LB Finance deposits soar 50% to Rs. 6.3 b in 2007

The deposit base of LB Finance crossed the six billion mark at the end of 2007, recording a phenomenal growth of over 50%.

The overwhelming surge in deposits - the ultimate parameter of a finance company, is evidence of the Company's record breaking run, highlighting the confidence it enjoys across Sri Lanka.

The Company's deposit base of Rs. 4bn as at December 30, 2006, is reported to have increased to Rs. 6.3bn, as at December 31, 2007, its resounding success and continuing confidence among investors attributed to its competitive rates of interest and excellence in service.

"Our present client base includes over 10,000 depositors and we are committed to rewarding the trust and confidence that they have in us and continuously value-add to our product portfolio to ensure an exceptional service," said a spokesman for the company.

"The strength of our staff - a team of handpicked industry veterans, has also contributed in helping us maintain and augment superiority in fixed deposits," he said.

In its quest to provide Sri Lankans flexible and quick financial products through its islandwide branch network, the Company opened new branches during the past year in areas across the island including Kalutara, Horana, Anuradhapura, Gampaha and Ambalangoda. With over 36 years of experience in the financial sphere, LB Finance offers a range of cutting-edge financial solutions such as Acceptance of Deposits, Leasing, Hire Purchase, Mortgage Loans and other Credit Facilities.

The Company's Real Estate Development, related services, and Pawn Broking continue to leave blazing trails in the industry.