L B Finance PLC sometimes spelt LB Finance, is a Sri Lankan non-bank financial institution. The company is incorporated in 1971 and initially, the majority of shares were held by Lewis Brown & Company. The company was listed on the Colombo Stock Exchange in 1997. In 2003, Dhammika Perera acquired the company and became a subsidiary of Vallibel One. Currently, the company is one of the components of the S&P Sri Lanka 20 Index. Brand Finance ranked the company 24th in the 100 most valuable brands in Sri Lanka.[2] The company placed 39th in the LMD 100 for the financial year 2019/20.[3]
History
L B Finance was incorporated in 1971 and in 1997 was listed on the Colombo Stock Exchange. Initially, Lewis Brown & Company held the majority (94.9%) of the company's shares. In 1994, Vanik Corporation acquired the company and in 2003 Dhammika Perera took over the company and subsequently became a subsidiary of Vallibel One. The company became the second-largest licensed finance company.[1]