LB Finance : Interim Financial Statements-31.03.2024

LB FINANCE PLC

STATEMENT OF COMPREHENSIVE INCOME

Year ended 31 March 2024			COMPANY
	FOR THE 3 MONTHS ENDED	FOR THE YEAR ENDED
					Audited
	31.03.2024	31.03.2023	Change	31.03.2024	31.03.2023	Change
	Rs.('000)	Rs.('000)	%	Rs.('000)	Rs.('000)	%
Income	11,865,140	12,347,648	(4)	49,230,095	42,756,458	15
Interest Income	10,777,814	11,560,637	(7)	45,866,539	39,643,934	16
Less : Interest Expenses	4,661,971	6,378,939	(27)	21,379,499	20,615,585	4
Net Interest Income	6,115,843	5,181,698	18	24,487,040	19,028,349	29
Fee and Commission Income	972,311	775,859	25	3,186,422	2,951,065	8
Net Trading Income	1,120	644	74	4,943	(2,096)	>100
Other Operating Income	113,895	10,508	>100	172,191	163,555	5
Total Operating Income	7,203,169	5,968,709	21	27,850,596	22,140,873	26
Less : Impairment Charges	(161,504)	18,487	>(100)	373,236	545,744	(32)
Net Operating Income	7,364,673	5,950,222	24	27,477,360	21,595,129	27
Less : Operating Expenses
Personnel Expenses	1,109,673	927,996	20	4,376,475	3,545,137	23
Depreciation of Property, Plant and Equipment	223,513	205,441	9	866,348	816,734	6
Amortisation of Intangible Assets	2,189	2,251	(3)	8,414	8,183	3
Other Operating Expenses	907,367	795,363	14	3,418,294	2,807,948	22
Total Operating Expenses	2,242,742	1,931,051	16	8,669,531	7,178,002	21
Operating Profit before Tax on Financial Services	5,121,931	4,019,171	27	18,807,829	14,417,127	30
Less : Tax on Financial Services	938,131	765,321	23	3,627,622	2,670,575	36
Profit before Taxation	4,183,800	3,253,850	29	15,180,207	11,746,552	29
Less : Income Tax Expense	1,483,352	576,074	157	5,616,569	3,286,221	71
Profit for the Year	2,700,448	2,677,776	1	9,563,638	8,460,331	13
Basic Earnings per Share (Rs.)	4.87	4.83	1	17.26	15.27	13
Other Comprehensive Income
Other Comprehensive Income that will never be Reclassified to Income
Statement
Net Gains/(Losses) on Investment in Equity Instruments - Fair Value Through
Other Comprehensive Income	19,820	17,421	14	1,199	31,364	(96)
Actuarial Gains/(Losses) on Defined Benefit Plans	(53,706)	7,539	>(100)	(53,706)	7,539	>(100)
Less: Deferred Tax Charge/(Reversal) on Actuarial Gains and Losses	(16,112)	2,262	>(100)	(16,112)	2,262	>(100)
Net Actuarial Gains/(Losses) on Defined Benefit Plans	(37,594)	5,277	>(100)	(37,594)	5,277	>(100)
Net Other Comprehensive Income that will never be Reclassified to Income
Statement	(17,774)	22,698	>(100)	(36,395)	36,641	>(100)
Other Comprehensive Income for the Year, Net of Tax	(17,774)	22,698	>(100)	(36,395)	36,641	>(100)
Total Comprehensive Income for the Year, Net of Tax	2,682,674	2,700,474	(1)	9,527,243	8,496,972	12

