Asia Asset Finance celebrates new milestone with 75th branch opening in Homagama

Tuesday, 2 May 2023 01:49 - - {{hitsCtrl.values.hits}}

Asia Asset Finance PLC, 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 it has announced its plans to inaugurate 15 more branches across the country over the next nine 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.

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.”

AAF’s 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 Rs. 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 Rs. 3 trillion larger than most commercial banks in Sri Lanka.