Asia Commerce rebrands as Divasa Finance

Wednesday, 17 August 2011 00:00 - - {{hitsCtrl.values.hits}}

Asia Commerce Limited has now been rebranded as Divasa Finance Limited which also coincides with the moving of its city office to a more spacious and convenient location with ample parking facilities to serve customers more efficiently.

The new office is located on the now widened Station Road, Colpetty, and is accessible from both Galle Road and Marine Drive.

Central Bank Governor Nivard Cabraal was the chief guest at the opening.

Speaking about the rebranding, Divasa Finance CEO and Director Lakshman Uduwara said: “The fact that we are now a finance company registered with the Central Bank required our vision to be restated with an improved corporate profile and poise ourselves to deliver up to new expectations.

Rebranding our image with a totally new identity was essential to fulfill these aspirations.”

He further explained that Divasa in vernacular means the third eye or having the ability to discern the future and hence the adoption of the name. The company’s product range now includes finance and operating leases, hire purchase, short term trade finance, medium term loans, cheques and trade bill discounting and margin trading.

The company also recorded a very impressive performance in the financial year ended March 31st, 2011 with unprecedented profits being recorded. Advances and deposits recorded encouraging growth and though advances have increased the quality of assets has been retained as indicated in the NPA ratio of 3.6 % as at June 30th, 2011.

“Our Board has always encouraged reaching out to more clientele offering our financial services to make their dreams become a reality. To compliment this policy our 4th branch will be opened on August 24th in Kalutara. The company has plans to open one more branch before the end of the year,” Mr Uduwara .

The business initially commenced in May 2005 as a specialized leasing company under the name “Asia Commerce Limited.

The company received a finance company license on May 23rd, 2011 and will now be known as Divasa Finance Limited.