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Sunday Nov 17, 2024
Wednesday, 27 January 2016 00:00 - - {{hitsCtrl.values.hits}}
AMWCL, having commenced fixed deposit mobilisation in the latter part of 2013 announced the achievement of Rs. 2.74 billion in public deposits to end the 2015 year with a successful note. This growth of 192% over the similar period in 2014 reflects the public trust and confidence in the company and the people behind it.
AMWCLF PLC is the only finance company owned by Associated Motorways Ltd., popularly known as AMW, which is a fully-owned subsidiary of the Al-Futtaim Group, UAE.
As the only finance company within the AMW Group, AMW Capital Leasing & Finance PLC commenced operations as a specialised leasing company in 2006, to enhance and addvalue to automobile operations of the group. Subsequently the company obtained license in 2009 from the Monetary Board of the Central Bank of Sri Lanka to conduct finance business which included deposit mobilisation.
Elaborating on this achievement the company’s Director/CEO Brandon Morris said: “We are very pleased to have ended the year with this result after having surpassed the Rs. 1 billion mark only in March 2015.”
AMWCL is listed under Diri Savi Board of the Colombo Stock Exchange with a current asset base of Rs. 9.65 billion anda NPL ratio very well below the industry average, reflecting the high asset quality of the company.
Further, the company has been assigned and affirmed a credit rating of BBB +(lka) Stable Outlook by Fitch Ratings Lanka Ltd. due to its financial stability and Group synergy.
AMWCL has a network of 20 branches and service centres islandwide, offering financial products from fixed depositsto leasing, hire purchase, auto loans, working capital loans, micro finance and Islamic finance.
