Asia Asset Finance PLC, Sri Lanka’s gold-focused financial solutions provider has concluded FY 2022/23 having delivered outstanding performances across a range of financial KPIs, measured year-over-year (YOY), amidst Sri Lanka’s unprecedented economic crisis and their total profitability increased to LKR 284 million. This is with a YOY Growth of 139%.
Total Assets Reached LKR 25 billion (YoY Growth 29%) while Total Number of Branches Reached 75 (YOY growth 27%). Asia Asset Finance’s total ‘Fixed Deposit Base’ increased to Rs 13.2 billion (YOY Growth 52%) while Total Number of Customers increased by 10,502.
With a 52-year history, one of the key highlights of Asia Asset Finance PLC performance is the impressive growth in Earnings Per Share (EPS), which soared by an incredible 150%.
This significant increase reflects the company’s ability to generate substantial returns for its shareholders. Furthermore, the company’s Asset Base has surpassed an impressive milestone of Rs 25 billion, showcasing its robust financial position and steady growth trajectory. Asia Asset Finance PLC’s net profit also witnessed a remarkable growth, increasing by 139% during FY 2022/23. This notable achievement speaks volumes about the company’s effective strategies and positioning in the market. An essential factor contributing to Asia Asset Finance PLC’s
success is its expanding Deposit Base, which grew by 50% during the year. Asia Asset Finance PLC also made notable strides regarding expanding its presence. The company’s dedication to serving customers across Sri Lanka was clearly evident as its branch network grew to reach an impressive 75 locations across the Island. This expansion reflects Asia Asset Finance PLC’s commitment to providing accessible financial solutions to all Sri Lankans.
CEO, Rajiv Gunawardena expressed his positive sentiments saying, “This year, we have been able to achieve significant growth and performance that has exceeded investor and market expectations due to our concentrated focus on secured lending focusing on gold-based financial services and effective cost control mechanisms adopted through a digitized operational environment.”
“Gold continues to remain one of the most in demand assets in the market, and thus we have been able to deliver exceptional value to our customers and investors. Our branch expansion in the rural and semi urban areas have allowed meeting our objectives in expanding our reach to much needed communities and transforming AAF service to a more female focused service model helping in meeting the objectives of women empowerment and financial inclusion.”
Wednesday, May 31, 2023 – 01:00