L B Finance

L B Finance Profile and History

L B Finance PLC (LBF) is a licensed finance company. It was incorporated in May 1971 as a private limited liability company and subsequently converted to a public limited liability company in 1982. The Company was listed on the Colombo Stock Exchange in 1998 and was re-registered in June 2008 under the new Companies Act No. 7 of 2007. At the beginning, the majority shareholding was held by Lewis Brown & Company Limited. In 1994, Vanik Incorporation Limited acquired the controlling interest of the Company. Mr. Dhammika Perera, a well-known iconic entrepreneur took over the Company in 2003 and turned it around to be the vibrant and leading finance company that it is today. LBF is a company in the Group of Vallibel One which is a diversified holding Company with strategic investments in financial services, tile and sanitary ware manufacturing and leisure. Backed by a strong financial tradition of over 40 years, LBF offers a portfolio of financial solutions trusted widely by corporate, SMEs and individuals alike. As of 31st March 2014, the Company operated a network of 97 branches and 37 gold loan centers totaling to 134 outlets. After the acquisition of the Company by Mr. Dhammika Perera, the business underwent a transformation with a new strategic direction and emphasis on profitability and long term value creation.