Niroshan Udage appointed LB Finance MD from 1 July

Tuesday, 24 June 2025 03:43 - - {{hitsCtrl.values.hits}}

Niroshan Udage

LB Finance PLC yesterday announced the appointment of Niroshan Udage as the new Managing Director from 1 July 2025.

He will succeed longstanding and illustrious Managing Director Sumith Adhihetty, who will retire on 30 June and complete his term of office on 3 July. Adhihetty was appointed to the LB Finance Board way back in December 2003.

This leadership transition marks a significant milestone for LB Finance as it continues its journey toward innovation and sustainable growth.

Udage’s association with LB Finance began in 2004, when he joined as General Manager – Asset Finance. His dedication and strategic vision led to his appointment to the Board on 1 January 2007, and subsequently as Deputy Managing Director on 8 March 2021. Over the past two decades, he has played a pivotal role in transforming LB Finance into a dynamic and resilient leader in Sri Lanka’s financial services sector.

With 34 years of experience in the finance industry, Udage’s career includes a decade at LOLC PLC and three years at Mercantile Investments Ltd. before joining LB Finance. His expertise spans credit, finance, risk management, and innovation—areas that have significantly contributed to the company’s continued profitability and strength.

Udage holds a Bachelor’s Degree in Science from the University of Colombo. He has further enhanced his leadership capabilities through advanced training in Strategy and Management in Banking conducted by International Development Ireland Ltd. in Dublin and London. In 2012, he successfully completed the High Potentials Leadership Program at Harvard Business School, Boston, USA.

Beyond his roles at LB Finance, Udage also serves as a Non-Executive Director of LB Microfinance Myanmar Company Ltd., and is a Council Member of the Finance Houses Association of Sri Lanka (FHA). His previous appointments include serving as a Director of Hayleys Fibre PLC and the Credit Information Bureau of Sri Lanka (CRIB), Chairman of the FHA, and Member of the Financial System Stability Consultative Committee established by the Central Bank of Sri Lanka.

The Board of Directors expresses its full confidence in Udage’s leadership to steer LB Finance into its next phase of growth. His qualifications, experience, commitment, and strategic focus are expected to drive the company towards continued innovation, operational excellence, and enhanced stakeholder value.

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