Continuing its 47-year tradition of good financial management and sound decision making, LB Finance records Rs 6.8 billion operating profits before Tax in the first 9 months of the year (as at December 2018).
Sri Lanka’s no 1 non-banking financial service provider; LB Finance posted a 24.5% increase of Operating Profit before Tax on financial services to Rs 6.8 billion from the Rs 5.5 billion recorded in the same period in the previous year. A 21% increase of profit before taxes was also recorded, increasing to 5.5 billion from 4.5 billion from the same period last year. LB Finance’s total comprehensive income for the period is net of tax Rs 3.5 billion, a rise of 15.7% from Rs 3 billion posted in 2017.
In addition to the above, LB Finance’s records show a growth in gross earnings that is fueled by a 19% increase in interest income, which brings the earnings to 20.2 billion in 2018 from Rs. 16.9 billion posted in the previous year. To
The Net Interest Income in the period under consideration was Rs. 10.6 billion, a 25% increase from the Rs. 8.5 billion recorded in the first nine months of 2017. Deposits too showed an 11.2% growth, at Rs. 78.7 billion in 2018 compared to the Rs. 70.8 billion in 2017.
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