LB Finance to set up subsidiary in Philippines

Monday, 15 December 2025 00:21 - - {{hitsCtrl.values.hits}}

LB Finance PLC has decided to establish a wholly owned subsidiary in the Republic of Philippines, under the name ‘LB Finance Philippines Inc.,’ with an initial investment of $ 650,000 to engage in the provision of financial services.

The company in a filing to the Colombo Stock Exchange also said the move has been approved by the Central Bank of Sri Lanka.

LB Finance said a further announcement will be made upon completion of the incorporation and obtaining the necessary licences for the commencement of operations of the said subsidiary.

A subsidiary of Vallibel One PLC, LB Finance assets were worth Rs. 307 billion as at 30 September 2025 and retained earnings worth Rs. 44 billion.

With a track record spanning 54 years in the Sri Lankan financial services sector, LB Finance PLC is rated among the top-tier Non-Banking Financial Institutions (NBFIs).