LB FINANCE PLC

STATEMENT OF COMPREHENSIVE INCOME

Year ended 31 March 2024			GROUP
	FOR THE 3 MONTHS ENDED	FOR THE YEAR ENDED
					Audited
	31.03.2024	31.03.2023	Change	31.03.2024	31.03.2023	Change
	Rs.('000)	Rs.('000)	%	Rs.('000)	Rs.('000)	%
Income	11,975,197	12,457,091	(4)	49,635,771	43,133,443	15
Interest Income	10,877,770	11,651,480	(7)	46,239,187	39,973,555	16
Less : Interest Expenses	4,682,718	6,390,265	(27)	21,460,631	20,663,956	4
Net Interest Income	6,195,052	5,261,215	18	24,778,556	19,309,599	28
Fee and Commission Income	981,434	790,743	24	3,217,460	2,986,402	8
Net Trading Income	1,120	644	74	4,943	(2,096)	>100
Other Operating Income	114,873	14,224	>100	174,181	175,582	(1)
Total Operating Income	7,292,479	6,066,826	20	28,175,140	22,469,487	25
Less : Impairment Charges	(275,464)	19,149	>(100)	270,093	519,133	(48)
Net Operating Income	7,567,943	6,047,677	25	27,905,047	21,950,354	27
Less : Operating Expenses
Personnel Expenses	1,143,262	953,534	20	4,503,482	3,669,537	23
Depreciation of Property, Plant and Equipment	227,764	209,213	9	882,572	834,155	6
Amortisation of Intangible Assets	2,508	3,544	9	11,189	13,284	(16)
Other Operating Expenses	941,387	825,052	14	3,543,136	2,912,708	22
Total Operating Expenses	2,314,921	1,991,343	16	8,940,379	7,429,684	20
Operating Profit before Tax on Financial Services	5,253,022	4,056,334	30	18,964,668	14,520,670	31
Less : Tax on Financial Services	938,249	768,272	22	3,630,243	2,677,606	36
Profit before Taxation	4,314,773	3,288,062	31	15,334,425	11,843,064	29
Less : Income Tax Expense	1,482,784	568,463	>100	5,627,414	3,290,178	71
Profit for the Year	2,831,989	2,719,599	4	9,707,011	8,552,886	13
Profit Attributable to:
Equity Holders of the Company	2,832,801	2,716,919	4	9,713,917	8,554,543	14
Non-Controlling Interest	(812)	2,680	>(100)	(6,906)	(1,657)	>(100)
Profit for the Year	2,831,989	2,719,599	4	9,707,011	8,552,886	13
Basic Earnings per Share (Rs.)	5.11	4.90	40	17.53	15.44	14
Other Comprehensive Income
Other Comprehensive Income that will be Reclassified to Income Statement
Net Gains/(Losses) from Translating the Financial Statements of the Foreign Operations	(26,078)	(87,744)	(70)	(73,048)	(70,587)	3
Net Other Comprehensive Income that will be Reclassified to Income Statement	(26,078)	(87,744)	(70)	(73,048)	(70,587)	3
Other Comprehensive Income that will never be Reclassified to Income Statement
Net Gains/(Losses) on Investment in Equity Instruments - Fair Value Through Other
Comprehensive Income	19,820	17,421	14	1,199	31,364	(96)
Actuarial Gains/(Losses) on Defined Benefit Plans	(54,333)	8,166	>(100)	(54,333)	8,166	>(100)
Less: Deferred Tax Charge/(Reversal) on Actuarial Gains and Losses	(16,112)	2,262	>(100)	(16,112)	2,262	>(100)
Net Actuarial Gains/(Losses) on Defined Benefit Plans	(38,221)	5,904	>(100)	(38,221)	5,904	>(100)
Net Other Comprehensive Income that will never be Reclassified to Income Statement	(18,401)	23,325	>100	(37,022)	37,268	>(100)
Other Comprehensive Income for the Year, Net of Tax	(44,479)	(64,419)	(31)	(110,070)	(33,319)	>100
Total Comprehensive Income for the Year, Net of Tax	2,787,510	2,655,180	5	9,596,941	8,519,567	13
Attributable to:
Equity Holders of the Company	2,788,322	2,652,279	5	9,604,068	8,521,003	13
Non-Controlling Interest	(812)	2,901	>(100)	(7,127)	(1,436)	>(100)
Total Comprehensive Income for the Year, Net of Tax	2,787,510	2,655,180	5	9,596,941	8,519,567	13

