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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka's LB Finance get nod for Myanmar unit

Sri Lanka's LB Finance get nod for Myanmar unit

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Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Sri Lanka's LB Finance Plc, a publicly traded licensed non-bank lender said it will set up a 99 percent unit in Myanmar.

LB Microfinance Myanmar Company Limited had been issued a license to operate in the Bago region, the firm said in a stock exchange filing.

LB Microfinance Myanmar is a 99 percent owned unit. 

The company plans to start operations before March 31, 2018, the firm said.

prasa2004


Manager - Equity Analytics
Manager - Equity Analytics
LOLC balance sheet hugely improved from their micro finance Cos in Cambodia (also in PK lately). The rate charged in those countries are very high. So initially BS will show good interest income and in subsequent years (after 4-5) if not managed properly NPL will rise. So watch out for LB as it may follow journey like LOLC in year 2018/19 and hopefully may reach 200 by end 2018

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