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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » LB Finance records 63% PAT growth

LB Finance records 63% PAT growth

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1LB Finance records 63% PAT growth Empty LB Finance records 63% PAT growth Mon Jul 06, 2015 9:28 am

Melissa Pereira


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
LB Finance PLC recorded a profit after tax of Rs. 2.1 billion compared to the Rs. 1.3 billion recorded in 2013/14, a substantial growth of 63%.
Net interest income rose by 39% to record Rs. 7.7 billion compared to the Rs. 5.5 billion recorded the previous year. The Total operating income grew to Rs. 8.8 billion compared to 6.5 billion achieved over the corresponding period of the previous year, a 36% increase.Total assets have reached Rs 67.5 billion compared Rs 60.8 billion in year 2014.

“This significant growth in profits once again reiterates the trust and faith the people of Sri Lanka have placed on us. The year under review 2014/15 was a significant year for us.

It was a year where the Company built on the momentum achieved during previous years and grew substantially,” said Adhihetty, Managing Director of LB Finance PLC.

“We have been strategically focusing on a particular aspect of our performance each year. These strategies have helped us overcome challenges, acquire customers and even more importantly retain them,”Adhihetty further said.
LB Finance PLC is a trail blazer in the financial services industry in Sri Lanka.
The Company was established in 1971 and through the years has built a strong reputation as one of Sri Lanka’s most trusted financial organisations. 
Courtesy: Daily News 6 July 2015

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