News & market updates

L B Finance PLC reported a 31% rise in PAT to Rs. 3.54 billion for Q1 ended 30 June 2026. Total income rose 47% to Rs. 18.76 billion, loans expanded to Rs. 341.96 billion, NPL ratio improved to 1.41% and capital ratios remained above regulatory minima.

Minority shareholders of Associated Motor Finance (AMF.N0000) say the proposed amalgamation with L B Finance (LFIN.N0000) undervalues AMF and have asked the SEC and CSE to review the Rs.55 per-share cash consideration; CBSL said pricing is outside its remit.

Associated Motor Finance (AMF) will amalgamate with parent L B Finance (LFIN) effective 31 July; AMF shares will be suspended after market close on 27 July and AMF minority shareholders will receive Rs.55 per share. LB Finance will absorb AMF's business and cancel the shares it holds.

Associated Motor Finance Company PLC will amalgamate with L B Finance PLC effective July 31, 2026, with AMF shares suspended after trading on July 27. L B Finance made a voluntary offer in Oct 2025 to buy 113,327,268 AMF shares at Rs.50 (100% of issued capital).

Colombo Stock Exchange closed down as the ASPI fell 0.19% (43.18 points) to 22,178.73 on turnover of Rs.1.54 billion. Asia Asset Finance announced GM and rights timetable and Associated Motor Finance said its merger with L B Finance will become effective by 31 July 2026.

Colombo Stock Exchange closed down as the ASPI fell 0.40% (85.54 points) to 21,461.63, with market turnover of 1.67 billion rupees. Bukit Darah, John Keells, Aitken Spence and Associated Motor Finance were positive contributors while C T Holdings and Melstacorp were among the largest decliners; capital goods led turnover at 469.3 million rupees.

L B Finance PLC reported pre-tax profit of Rs.25.01 billion for the year ended 31 Mar 2026 (up 22%) and remitted Rs.13.72 billion in taxes. Loans expanded 58% to Rs.312.66 billion, group assets rose to Rs.415.57 billion, and the acquisition of AMF added ~Rs.17.2 billion in loans.

L B Finance PLC reported a pre-tax profit of Rs. 25.01 billion for the year ended 31 Mar 2026 (up 22%) and PAT of Rs. 13.67 billion (up 27%). The company expanded loans to Rs. 312.66 billion, fully consolidated Associated Motor Finance (AMF) and is nearing regulatory approval for entry into the Philippines.

LB Finance PLC will merge with its subsidiary Associated Motor Finance Company PLC; AMF shareholders (except LB) will be paid Rs.55 per AMF share in cash. The CBSL has approved the amalgamation, and shareholder approvals at EGMs are required; LB's 73% stake will be cancelled on completion.

L B Finance PLC reported PAT of Rs. 8.93 billion for the nine months to 31 Dec 2025, up 24% YoY, with total assets of Rs. 349.4 billion. Group PAT was Rs. 9.04 billion, income rose 23% to Rs. 42.57 billion, and the company acquired a controlling stake in Associated Motor Finance while expanding into the Philippines.

LB Finance completed acquisition of a 73.11% stake in Associated Motor Finance for over Rs.4.1 billion, raising its holding to more than 82.8 million AMF shares. The deal followed a mandatory offer of Rs.50 per share for 100% of AMF.

Associated Motor Finance Company PLC appointed G.A.R.D. Prasanna as Chairman and Niroshan Udage as Deputy Chairman following its acquisition by L B Finance PLC. Both appointees are LB Finance executives; other board members named include Piyal Hennayake, B.D.A. Perera, Ashwini Natesan and Prof. Nandika Kasun De Zoysa.

LB Finance PLC said the SEC granted AMF an additional four calendar days to circulate the Independent Advisor’s Report and the AMF Board’s views, and extended the voluntary offer closing date to 4:30 p.m. on 24 November 2025; all other offer terms remain unchanged.

LB Finance (LFIN) has moved to fully acquire Associated Motor Finance (AMF) via a mandatory offer effective 29 Oct at Rs.50 per share for 113 million shares, with the Central Bank expecting the merger to complete by 31 Mar 2027. First Capital Research says the deal could add about Rs.25bn to LFIN's loan book by FY27E and support continued loan growth.

LB Finance converted its voluntary offer to acquire 100% of Associated Motor Finance into a mandatory offer after shareholders holding 65.6% accepted; the offer covers 113,327,268 shares at Rs.50 each (about Rs.5.6bn) and takes effect from 29 October.