LB FINANCE PLC

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024	Company	Group
		Audited		Audited
	31.03.2024	31.03.2023	31.03.2024	31.03.2023
	Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)
Assets
Cash and Cash Equivalents	9,314,425	4,524,032	9,559,602	4,680,955
Financial Assets Recognised Through Profit or Loss - Measured at Fair	14,674	10,653	14,674	10,653
Value
Financial Assets at Amortised Cost - Loans and Receivables	161,291,486	145,189,174	162,521,733	146,371,597
Financial Assets Measured at Fair Value Through Other Comprehensive	118,587	117,388	118,589	117,390
Income
Other Financial Assets	20,374,770	21,685,834	20,443,404	21,710,810
Other Non Financial Assets	430,651	474,347	495,796	552,469
Investment in Subsidiaries	698,935	921,998	-	-
Property, Plant and Equipment and Right-of-Use Assets	8,984,363	8,633,347	9,034,106	8,667,202
Investment Properties	-	-	5,050	4,550
Intangible Assets	20,701	22,628	22,602	135,255
Deferred Tax Assets	927,914	767,186	932,330	767,186
Total Assets	202,176,506	182,346,587	203,147,886	183,018,067
Liabilities
Due to Banks	21,702,012	19,369,784	21,955,857	19,392,536
Financial Liabilities at Amortised Cost - Due to Depositors	122,808,124	114,011,699	123,034,547	114,248,253
Debt Instruments Issued and Other Borrowed Funds	5,491,401	3,882,024	5,491,401	3,882,024
Other Financial Liabilities	3,757,776	3,255,862	3,815,897	3,283,059
Other Non Financial Liabilities	1,547,570	1,090,091	1,591,382	1,154,729
Current Tax Liabilities	2,770,496	2,255,830	2,775,700	2,261,996
Post Employment Benefit Liability	473,058	365,557	475,109	367,504
Total Liabilities	158,550,437	144,230,847	159,139,893	144,590,101
Equity
Stated Capital	838,282	838,282	838,282	838,282
Reserves	8,972,430	8,493,049	9,097,433	8,691,100
Retained Earnings	33,815,357	28,784,409	33,975,540	28,794,719
Total Equity Attributable to Equity Holders of the Company	43,626,069	38,115,740	43,911,255	38,324,101
Non Controlling Interest	-	-	96,738	103,865
Total Equity	43,626,069	38,115,740	44,007,993	38,427,966
Total Liabilities and Equity	202,176,506	182,346,587	203,147,886	183,018,067
Net Asset Value per Share (Rs.)	78.74	68.79	79.25	69.17
Commitments and Contingencies	2,281,890	2,403,948	2,030,940	2,403,948

The information contained in these statements have been extracted from the unaudited Financial Statements unless indicated as "Audited".

CERTIFICATION:

These Financial Statements are in compliance with the requirements of the Companies Act No. 07 of 2007.

sgd.

Malith Hewage

Chief Financial Officer

The Board of Directors is responsible for the preparation and presentation of these Financial Statements.

Signed for and on behalf of the Board of Directors by,

sgd.	sgd.
J A S Sumith Adhihetty	Mrs. Yogadinusha Bhaskaran
Managing Director	Director
15 May 2024
Colombo

LB FINANCE PLC

STATEMENT OF CHANGES IN EQUITY - COMPANY

	Retained	Statutory	Fair Value
Stated Capital	Earnings	Reserve	Reserve	Total Equity
Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)

Balance as at 01 April 2022 (Audited)				838,282	24,170,152	8,116,782	(78,124)	33,047,092
Adjustments for Surcharge Tax Levied under the Surcharge Tax Act No. 14 of 2022				-	(2,320,210)	-	-	(2,320,210)
Balance After Surcharge Tax				838,282	21,849,942	8,116,782	(78,124)	30,726,882
Net Profit for the Year				-	8,460,331	-	-	8,460,331
Other Comprehensive Income, Net of Tax				-	5,277	-	31,364	36,641
Transfers During the Year				-	(423,027)	423,017	10	-
Final Dividend for 2021/22				-	(1,108,114)	-	-	(1,108,114)
Balance as at 31 March 2023				838,282	28,784,409	8,539,799	(46,750)	38,115,740
Balance as at 01 April 2023 (Audited)				838,282	28,784,409	8,539,799	(46,750)	38,115,740
Net Profit for the Year				-	9,563,638	-	-	9,563,638
Other Comprehensive Income, Net of Tax				-	(37,594)	-	1,199	(36,395)
Transfers During the Year				-	(478,182)	478,182	-	-
Interim Dividend for 2022/23				-	(1,108,114)	-	-	(1,108,114)
Final Dividend for 2022/23				-	(1,662,171)	-	-	(1,662,171)
Interim Dividend for 2023/24				-	(1,246,629)	-	-	(1,246,629)
Balance as at 31 March 2024				838,282	33,815,357	9,017,981	(45,551)	43,626,069
STATEMENT OF CHANGES IN EQUITY - GROUP
				Foreign		Total Equity
				Currency		Attributable to
		Retained	Statutory	Translation	Fair Value	Equity Holders	Non-Controlling
	Stated Capital	Earnings	Reserve	Reserve	Reserve	of the Company	Interest	Total Equity
	Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)
Balance as at 01 April 2022 (Audited)	838,282	24,085,844	8,116,782	268,638	(78,124)	33,231,422	105,689	33,337,111
Adjustments for Surcharge Tax Levied under the Surcharge Tax Act No. 14 of 2022	-	(2,320,210)	-	-	-	(2,320,210)	-	(2,320,210)
Balance After Surcharge Tax	838,282	21,765,634	8,116,782	268,638	(78,124)	30,911,212	105,689	31,016,901
Net Profit for the Year	-	8,554,543	-	-	-	8,554,543	(1,657)	8,552,886
Other Comprehensive Income, Net of Tax	-	5,683	-	(70,587)	31,364	(33,540)	221	(33,319)
Transfers During the Year	-	(423,027)	423,017	-	10	-	-	-
Disposal of Shares	-	-	-	-	-	-	(388)	(388)
Final Dividend for 2021/22	-	(1,108,114)	-	-	-	(1,108,114)	-	(1,108,114)
Balance as at 31 March 2023	838,282	28,794,719	8,539,799	198,051	(46,750)	38,324,101	103,865	38,427,966
Balance as at 01 April 2023 (Audited)	838,282	28,794,719	8,539,799	198,051	(46,750)	38,324,101	103,865	38,427,966
Net Profit for the Year	-	9,713,917	-	-	-	9,713,917	(6,906)	9,707,011
Other Comprehensive Income, Net of Tax	-	(38,000)	-	(73,048)	1,199	(109,849)	(221)	(110,070)
Transfers During the Year	-	(478,182)	478,182	-	-	-	-	-
Interim Dividend for 2022/23	-	(1,108,114)	-	-	-	(1,108,114)	-	(1,108,114)
Final Dividend for 2022/23	-	(1,662,171)	-	-	-	(1,662,171)	-	(1,662,171)
Interim Dividend for 2023/24	-	(1,246,629)	-	-	-	(1,246,629)	-	(1,246,629)
Balance as at 31 March 2024	838,282	33,975,540	9,017,981	125,003	(45,551)	43,911,255	96,738	44,007,993

