LCB Finance announce plans for Colombo Stock Exchange listing

Lanka Credit & Business Finance Limited (LCB Finance) announced plans for a public listing in the Colombo Stock Exchange through an Initial Public Offering (IPO).

“We have already initiated and partly completed the listing process through NDB Investment Bank. Furthermore, we have already appointed FJ & G de Saram as our Legal Advisors and Sampath Bank PLC as the Banker to the IPO”, the company said in a press release.

LCB Finance, which initially began as a grassroot level financial institution, witnessed exponential growth and expansion across the country over the years. It was awarded “Fastest Growing Non-Banking Financial Firm in Sri Lanka 2021” at the Global Economics Awards 2021 in UK.

As a financial institute committed to uplift the standards of living of low income earners with a range of micro finance products, it was also recognized as the Emerging Finance Company of the Year 2019.

The customer base of the company comprises

farmers, fishermen, vendors, labourers and small business owners, among others which makes it a truly people’s development financial institution.

As at end of the March 31, 2021 Financial Year, LCB Finance’s Core Capital was 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 rapid development of the company has revised its rating from [SL]B stable outlook to [SL]+ Stable.