LB Finance enters historic Tissa

Monday, 4 July 2011 00:00 - - {{hitsCtrl.values.hits}}

Financial giant LB Finance continues its islandwide expansion strategy, opening its doors in historic Tissamaharama last week. The 40 year-old company is now loudly hailed as the capital harbinger of the industry, launching a variety of exciting new services during the past year as well as opening branches as far afield as Jaffna and Vavuniya.

Modern Tissa is one of the most pleasant towns in the south and boasts a bustling main street lined with banks, shops and little cafes and kiosks. Its cluster of dagobas and two beautiful tanks lend Tissa a certain distinction as well as a sense of history and, as a refreshing breeze from the large reservoir swept through the town, a steady procession of three-wheelers meandered its way along its streets to greet the reception committee led by LB Finance Managing Director Sumith Adhihetty.

The atmosphere was convivial and Adhihetty certainly had a lot to smile about. After all, financial powerhouse LB Finance marked its 40th year in the financial services industry with a resounding Rs. 1.02 b net profit after tax for the year ended 31 March 2011, a spectacular 104% increase on the previous year’s Rs. 500.16 m.

“At the moment we are driving forward with our main strategy which is to aggressively expand our reach within the island,” said Adhihetty. “So my team and I are delighted to be present at the opening of our latest branch here in beautiful Tissa.”

Amongst its myriad of financial services, LB Finance is particularly renowned for its revolutionary leasing packages and recently launched LB Finance Factoring, the first within the market sector to introduce a dedicated factoring unit.

LB Finance operates through a highly-integrated network of branches offering cutting-edge solutions through services such as fixed deposits, leasing, hire purchase, microfinance, inland money transfer, gold loans, factoring and other credit facilities.