LB Finance records over 50% hike in deposits

The deposit base of LB Finance crossed the Rs 6 billion mark at the end of 2007, recording a phenomenal over 50% growth, the company said. “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.4 billion as at 30th December 2006, is reported to have increased to Rs 6.3 billion, as at 31st December 2007, its resounding success and continuing confidence among investors attributed to its competitive rates of interest and excellence in service,” the statement from the company said.