Financial powerhouse LB Finance unveiled its second branch in the Jaffna Peninsula when it opened in Chunnamkam recently, signaling its intent to emerge as a key factor in the northern district’s re-development drive.
Chunnakkam, just 10km from Jaffna town has been known for its limestone and a hawkers’ street bringing in people by their thousands, making the street impassable on trading days. “We have been doing our homework and identified Chunnakkam as a base for development, says Sumith Adhihetty, Managing Director of LB Finance. A province in transition, the Jaffna district is home to many people now gradually re-settling to the formal economy and as a leading finance company, LB Finance has the advantage of a product spread more accessible to such people, he says.
The branch was declared open by the Senior Marketing Manager, Roshan Jayawardena. The expansion across the island is crucial especially during the current period of post-war recovery and growth. The North and East are about to take on a new boom in the country and this financial giant dominating such a city as Jaffna is fundamental.
LB finance has taken the industry by storm with its distinctive brand of financial services, recording phenomenal growth in spite of the recent financial meltdown. It operates through a highly-integrated network of branches offering cutting-edge solutions through services such as acceptance of fixed deposits, leasing, hire purchase, microfinance, inland money transfer, gold loans, factoring and other credit facilities.
With all its years of experience in the industry, LB Finance offers unmatched expertise in leasing, which is one of the company’s strongest domains. The company also recently launched LB Finance Factoring, becoming the first licensed finance company to introduce a dedicated factoring unit.