About LB Finance: Leading Financial Partner in Sri Lanka

About LB Finance

The Evolution of LB Finance

The origins of LB Finance trace its roots back to 1971 when it was incorporated as a Private Limited Liability Company in May. In 1982, it was converted into a Public Limited Liability Company and listed on the Colombo Stock Exchange in 1977. The Company was re-registered in June 2008 under the new Companies Act No. 07 of 2007. Although the majority shareholding of the Company was initially held by Lewis Brown & Company Limited, Vanik Incorporation Limited subsequently acquired the controlling power of the Company in 1994.

At present, LB Finance PLC is a subsidiary of Vallibel One PLC, which owns and manages a fast growing and valuable portfolio across seven key industries such as lifestyle, finance, aluminum, plantation, leisure, consumer and investments. With this strategic alliance, LB Finance has become synergised, energised and revitalised to deliver immense value to our diverse stakeholders now and into the future. Backed by a strong financial background and experience spanning over 50 years in the industry, LB Finance offers you a holistic portfolio of financial solutions. Synonymous with reliability, LB Finance is trusted by corporates, SMEs, and individuals alike. Our innovative financial solutions are offered through more than 175 branches. Expanding our presence beyond the shores of the island, LB Finance is operating in Myanmar as well. We have established 12 branches in the Bago and Magway regions to financially empower them and give their dreams wings. Our products and services are offered through our 03 main business clusters — Investing, Financing, Value-Added Services — under the LB Finance brand, which improves our brand presence and ensures brand resonance. All our products and services are curated and marketed in line with all regulatory guidelines as ethically serving our communities is at the heart of everything we do.

OUR LEGACY & HISTORY

Delve into our legacy, explore key milestones, and discover our commitment to excellence.

1971

Established as a private company on 30th May 1971 with its registered office at No. 101, Vinayalankara Mawatha, Colombo 10. Our majority shareholding of 94.9% was held by Lewis Brown & Company Limited.

1982

Changed our status to become a public company.

1994

Vanik Incorporation Limited’s shareholding increased to 83.26% marking a milestone in our journey.

1997

We were listed in the Colombo Stock Exchange.

2003

A period of transformation that added another strong chapter to our journey. Mr. K D D Perera took over a stake of 58.74 percent to turn around the loss-making company into a profitable venture.

2005

Registered in terms of Section 2 of the Finance Companies Act No. 78 of 1988.

2008

The Company re-registered under the New Companies Act No. 07 of 2007.

2010

Our profits doubled and crossed over Rs. 1 billion for the first time in history. Our North and East market presence became a part of the Vallibel One umbrella for the first time, which is a diversified company.

2012

We moved to our new corporate office located at Dharmapala Mawatha, Colombo 03, and introduced LB Savings to our customers. The largest expansion drive within the industry with 20 new outlets was recorded, along with the largest deposit base among the NBFI sector.

2013

Global Banking and Finance Review UK awarded us with the ‘Best Retail Finance in Sri Lanka for 2013’ recognition. We opened our first Premier branch in Mount Lavinia. Our workforce exceeded 2000 employees.

2014

We were certified as a Carbon Conscious Company by the Sri Lankan Carbon Fund. We also partnered with the Sri Lanka Interbank Payment System (SLIPS). As a CSR initiative, we rebranded as LB Sustainability, marking another important milestone in our journey.

2015

Marking a monumental period, we opened our 100th branch in Jaffna, and introduced the VISA shopping card.

2016

We successfully completed 45 years in the finance industry with a profit growth of 70%; a profit of Rs. 3.7 billion (PAT).

2017

Integrated with Common Electronic Fund Transfer Switch (CEFTS). We also exceeded Rs. 100 billion asset base.

2018

We made our first overseas expansion of L B Finance to Myanmar. We also migrated into cloud-based IT platform. We were ranked among the top 20 brands in Sri Lanka by Interbrand and launched the Cash Deposit Machine facility.

2019

Our profits reached over Rs. 5 billion for the first time in the history. We successfully launched ORACLE Fusion finance module and established a Digital Financial Services Unit. Our Myanmar operation expanded to four branches. As part of our commitment to environmental sustainability, we commenced planting 50,000 trees under the ‘Thuru Wawamu’ Project.

2021

2021 marked the 50th year of LBF. Our customers, shareholders, employees, business partners, regulators, and the community at large, have each been an integral part that made us whole and who we are today; one of the most recognized and the largest financial institutions in the country. This milestone is one where we reflect on the lives we have touched, and those who gave us a reason to exist and provided us the opportunity to give back to the community.

