LB Finance records 81 percent increase in PAT

Following the opening of its corporate office in Colpetty recently, LB Finance PLC recently unveiled another mark of its success.

The company's income rose by 45 percent over the nine months, to stand at Rs. 5.596b as at December 31st 2011. Propelled by its solid lending portfolio. The net Interest Income grew by 34 percent to Rs. 2.622b. LB Finance has recorded increases in its profits over the years.

Profit After Tax grew by a staggering 81 percent year-on-year to stand at Rs. 1.1b as at end-December 2011. LB Finance Managing Director Sumith Adhihetty expressed his pleasure at the growth saying "An 81 percent increase in profits is heartening news, taking into account the unstable liquidity position the economy faced during end 2011".