LCB Finance to Enter CSE Soon

CEYLON TODAY | Published: 2:05 AM Jul 24 2021
FT LCB Finance to Enter CSE Soon

The LCB Finance is preparing for the next milestone in their journey by listing its shares in Colombo Stock Exchange through an IPO. The company have already initiated and partly completed the listing process through its Advisors to the listing, NDB Investment Bank. Furthermore, the company has already appointed Law Firm, FJ & G de Saram as the Legal Advisors and Sampath Bank PLC as the Banker to the IPO.

 Lanka Credit & Business Finance Limited is a unique financial institution in that it was born out of a grassroot level which has spread its roots across the length and breadth of the island. 

LCB has been awarded ‘Fastest Growing Non-Banking Financial Firm in Sri Lanka 2021’ at the Global Economics Awards 2021 in UK. It is a unique financial institute committed to uplifting the standards of living for low income earners with its range of micro finance products.Also recognised as the Emerging Finance Company of the Year 2019”. The clientele of the company, among others, consists of farmers, fisherman, vendors and labourers and small business owners, making us truly a people’s development financial institution.

Over the past 3 years we have made of collective effort and a focus on overall betterment of communities. The signature of that trust is deeply ingrained in the business frame work of the firm. 

We cater to the needs of individuals across all categories of the economy, the overall logic of operations is strongly inspired by and flavoured with the idea that challenges are best met collectively and that such an approach adds value to individual effort. End of the Financial Year 31st March 2021, LCB Finance gained following financial Highlights. 

Core Capital Rs 2.16 billion, Profit (PBT) Rs 100 million, Operational Profit Rs 122 million, Total Assets Rs 3,672 million, Capital Adequacy ratio 58%, Credit Portfolio Rs 2.56 billion, ICRA Rating [SL] B+ Stable. The rating Committee of ICRA Lanka Ltd., after due consideration of the latest and rapid development in our company has been revised from [SL] billion stable outlook to [SL] + Stable.

CEYLON TODAY | Published: 2:05 AM Jul 24 2021

More News