On the back of a phenomenal growth trend in recent years, LB Finance Ltd has announced a debenture issue with a year maturity option. Since listed on the Colombo Stock Exchange, the company has recorded a 356% growth in deposits, illustrating the customer confidence in the company which is among the top 3 finance companies in Sri Lanka, the company says. The company’s first-ever debenture issue will offer one hundred thousand unsecured subordinated redeemable 5-year unlisted debentures at a par value of Rs. 1000/- each. "The huge increase in customer confidence over the years has created a rapidly growing deposit base. Naturally, as with all other financial institutions, we too, are required to increase the capital adequacy ratio, in order to keep up with expansion", says Mrs. Mano Alles, Managing Director of LB Finance, in a press release.

She believed that while pulling a mandatory requirement, the debenture issue will also provide an ideal opportunity for people to share in the company’s consistent growth. "For over 3 decades we have shown consistent growth and have firmly established ourselves as a finance company that has won the confidence of the people", says Mrs. Alles.

The company’s business portfolio includes, in addition to its strong deposit base, leasing, pawn broking and real estate, all high potential sectors. LB Finance is the pioneer and only finance company in the sphere of pawn broking.

This debenture issue will provide us fresh impetus in growth. The Rs. 100mn issue has already been welcomed by the company‘s large deposit base. "We have stood the test of time. Creating, in the process, a financial success story based on far-sighted business wisdom and unwavering integrity. Our debenture issue will offer more people the opportunity to share in our success", says the veteran banker.