`

LB FINANCE PLC

CASH FLOW STATEMENT

Year ended 31 March 2024FOR THE YEAR ENDED

	Company	Group
		Audited		Audited
	31.03.2024	31.03.2023	31.03.2024	31.03.2023
	Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)
Cash Flows from/(Used in) Operating Activities
Profit and Other Comprehensive Income before Taxation	15,127,700	11,785,455	15,208,243	11,812,007
Adjustments for
Depreciation of Property, Plant and Equipment	866,348	816,734	882,572	834,155
Amortisation of Intangible Assets	8,414	8,183	11,189	13,284
Impairment Charges	373,236	545,744	270,093	519,133
Diminution/(Appreciation) in Value of Investments	(5,219)	(28,732)	(5,221)	(28,732)
Gain/(Losses) from fair value changes of Investment Properties	-	-	(500)	(400)
Loss/(Profit) on Disposal of Property, Plant and Equipment	(37,533)	(11,137)	(37,533)	(11,137)
Provision/(Reversal) for Defined Benefit Plans	171,991	95,235	173,431	96,761
Foreign Currency Exchange (Gain)/Loss	-	-	6,015	6,015
Dividend Received	(3,720)	(3,230)	(3,720)	(3,230)
Net Unrealised (Gains)/Losses Arising from Translating the Financial Statements
of Foreign Operations	-	-	73,048	70,587
Operating Profit before Changes in Operating Assets and Liabilities	16,501,217	13,208,252	16,577,617	13,308,443
(Increase)/Decrease in Operating Assets
(Increase)/Decrease in Financial Assets at Amortised Cost - Loans and Receivables	(16,298,738)	(11,339,314)	(16,358,677)	(11,353,328)
(Increase)/Decrease in Other Financial Assets	1,357,315	(16,087,209)	1,313,656	(16,080,881)
(Increase)/Decrease in Other Non Financial Assets	(100,925)	(786,823)	(108,468)	(823,619)
	(15,042,348)	(28,213,346)	(15,153,489)	(28,257,828)
Increase/(Decrease) in Operating Liabilities
Increase/(Decrease) in Financial Liabilities at Amortised Cost - Due to Depositors	8,796,425	24,867,717	8,786,294	24,769,747
Increase/(Decrease) in Other Financial Liabilities	132,472	(418,689)	77,924	(484,819)
Increase/(Decrease) in Other Non Financial Liabilities	541,736	851,070	535,875	874,084
	9,470,633	25,300,098	9,400,093	25,159,012
Cash Generated from Operations	10,929,502	10,295,004	10,824,221	10,209,627
Retirement Benefit Liabilities Paid	(64,490)	(46,651)	(65,826)	(53,090)
Income Tax Paid	(5,211,237)	(3,922,132)	(5,226,892)	(3,922,132)
Surcharge Tax Paid	-	(2,320,210)	-	(2,320,210)
Net Cash from/(Used in) Operating Activities	5,653,775	4,006,011	5,531,503	3,914,195
Cash Flows from/(Used in) Investing Activities
Acquisition of Property, Plant and Equipment and Right-of-Use Assets	(884,570)	(675,637)	(905,130)	(689,702)
Acquisition of Intangible Assets	(6,487)	(15,936)	(6,487)	(17,558)
Proceeds from Sale of Property, Plant and Equipment	74,181	27,874	74,181	27,874
Proceeds from Sale of Investment Properties	-	-	-	68,894
Investment in Subsidiary	-	(836)	-	-
Dividend Received	3,720	3,230	3,720	3,230
Net Cash Flows from/(Used in) Investing Activities	(813,156)	(661,305)	(833,716)	(607,262)
Cash Flows from/(Used in) Financing Activities
Cash Flows from Debt Funding from Banks	17,149,079	15,969,854	17,419,398	15,991,450
Repayment of Debt Funding from Banks	(15,361,540)	(22,200,525)	(15,402,504)	(22,200,525)
Cash Flows from Debt Instruments Issued and Other Borrowed Funds	3,936,235	-	3,936,235	-
Repayment of Debt Instruments and Other Borrowed Funds	(2,326,851)	(4,682,593)	(2,326,856)	(4,682,593)
Dividends Paid	(3,991,839)	(1,108,114)	(3,991,839)	(1,108,114)
Net Cash Flows from/(Used in) Financing Activities	(594,914)	(12,021,378)	(365,566)	(11,999,782)
Net Increase/(Decrease) in Cash and Cash Equivalents	4,245,705	(8,676,672)	4,332,221	(8,692,849)
Cash and Cash Equivalents at the Beginning of the Year	4,033,170	12,709,842	4,188,936	12,881,785
Cash and Cash Equivalents at the End of the Year	8,278,875	4,033,170	8,521,157	4,188,936
CASH AND CASH EQUIVALENTS IN THE CASH FLOW STATEMENT
Notes and Coins Held	1,965,160	1,810,836	1,996,871	1,830,304
Balances with Banks	1,934,329	1,338,660	2,006,666	1,357,186
Securities under Reverse Repurchase Agreements	3,506,594	830,880	3,647,723	949,809
Investment in Unit Trusts	1,908,342	543,656	1,908,342	543,656
Bank Overdrafts	(1,035,550)	(490,862)	(1,038,445)	(492,019)
Net Cash and Cash Equivalents	8,278,875	4,033,170	8,521,157	4,188,936

