LB Finance Executive Director Niroshan Udage and the Marketing Team receiving the award
LB Finance PLC, a brand name synonymous with convenience, superior and friendly service, has won the Peoples award for Financial Service Provider of the Year awarded at the SLIM Nielsen Peoples Awards 2019.
With a trusted financial tradition spanning over 47 years, LB Finance has always striven to bring useful and convenient financial solutions to its customers. A popular brand name in the nonbanking financial services industry, LB Finance takes pride in having won this award as it shows the trust placed in the brand name by the Sri Lankan customer.
Organised as a joint venture between the Sri Lanka Institute of Marketing (SLIM) and Nielsen Sri Lanka (the national research body for marketing), the SLIM Nielsen Awards recognises exceptional service by and trustworthiness of Sri Lankan brands. The awards are unique because the judges are the Sri Lankan consumer, where males and females between the ages of 15 to 60 are asked to nominate and judge the brands in a nationwide quantitative face-to-face survey conducted over 5 months using a structured questionnaire.
The survey is conducted across the country covering all 25 districts and the expert interviewers from Nielsen visit selected houses in these districts. The houses are randomly selected to represent each street to be interviewed. Those who participate in the survey mention the brands and personalities they love in each of the categories.
The companies receiving the highest nominations are declared as winners. Thus, the awards are a true reflection of how the people perceive the brands, as there is no application process and the decisions are based on the results of the survey rather than a judging process involving a few people on a panel.
LB Finance was able to win the award for Financial Service Provider of the Year because it is the top-of-the-mind financial brand for Sri Lankan customers, due to the brand equity that has been built by its dedicated staff. At LB Finance, the customer benefits from a wide range of financial services, and receives the best service in the industry with the latest advanced technology, through its island-wide branch network, from staff members who truly care about the well-being of the customer. In addition, the concentrated communication efforts of the brand have proven effective in reaching the people, resulting in the brand being perceived as close to the people.
LB Finance Managing Director Sumith Adhihetty stated, “We at LB Finance are extremely proud that we won the SLIM Nielsen Award for Peoples Financial Service Provider of the Year. The awards are judged by the people of this country based on how they perceive a brand. It is a direct result of how the customer feels about the brand. Thus, it is the brand that is closest to the Sri Lankan hearts that wins the category. It shows us that we are providing the correct service to our customer and that we understand our customers’ needs. There cannot be a better recognition of our work than this award.”
LB Finance PLC is licensed by the Central Bank of Sri Lanka under the Finance Business Act No. 42 of 2011 and is listed on the Main Board of the Colombo Stock Exchange. The company offers a variety of financial services including leasing, factoring, hire purchasing, micro finance, mortgage loans, housing loans, education loans, gold loans, fixed deposits/savings accounts, currency exchange and Western Union Money Transfer services through an island-wide branch network and Gold Loan Centres, offering unparalleled convenience to all customers. LB Finance has an A- (lka) rating from Fitch Ratings Lanka Ltd. with a stable outlook.