In a remarkable demonstration of growth and commitment to financial inclusion, Asia Asset Finance PLC, the only Sri Lankan subsidiary of the global giant Muthoot Finance PLC, has expanded its footprint across Sri Lanka. The company has opened three new branches in strategic locations and relocated their Galle branch to a Premier status, all within a single week. This rapid expansion underscores the company's dedication to empowering women and bringing financial services to underserved populations.
The new branch openings in Ambalanthota, Elpitiya, and Ampara, along with the relocation of the Galle Premier Centre, took place in July 2024. These locations were carefully chosen to serve vibrant populations of Sri Lankans, many of whom aspire to achieve their dreams with the help of accessible financial services. These areas are bustling with activity and are home to a significant number of women eager to participate in the financial sector. Asia Asset Finance PLC's strategic focus on these regions aligns with its mission to promote women's empowerment and financial inclusion.
An impressive 51% of Asia Asset Finance PLC’s staff members are women, reflecting the company's commitment to gender diversity and empowerment in the workplace. Additionally, over 20% of its customers are engaging with the regulated financial sector for the first time through Asia Asset Finance, marking a significant step towards financial inclusivity in Sri Lanka. This achievement highlights the company's role in transforming the financial landscape, making it more inclusive and accessible.
Asia Asset Finance PLC is not only committed to financial inclusion and empowerment but also holds an A+ rating from Fitch, a mark of excellence in the financial industry. Furthermore, the company has been recognized as 'A Great Place to Work,' underscoring its dedication to creating a positive and supportive work environment for its employees.
The rapid expansion has also contributed to the company’s growth in other areas. Asia Asset Finance PLC’s staff community has grown by 20%, supporting its expanding operations and customer base. Moreover, the company's asset base has exceeded LKR 30 billion for the first time, a testament to its robust financial health and strategic growth initiatives.
Reflecting on the recent expansion, CEO Rajiv Gunawardena stated, “We are proud to have achieved 88 branches so far, most of them during challenging periods. 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 in improving their livelihoods. We expect to continue this expansion plan where we will be 100 branches strong by the end of the financial year.” This ambitious vision from the CEO highlights Asia Asset Finance PLC's unwavering commitment to extending its reach and impact across Sri Lanka. By continually expanding its network, the company is not only growing its business but also enhancing the lives of countless Sri Lankans through accessible and sustainable financial services.
Asia Asset Finance PLC’s recent branch openings and relocations are more than just an expansion of physical locations; they represent a significant stride towards a more inclusive and financially empowered Sri Lanka. With a strategic focus on women empowerment and first-time finance customers, the company is setting a benchmark for sustainable growth and social responsibility in the financial sector. As Asia Asset Finance PLC moves from strength to strength, it remains a beacon of progress and inclusivity in Sri Lanka’s financial landscape.