LB FINANCE PLC

FAIR VALUE MEASUREMENT HIERARCHY - COMPANY

		Fair Value Measurement Using			Fair Value Measurement Using
	Financial	Quoted Prices in	Observable	Unobservable			Quoted Prices in	Observable	Unobservable
	Instruments	Active Markets	Inputs	Inputs			Active Markets	Inputs	Inputs
	Measurement Basis	Level 1	Level 2	Level 3	Total Fair Value	Carrying Value	Level 1	Level 2	Level 3	Total Fair Value	Carrying Value
		Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000
Financial Assets
Cash and Cash Equivalents	Amortised Cost
Notes and Coins Held		1,965,160	-	-	1,965,160	1,965,160	1,810,836	-	-	1,810,836	1,810,836
Balances with Banks		1,934,329	-	-	1,934,329	1,934,329	1,338,660	-	-	1,338,660	1,338,660
Securities under Reverse Repurchase Agreements		-	3,506,594	-	3,506,594	3,506,594	-	830,880	-	830,880	830,880
Investment in Unit Trusts		-	1,908,342	-	1,908,342	1,908,342	-	543,656	-	543,656	543,656
Financial Assets Recognised Through Profit or Loss	FVTPL	14,674	-	-	14,674	14,674	10,653	-	-	10,653	10,653
Financial Assets at Amortised Cost - Loans and Receivables	Amortised Cost			163,299,074	163,299,074	161,291,486	-	-	136,097,659	136,097,659	145,189,174
Financial Assets Measured at Fair Value Through Other Comprehensive Income	FVOCI					-	-	-	-	-	-
Quoted Equities		118,282	-	-	118,282	118,282	117,083	-	-	117,083	117,083
Unquoted Equities		-	-	305	305	305	-	-	305	305	305
Other Financial Assets	Amortised Cost	11,052,693	9,380,474	-	20,433,167	20,374,770	7,578,396	14,147,257	-	21,725,653	21,685,834
		15,085,138	14,795,410	163,299,379	193,179,927	191,113,942	10,855,628	15,521,793	136,097,964	162,475,385	171,527,081
Financial Liabilities
Due to Banks	Amortised Cost	-	22,837,782	-	22,837,782	21,702,012	-	17,488,092	-	17,488,092	19,369,784
Financial Liabilities at Amortised Cost - Due to Depositors	Amortised Cost	-	-	125,962,340	125,962,340	122,808,124	-	-	111,849,395	111,849,395	114,011,699
Debt Instruments Issued and Other Borrowed Funds	Amortised Cost	-	5,703,189	-	5,703,189	5,491,401	-	3,775,257	-	3,775,257	3,882,024
Other Financial Liabilities	Amortised Cost	-	3,757,777	-	3,757,776	3,757,776	-	3,255,862	-	3,255,862	3,255,862
		-	32,298,748	125,962,340	158,261,087	153,759,313	-	24,519,211	111,849,395	136,368,606	140,519,369