Meet Our Leadership

Our leadership team is committed to driving innovation and growth, guided by strong values and a clear strategic vision.

Vision

To contribute to the quality of life experienced by our depositors, customers, employees and the general public through partnerships that fuel the growth of our Company and to create shareholder value both in the short- term and long- term.

Mission

To mobilise public funds by innovating investment products that will enhance the value delivered to our depositors.
To engage in prudent lending to entrepreneurs to assist them in the creation of wealth.
To embark on investments in which results can be clearly assessed and seize new opportunities in the market.
To offer a caring and personalised service that will form the foundation for developing lasting partnerships with our stakeholders, employees and the general public.
To use training and career development to create an empowered and committed group of employees who will drive the Company to high levels of achievement.

Trust & Compliance Teaser

Learn about our commitment to trust, ethics, and full regulatory compliance.

Total Income
Ethics
Professionalism
Transparency
Innovation
Quality

Meet Our Leadership

Our leadership is dedicated to ethical governance and sustainable financial growth for all stakeholders.

Mr. G A R D Prasanna

Chairman

Skills and experience

Mr. G A Rasika Dimuth Prasanna has many years of experience in business administration.

Appointed to the Board

1st December 2021

Current appointments

Independent Non-Executive Director of Royal Ceramics Lanka PLC. Director of Rocell Bathware Limited, Rocell Ceramics Distributors (Private) Limited and Rocell Property Limited. Managing Director of Wise Property Solutions (Pvt) Ltd. Director of Country Energy (Private) Limited, Wise Homes (Pvt.) Ltd., La Fortress (Private) Limited, Delmege Forsyth & Co. (Exports) (Pvt) Ltd., Delmege Coir (Pvt) Ltd., Delmege Forsyth & Co. (Shipping) (Pvt) Ltd., Lewis Shipping (Pvt) Ltd, Delmage Air Services (Pvt) Ltd, Delmage Aviation Services (Pvt) Ltd, Lewis Brown Air Services (Pvt) Ltd, Delmage Acro Services (Pvt) Ltd, Delmage Insurance Brokers (Pvt) Ltd and Delmage Airline Services (Pvt) Ltd.

Memberships of the Board Sub-Committees

Board Nomination and Governance Committee - Member

Board Human Resources and Remuneration Committee - Member

Former appointments

Director of Pan Asia Banking Corporation PLC and served as its Chairman from July 2017 to May 2021

Mr. Niroshan Udage

Managing Director

Skills and experience

Having joined LB Finance PLC in 2004 as the General Manager - Asset Finance, he was appointed to the Board on 1 st January 2007 and served as an Executive Director prior to being appointed the Deputy Managing Director on 8th March 2021. Mr. Udage counts over 30 years of experience in the field of leasing and finance, including 10 years at Lanka Orix Leasing Company PLC, where he started his career in 1990 and 3 years at Mercantile Investments Limited.

Mr. Udage holds a Bachelor’s Degree in Science from the University of Colombo. He has undergone extensive training in Strategy and Management in Banking conducted by Intentional Development Ireland Ltd in Dublin and London and also successfully completed High Potentials Leadership Program at Harvard Business School in Boston, MA, USA in 2012.

Appointed to the Board

On 1st January 2007

Current appointments

Executive Director of LB Finance’s subsidiary in Myanmar - LB Microfinance Myanmar Company Limited.

Chairman of the Finance Houses Association of Sri Lanka (FHA).

Director of Credit Information Bureau of Sri Lanka (CRIB).

Member of the Financial System Stability Consultative Committee established by the Central Bank of Sri Lanka.

Memberships of the Board Sub-Committees

Board Sustainability Committee - Member

Former appointments

Non Executive Director of Board of Hayleys Fibre PLC 2011 to 2017.

Mr. B D A Perera

Executive Director

Skills and experience

An Associate Member of the Chartered Institute of Management Accountants ACMA, CGMA (UK) and holds a BSc (Business Administration) Special Degree from the University of Sri Jayewardenapura, successfully completed High Potentials Leadership Program in 2012 at Harvard Business School in Boston, MA, USA. Counts over 21 years of experience in the leasing industry that includes positions at Commercial Leasing Company Limited, Lanka Orix Leasing Company PLC and a Merchant Bank in Bangladesh.

Appointed to the Board

On 1st January 2007

Current appointments

Director of LB Microfinance Myanmar Company Limited

Independent Non Executive Director of Pan Asia Banking Corporation PLC.

