to enable financial empowerment while also reaping the highest returns.