There were no transfers into and transfers out of the hierarchy levels during periods reported herein.

FAIR VALUE MEASUREMENT HIERARCHY - GROUP

		Fair Value Measurement Using			Fair Value Measurement Using
	Financial	Quoted Prices in	Observable	Unobservable			Quoted Prices in	Observable	Unobservable
	Instruments	Active Markets	Inputs	Inputs			Active Markets	Inputs	Inputs
	Measurement Basis	Level 1	Level 2	Level 3	Total Fair Value	Carrying Value	Level 1	Level 2	Level 3	Total Fair Value	Carrying Value
		Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000
Financial Assets
Cash and Cash Equivalents	Amortised Cost
Notes and Coins Held		1,996,870	-	-	1,996,871	1,996,871	1,830,304	-	-	1,830,304	1,830,304
Balances with Banks		2,006,666	-	-	2,006,666	2,006,666	1,357,186	-	-	1,357,186	1,357,186
Securities under Reverse Repurchase Agreements		-	3,647,723	-	3,647,723	3,647,723	-	949,809	-	949,809	949,809
Investment in Unit Trusts		-	1,908,342	-	1,908,342	1,908,342		543,656		543,656	543,656
Financial Assets Recognised Through Profit or Loss	FVTPL	14,674	-	-	14,674	14,674	10,653	-	-	10,653	10,653
Financial Assets at Amortised Cost - Loans and Receivables	Amortised Cost			164,628,421	164,628,421	162,521,733	-	-	137,280,084	137,280,084	146,371,597
Financial Assets Measured at Fair Value Through Other Comprehensive Income	FVOCI				-	-	-	-	-	-	-
Quoted Equities		118,282	-	-	118,282	118,282	117,083	-	-	117,083	117,083
Unquoted Equities		-	-	307	307	307	-	-	307	307	307
Other Financial Assets	Amortised Cost	11,101,074	9,400,728	-	20,501,802	20,443,404	7,546,614	14,164,195	-	21,710,810	21,710,810
		15,237,566	14,956,793	164,628,728	194,823,088	192,658,002	10,861,840	15,657,660	137,280,391	163,799,892	172,891,405
Financial Liabilities
Due to Banks	Amortised Cost	-	23,342,577	-	23,342,577	21,955,857	-	17,532,436	-	17,532,436	19,392,536
Financial Liabilities at Amortised Cost - Due to Depositors	Amortised Cost	-	-	126,339,594	126,339,594	123,034,547	-	-	112,236,779	112,236,779	114,248,253
Debt Instruments Issued and Other Borrowed Funds	Amortised Cost	-	5,703,189	-	5,703,189	5,491,401	-	3,775,257	-	3,775,257	3,882,024
Other Financial Liabilities	Amortised Cost	-	3,815,898	-	3,815,898	3,815,897	-	3,283,059	-	3,283,059	3,283,059
		-	32,861,664	126,339,594	159,201,258	154,297,702	-	24,590,752	112,236,779	136,827,531	140,805,872

There were no transfers into and transfers out of the hierarchy levels during periods reported herein.

LB FINANCE PLC

SEGMENTAL INFORMATION

For management purposes, the Group is organised into four operating segments based on services offered and geographical operations as follows. The following table presents income, profit, asset and liability information of the Group's operating segments.

