Asia Asset Finance PLC, Sri Lanka’s leading gold-focused financial solutions provider, has reached a significant milestone by opening its 75th branch in Homagama. This achievement is part of the company’s strategic network expansion drive, and the Company has announced its plans to inaugurate 15 more branches across the country over the next 09 months.
Following on with its network expansion strategy, during 2022 alone, Asia Asset Finance PLC expanded its island-wide network to 70 locations, adding 15 new branches in diverse locations across the country, namely Wattegama, Pusellawa, Bogawanthalawa, Grandpass, Kanthale, Potuvil, Welimada, Haputale, Agarapathana, Achchuveli, Cheddikulam, Mattakkuliya, Manipai, Elakanda, and Hawaeliya. These locations were strategically chosen with the objective of women empowerment and financial inclusion , while also being home to vibrant populations of Sri Lankans aspiring to achieve their dreams in life. AAFs main customers consist of females with 51% and over 40% of its customers serviced are banking in the regulated financial sector for the first time. This is a remarkable achievement and underscores Asia Asset Finance PLC’s commitment to sustainable and inclusive financial services in Sri Lanka. Moving from strength to strength, driven by the company’s expansion efforts, Asia Asset Finance PLC’s staff community also grew by 20%, while the Company’s asset base exceeded LKR 25 billion for the first time as well.
With over 52 years of experience, Asia Asset Finance PLC is the only gold-focused financial solutions provider in Sri Lanka, and is backed by its parent company, Muthoot Finance, a global financial services giant based in India. Muthoot Finance is one of the world’s largest gold financing companies, with assets worth nearly LKR 3 trillion. larger than most commercial banks in Sri Lanka.
Commenting on the Company’s network expansion efforts, CEO Rajiv Gunawardena said “ We are proud to have achieved 75 Branches during this challenging period, our objective is to ensure we have sufficient reach amongst Sri Lankans to allow them to access our unique and customer friendly financial products, which will assist them to improve their livelihoods. We expect to continue this expansion plan for the year 2023.”
Asia Asset Finance PLC is a Non-Banking Financial Institution (NBFI) and a Licensed Finance Company (LFC), registered with the Central Bank of Sri Lanka, having commenced operations in 1970, with a focus on Gold-Based Financial Products and Services, catering to both depositors and borrowers. Asia Asset Finance’s wide array of financial services includes Gold Loans, Fixed Deposits, Mortgages and Digital Financial Services via the Asia Asset Finance App.