Memberships of the Board Sub-Committees

Board Information Security Committee - Member

Former appointments

Director of Hayleys Fibre PLC

Mr. Ravindra Yatawara

Executive Director

Skills and experience

Holds a BSc. Degree in Business Administration from the Oklahoma State University, USA. Counts over 22 years of experience in the Finance Industry, including both Managerial and Senior Managerial positions in the LOLC Group, Hatton National Bank PLC and AMW Capital Leasing PLC.

Appointed to the Board

On 15th March 2016

Current appointments

Director of LB Microfinance Myanmar Company Limited, Director of Leasing Association of Sri Lanka (LASL), Nominee of The Finance Houses Association of Sri Lanka (FHA) on the Board of the Credit Information Bureau of Sri Lanka (CRIB).

Former appointments

General Manager of LB Finance PLC, Chairman of The Finance Houses Association of Sri Lanka (FHA).

Mr. Ravindra Tissera

Executive Director

Skills and Experience

Mr. Ravindra Tissera is an inclusive finance, impact investing & green finance and MSME Sector specialist. He was the founder CEO of LOLC Microcredit Ltd in 2008, which was later merged with and acquired by LOLC Finance PLC in 2018. He continued as Executive Deputy Chairman / CEO of the merged entity until February 2020. Mr. Tissera played a vital role in expanding microfinance entities outside Sri Lanka for the LOLC group, to Myanmar, Cambodia, Pakistan and Zambia.

After holding many senior positions within the LOLC Group, Mr Tissera resigned in February 2020 to take up office as CEO at Early Dawn Microfinance Myanmar Ltd. As the CEO of Early Dawn Microfinance Ltd, he was able to uplift the Company up to Myanmar’s top 4 Microfinance institutions. During his term, it was also the first MFI in Myanmar to complete long term debt restructuring.

Mr. Tissera has strong competencies in Corporate Finance and lead the first USD syndicate debt finance to the Non-Bank Financial Institutions sector in Sri Lanka. He is professionally qualified as a marketer and has received executive education training at HBS. He is also a panelist and resource person in the inclusive finance, impact investing and green finance space.

He counts for over 15 years’ experience as a CEO in the Non-Bank Financial Institutions sector, both in Sri Lanka and Myanmar.

Appointment to the Board

29th September 2025

Former appointments

LOLC Microcredit Ltd – Founder CEO
LOLC Finance PLC - Executive Deputy Chairman / CEO
Early Dawn Microfinance Myanmar Ltd – CEO
Seylan Bank PLC – Alternate Director
HNB Finance PLC – Independent Non-Executive Director

Mr. Ashane Jayasekara

Senior Independent Non-Executive Director

Skills and experience

Ashane is the Deputy Managing Partner of BDO in Sri Lanka & the Managing Partner for BDO in the Maldives. He heads the Risk, Cyber Security and Fraud & Forensics Service Practice in the firm. As the IT Director and Chief Privacy Officer, he oversees the IS security strategy and privacy function in the Firm.

He joined BDO in 2009 as a Director and was made a Partner in 2010. He has over 17 years of experience in overseeing corporate governance reviews, risk assessments and compliance audits in private, publicly listed, multinational and government enterprises across a range of sectors, including retail, banking, manufacturing, logistics, airlines, hotel and healthcare. He has also served as the lead client service professional, fraud & forensic investigations and has prepared Forensic Audit reports for cases ranging from arbitration hearings to Magistrates and High Court cases.

He is a Fellow member of the Institute of Chartered Accountants of Sri Lanka, the Chartered Institute of Management Accountants (UK) and the British Computer Society (UK). He also holds a Bachelor of Science Degree in Information Systems from the London Metropolitan University and a Master of Business Administration from the University of Southern Queensland. Ashane is a Certified Internal Auditor [IIA-USA], a Certified Financial Services Auditor [IIA-USA] and a Certified Information’s Systems Auditor [ISACA-USA].

At CA Sri Lanka, he currently serves as a Member of the Governing Council, Corporate Governance Committee, Forensic Accounting Faculty and a Board Member of the Board of Management of the School of Accounting & Business. Ashane is a visiting faculty member at leading state and private sector universities and has played a pioneering role in the introduction and delivery of Fraud & Forensic Accounting as a subject in undergraduate and postgraduate programmes in Sri Lanka.