	Leasing	Loans and Advances	Others	International Operation	Total
		Audited		Audited		Audited		Audited		Audited
	31.03.2024	31.03.2023	31.03.2024	31.03.2023	31.03.2024	31.03.2023	31.03.2024	31.03.2023	31.03.2024	31.03.2023
	Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)
Interest Income	9,644,208	9,395,408	32,453,545	26,877,211	3,868,628	3,483,857	272,806	217,079	46,239,187	39,973,555
Less: Interest Expenses	3,895,742	4,569,051	14,159,720	12,786,012	3,346,124	3,296,192	59,045	12,701	21,460,631	20,663,956
Net Interest Income	5,748,466	4,826,357	18,293,825	14,091,199	522,504	187,665	213,761	204,378	24,778,556	19,309,599
Fee and Commission Income	631,778	549,700	2,555,834	2,408,464	1,157	7,078	28,691	21,160	3,217,460	2,986,402
Net Trading Income and Other Operating Income	5,522	4,782	105,645	113,040	68,063	55,288	(106)	376	179,124	173,486
Total Operating Income	6,385,766	5,380,839	20,955,304	16,612,703	591,724	250,031	242,346	225,914	28,175,140	22,469,487
Less: Impairment Charges	(390,545)	(137,134)	591,078	661,804	61,137	22,596	8,423	(28,133)	270,093	519,133
Net Operating Income	6,776,311	5,517,975	20,364,226	15,950,899	530,587	227,435	233,923	254,047	27,905,047	21,950,354
Less: Other Costs	1,751,379	1,727,877	6,082,942	4,676,015	43,424	32,541	168,873	145,812	8,046,618	6,582,245
Less: Depreciation and Amortisation	164,983	199,311	719,464	640,926	2,817	2,833	6,497	4,369	893,761	847,439
Operating Profits before Taxes	4,859,949	3,590,787	13,561,820	10,633,958	484,346	192,061	58,553	103,866	18,964,668	14,520,670
Less: Taxes	2,376,957	1,485,407	6,632,965	4,398,971	236,890	79,449	10,845	3,957	9,257,657	5,967,784
Profits for the Year	2,482,992	2,105,380	6,928,855	6,234,987	247,456	112,612	47,708	99,909	9,707,011	8,552,886
Less: Non-Controlling Interest									(6,906)	(1,657)
Profit Attributable to Equity Holders of the Company									9,713,917	8,554,543
Profits for the Year									9,707,011	8,552,886
								`
Segmental Assets	31,422,342	35,988,682	138,273,646	117,445,066	32,922,858	29,536,851	1,229,125	995,305	203,847,971	183,965,904
Elimination	-	-	-	-	(700,085)	(947,837)	-	-	(700,085)	(947,837)
Total Segmental Assets	31,422,342	35,988,682	138,273,646	117,445,066	32,222,773	28,589,014	1,229,125	995,305	203,147,886	183,018,067
Segmental Liabilities	24,811,494	28,714,164	109,164,548	93,591,570	24,742,218	22,146,583	422,783	163,623	159,141,043	144,615,940
Elimination	-	-	-	-	(1,150)	-	-	(25,839)	(1,150)	(25,839)
Total Segmental Liabilities	24,811,494	28,714,164	109,164,548	93,591,570	24,741,068	22,146,583	422,783	137,784	159,139,893	144,590,101

Management monitors the operating results of its business units separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on operating profits or losses which, in certain respects, are measured differently from operating profits or losses in the financial statements.

No revenue from transactions with a single external customer or counterparty amounted to 10% or more of the Company's total revenue during the year ended 31 March 2024 or 2023.

LB FINANCE PLC

Interim Financial Statements for the Year ended 31 March 2024

EXPLANATORY NOTES

01. The accounting policies followed in preparing the above Interim Financial Statements are the same as those disclosed in our Annual Report for the year ended 31 March 2023.

02. These Interim Financial Statements have been prepared in compliance with the requirements of Sri Lanka Accounting Standards - LKAS 34 Interim Financial Reporting.

03. In furtherance of the Financial Sector Consolidation Plan of the Central Bank of Sri Lanka, the Boards of Directors of L B Finance PLC and its subsidiary, Multi Finance PLC, have resolved to amalgamate Multi Finance PLC with L B Finance PLC under Section 239 of the companies Act No.07 of 2007, whereby L B Finance PLC will be the Amalgamated Company, subject however to the regulatory approvals and the approval of the shareholders of both Multi Finance PLC and L B Finance PLC, by way of Special Resolutions at Extraordinary General Meetings of the respective companies.

The in-principle approval of the Central Bank of Sri Lanka has been received for the amalgamation. The shares of Multi Finance PLC will not be converted to shares of L B Finance PLC. lnstead, the shareholders of Multi Finance PLC except L B Finance PLC will be paid a cash consideration of Rs.4/50 for each share held by the said shareholders in Multi Finance PLC.

The cash consideration was determined pursuant to a valuation of the shares of Multi Finance PLC carried out by its Auditors, Messrs KPMG, Chartered Accountants, based on the net book value of Multi Finance PLC as of 30 September 2023.

