LCB Finance is preparing for the next milestone in its journey by listing its shares on the Colombo Stock Exchange (CSE) through an IPO.
“We have already initiated and partly completed the listing process through our advisors to the listing, NDB Investment Bank.
FJ & G de Saram are the legal advisors and Sampath Bank, the Banker to the IPO,” said CEO K. G. Leelananda.
Lanka Credit & Business Finance Limited (LCB Finance) is committed to uplift the standards of living for low income earners with its range of micro finance products.
“The clients of the company, among others, consist of farmers, fishermen, vendors and labourers and small business owners, making us truly a people’s development financial institution. Over the past three years we have made a collective effort and a focus on overall betterment of communities,” he said. At the end of the financial year March 31, 2021, the company had a core capital of Rs. 2.16b and posted Rs. 100m PBT. The operational profit was Rs. 122m. The total assets amounted to Rs. 3,672m.
The capital adequacy ratio was 58% and its credit portfolio was Rs. 2.56b. The rating Committee of ICRA Lanka Ltd. has revised the rating from [SL]B stable outlook to [SL]+ Stable.