Appointed to the Board

On 30th October 2017

Current appointments

Member of the Governing Council – Institute of Chartered Accountants of Sri Lanka, Member of Council – Open University of Sri Lanka, Director Academic Affairs & Research – Information Systems Audit & Control Association – Sri Lanka

Memberships of the Board Sub-Committees

Board Audit Committee - Chairman

Board Nomination and Governance Committee - Chairman

Board Human Resources and Remuneration Committee - Chairman

Board Integrated Risk Management Committee - Member

Board Related Party Transaction Review Committee - Member

Board Information Security Committee - Member

Former appointments

Director – BDO Consultants (Pvt) Ltd, Director – BDO BPO Services (Pvt) Ltd, Director – BT Communications Lanka (Pvt) Ltd, Chairman – Information Technology Faculty – CA Sri Lanka, President / Governor – Institute of Internal Auditors – Sri Lanka

Mrs. Yogadinusha Bhaskaran

Non-Executive Director

Skills and experience

She is a Fellow of the Chartered Institute of Management Accountants UK (FCMA), Fellow of CPA Australia (FCPA) and an Associate Member of the Institute of Bankers, Sri Lanka.

Appointed to the Board

On 15th March 2016

Current appointments

Chief Executive Officer of Vallibel One PLC. Director of Delmege Limited, Alternate Director to Mr. Dhammika Perera on the Boards of Dipped Products PLC, Hayleys Fabric PLC and Haycarb PLC.

Memberships of the Board Sub-Committees

Board Audit Committee - Member

Board Integrated Risk Management Committee - Member

Former appointments

Assistant General Manager (Finance & Planning) of Pan Asia Banking Corporation PLC, Financial Controller of several Australian companies in Melbourne.

Mrs. Ashwini Natesan

Independent Non-Executive Director

Skills and experience

She is a qualified legal practitioner from India. She specialises in Technology, Media & Telecommunications (TMT) Law. She currently lectures at APIIT Law School in Colombo, Sri Lanka while consulting on TMT Law issues including those concerning Financial Technology (FinTech). She also works on research projects relating to data protection, privacy, right to information and alternative dispute resolution mechanisms. In India, she has previously worked in litigation and corporate law offices including with Senior Counsel Mr. P. Wilson, former Additional Solicitor General of India and former Additional Advocate General of Tamil Nadu. She holds an LL.M (Master of Laws) in International Business Law from Faculty of Law, National University of Singapore where she graduated in the top five of her class. She has a Bachelor of Arts and Law (B.A. LL.B (Hons.), Distinction) from the School of Excellence in Law, Tamil Nadu Dr. Ambedkar Law University, Chennai, India. Additionally, she holds diplomas in International Business Management (offered by Loyola Institute of Business Administration, India) and Commercial Arbitration (offered by ICLP, Sri Lanka).

Appointed to the Board

1st September 2018.

Current appointments

None

Memberships of the Board Sub-Committees

Board Integrated Risk Management Committee - Chairperson

Board Related Party Transaction Review Committee - Chairperson

Board Information Security Committee - Chairperson

Board Audit Committee - Member

Board Nomination and Governance Committee - Member

Board Sustainability Committee - Member

Former appointments

None

Mr. Dharmadasa Rangalle

Non-Executive Director

Skills and experience

He is a retired Senior Commissioner of the Department of Inland Revenue (Special Grade). He has over 34 years of experience in the Government (Public) Sector, including 31 years of experience of Tax Administration as an Assessor, Senior Assessor, Deputy Commissioner, Commissioner and Senior Commissioner. He has a Master of Commerce (M.Com) Degree from the University of Kelaniya, Bachelor of Commerce (B.Com) Special Degree - Second Class Upper Division (Honours) from the University of Kelaniya and is a Fellow Member of Institute of Taxation, Sri Lanka. He has completed all course work relating to the Doctoral Degree Programme of Open University of Malaysia. He is also a visiting Lecturer at the University of Kelaniya, Sri Lanka Institute of Information Technology (SLIT), Business School of Institute of Chartered Accountants of Sri Lanka and Institute of Taxation of Sri Lanka.

Appointed to the Board

10th April 2019.

Current appointments

Mr. Rangalle serves as a Non-Executive Director of Fentons Limited, Hayleys Aventura (Pvt) Ltd., and Hayleys Advantis Limited, which are subsidiaries of Hayleys PLC.

Memberships of the Board Sub-Committees

Board Related Party Transaction Review Committee - Member

Former appointments

Senior Commissioner of the Department of Inland Revenue (Special Grade).

Mr. Piyal Hennayake

Independent Non-Executive Director

Skills and experience:

Accomplished professional with over 40 years of experience spanning engineering, portfolio management, credit, project finance, branch network management, administration, real estate, teaching, and consultancy. Held 26 years of senior-level roles, including 20 years as a C-suite/KMP at Hatton National Bank PLC and Seylan Bank PLC, driving organizational growth, operational excellence, and strategic decision-making. Skillful at leading cross-functional teams, optimizing portfolios, and steering complex ventures in both financial services and engineering.