04. The Commitments and Contingencies as at 31 March 2024 was Rs. 2,282 Mn and as at 31 March 2023 was Rs. 2,404 Mn.

INFORMATION ON SHARES AND LISTED DEBENTURES
INFORMATION ON SHARES			For the Quarter ended
			31.03.2024	31.03.2023
Share Price	Highest	Rs.	65.40	56.50
	Lowest	Rs.	58.00	36.50
	Last Traded	Rs.	62.80	55.00
Number of Ordinary Shares Issued			554,057,136	554,057,136
			As at
			31.03.2024	31.03.2023
Ratios
Debt Equity Ratio			60.54%	67.79%
Quick Asset Ratio			23.13%	22.74%
Interest Cover			1.71	1.57
SELECTED PERFORMANCE INDICATORS
			As at
			31.03.2024	31.03.2023
Capital Adequacy
Core Capital to Risk Weighted Asset Ratio (Minimum 10%)			24.48%	30.50%
Total Capital to Risk Weighted Asset Ratio (Minimum 14%)			25.23%	31.13%
Capital Funds to Total Deposit Liabilities Ratio (Minimum 10%)			35.52%	33.43%
Profitability
Return on Average Shareholders' Funds (After Tax)			23.40%	23.78%
Return on Average Assets (After Tax)			4.97%	4.88%
Asset Quality
Gross Non-Performing Accommodations Ratio			3.54%	4.45%
Net Non-Performing Accommodations Ratio			-0.79%	-0.65%
Liquidity (Rs. Mn)
Required Minimum Amount of Liquid Assets			12,582	11,528
Available Amount of Liquid Assets			26,056	22,018
Required Minimum Amount of Government Securities			7,897	6,725
Available Amount of Government Securities			18,953	12,283

LB FINANCE PLC

Additional Notes

Twenty largest shareholders as at 31 March 2024

	Name		No. of Shares	(%)
1	Vallibel One PLC		286,729,600	51.751
2	Royal Ceramics Lanka PLC	125,708,928	144,492,928	26.079
	Commercial Bank of Ceylon PLC/Royal Ceramics Lanka PLC	18,784,000
3	Esna Holdings (Pvt) Ltd		21,249,600	3.835
4	Mr. W.G.D.C Ranaweera		8,868,376	1.601
5	Mr. K.R.E.M.D.M.B.Jayasundara		5,956,152	1.075
6	Mr K.D.A. Perera		4,289,735	0.774
7	Mr. G.A. Bhanuka Harischandra		3,671,052	0.663
8	J.B. Cocoshell (Pvt) Ltd		3,340,958	0.603
9	Seylan Bank PLC/W.G.U.I. Ranaweera		2,884,000	0.521
10	Mr N. Udage		2,861,235	0.516
11	David Pieris Holdings (Private) Limited		2,000,000	0.361
12	Janashakthi Insurance PLC-Shareholders		1,952,700	0.352
13	Rubber Investment Trust Ltd A/C No 01		1,900,000	0.343
14	Mr. F.N. Herft		1,751,100	0.316
15	Hatton National Bank PLC-Senfin Growth Fund		1,400,000	0.253
16	N P Capital Ltd		1,393,058	0.251
17	Mr. M.A.T. Raaymakers		1,267,245	0.229
18	Mr. A.A. Page		1,259,200	0.227
19	Commercial Bank of Ceylon PLC/G.S.N.Peiris		1,027,869	0.186
20	Asia Securities (Pvt) Ltd (Trading Account)		1,000,000	0.180
			499,294,808	90.116
	Others		54,762,328	9.884
	Total		554,057,136	100.000
	Directors' and Chief Executive Officer's holding in shares as at 31 March 2024
	Name		No. of Shares	(%)
	Mr. G A R D Prasanna		-	-
	Mr. J A S S Adhihetty		424,480	0.077
	Mr. N Udage		2,861,235	0.516
	Mr. B D A Perera		-	-
	Mr. R S Yatawara		8,593	0.002
	Mrs. Y Bhaskaran		-	-
	Mr. M A J W Jayasekara		-	-
	Mrs. Ashwini Natesan		-	-
	Mr. D Rangalle		-	-
	Ms. Yanika Amarasekara		-	-

Public Holding percentage as at 31 March 2024 being 21.39% comprising of 5,014 shareholders.

The Float adjusted market capitalisation as at 31 March 2024 - Rs.7,432,197,418.80/-

The Float adjusted market capitalization of the Company falls under Option 3 of Rule 7.13.1 (i) (a) of the Listing Rules of the Colombo Stock Exchange and the Company has complied with the minimum public holding requirement applicable under the said option.