Appointed to the Board:

On 18th November 2024

Current appointments:

Assigned as the National Finance Expert at United Nations Industrial Development Organization (UNIDO) - Accelerating Industrial Climate Response Project (Assignment from July to December 2024)
Country Coordinator-Sri Lanka, Advisor/Coach at Private Financing Advisory Network (PFAN) - hosted by UNIDO & Renewable Energy and Energy Efficiency Partnership (REEEP) – From February 2022 till present
Independent Non-Executive Director of Seylan Developments PLC – From January 2016 till present

Former appointments:

Hatton National Bank PLC
- From January 2006 to December 2015 – CEO/Director, Sithma Developments Ltd (real estate subsidiary of Hatton National Bank PLC)
- From January 2006 to December 2015 – Assistant/Deputy General Manager – Services
- From January 2004 to December 2005 – Assistant General Manager – Zone 3
- From March 1995 to December 2003 – Senior/Chief/Assistant General Manager – Project Finance
Lanka Ventures PLC – From August 1992 to February 1995 as the Portfolio Manager – Venture Capital
Central Engineering Consultancy Bureau – From February 1983 to July 1992 as the Civil Engineer

Mr. Priyantha Talwatte

Independent Non-Executive Director

Skills and experience:

A senior executive with a proven track record of transforming businesses and building high-performing organizations and teams to deliver sustainable value to all stakeholders. Key competencies include strategic planning and strategy development, risk management, managing technology, processes, and people to drive innovation and operational excellence.

He has 22 years of corporate management experience, with a decade of experience in the private telecommunications sector, where he established and led multiple startup ventures locally and internationally, showcasing entrepreneurial vision and leadership in dynamic markets.

He is an accomplished professional with expertise in strategic planning and implementation, goal setting, and establishing clear accountabilities, supported by strong capabilities in market research, environment scanning, and customer-centric product development. Adept at portfolio management, marketing, customer engagement, and asset-liability management, with a focus on risk identification, mitigation, and regulatory compliance. Demonstrates proficiency in data, digital, and technology management, credit underwriting, credit risk management, collections, and change and transformation management. Skilled in facilities expansion, customer and staff engagement, board collaboration, and building high-performing teams through training, coaching, and leadership development.

Appointed to the Board:

on 18th November 2024

Current appointments:

Managing Director of Lanka Tiles PLC from 1st April, 2025
Managing Director of Lanka Walltiles PLC from April, 2025

Former appointments:

Sanasa Development Bank PLC – A specialized development bank licensed by the Central Bank of Sri Lanka, from November, 2022 to February, 2024 as Chief Executive Officer
Nations Trust Bank PLC which was an Associate Company of John Keells group from the year 2002 to the year 2022 as the Director/Chief Executive Officer from the year 2020 to 3rd April 2022
Tritel Telecommunications Inc. Manila Philippines from the year 2000 to the year 2002 as the Country Manager
Tritel Sri Lanka (Pvt) Ltd from the year 1998 to the year 2000 as the General Manager

Prof. T N K De Zoysa

Independent Non-Executive Director

Skills and Experience

Prof. Thirimadura Nandika Kasun De Zoysa is the Deputy Director and Coordinator of the Digital Forensic Center at the University of Colombo School of Computing. He holds a Ph.D. in Computer Science from Stockholm University, Sweden and possesses over twenty-five years of experience spanning academia, industry and national cybersecurity initiatives. Prof. De Zoysa has provided advisory and consultancy services to leading financial institutions and government agencies in the areas of information security, digital forensics and technology risk management. He has played a pivotal role in developing cybersecurity frameworks and capacity building programs for the banking and finance sector. A widely published researcher with over 1,500 academic citations, an h-index of 18 and an i10-index of 33, Prof. De Zoysa is recognised for his expertise in cybersecurity and national digital infrastructure resilience. He serves on several expert committees and advisory boards guiding the digital transformation and information security strategies of key public and private sector entities.

Current Appointments

Independent Non-Executive Director of Associated Motor Finance Company PLC, Deputy Director of the University of Colombo School of Computing, Director of the Sri Lanka Computer Emergency Readiness Team, Acting Director of the Network Operation Center, University of Colombo, Department Head of Communication and Media Technologies, University of Colombo School of Computing and Coordinator for the Center for Digital Forensic, University of Colombo School of Computing.

Former Appointments

Principal Investigator, CYCLE: Cybersecurity Learning Project, EU Funded Collaboration between Sri Lanka, Norway, Thailand and Vietnam, Head, Computer Security and Forensics Special Interest Group, the Computer Society of Sri Lanka, President, Welfare Society, University of Colombo School of Computing.