Q: Asia Asset Finance (AAF) is a key player in the financial sector with a rich legacy and strong partnership with Muthoot Finance. Can you share an overview of the company’s journey, achievements and what sets it apart in the industry?

A: With a 54 year legacy, Asia Asset Finance is the only Sri Lankan subsidiary of global giant Muthoot Finance. With 100 branches nationwide, we champion financial inclusion, female empowerment and rural access to finance.

Our ‘A+’ rating by Fitch reflects financial stability while being a certified ‘Great Place To Work’ underscores our inclusive culture, which nurtures talent and leadership. Moving toward 100 percent paperless operations, we lead with innovation, sustainability, and a passion for making a lasting impact on our customers, employees and communities.

Q: What does the 10th anniversary for Muthoot Finance’s and AAF’s partnership signify, and how has the latter company evolved over the past decade?

A: The anniversary is a celebration of trust, transformation and trailblazing success. It marks a decade of unparalleled synergy between Muthoot Finance’s global expertise and Asia Asset Finance’s deep local insights.

Over the years, we have grown into a network of 100 branches across Sri Lanka, built on a 54 year legacy, and have become a household name in financial empowerment, specialising in semi-rural and rural areas. This partnership has driven our evolution from a traditional lender into an innovative, inclusive financial institution.

Q: How has the company’s approach to the Sri Lankan market changed over the years?

A: Our approach has been revolutionary – we’ve shifted from conventional offerings to becoming a leader in financial inclusion and digital innovation. By strategically opening branches in rural and semi-rural areas, we’ve brought banking to the unbanked.

With initiatives such as going 100 percent paperless, we’re not simply meeting the market’s needs but reshaping its expectations, blending sustainability with convenience and protecting it from being exposed to unregulated financial practices.

Q: In what way has being a part of Muthoot Finance contributed to Asia Asset Finance’s success and credibility in the Sri Lankan financial sector?

A: Muthoot Finance has been a game changer for us. As the only Sri Lankan subsidiary of this global giant, we’ve gained access to its over 130 year legacy of trust and innovation.

This has amplified our credibility, bolstered our financial strength and allowed us to bring world-class solutions to Sri Lanka. It’s a relationship that empowers us to innovate fearlessly and deliver consistently.

Q: Fitch Ratings has rated the organisation ‘A+.’ What does this rating signify about the company’s financial health and stability?

A: This is a testament to our financial excellence and stability. It’s a signal to our stakeholders that Asia Asset Finance is financially stable and has sound business practices, while having unparalleled support and assistance from our group Muthoot Finance.

This reflects our ability to deliver sustainable growth while withstanding external challenges in macroeconomic conditions, ensuring trust and confidence in everything we do.

Q: Can you highlight the importance of the Great Place To Work certification and what it means for your corporate culture?

A: Being certified a Great Place To Work isn’t just an honour – it’s who we are. It showcases our commitment to fostering an environment where every employee thrives.

We’re particularly proud of our focus on female empowerment. Our company has a composition of almost 50 percent female staff, creating a culture where leadership is inclusive and opportunities are boundless. This certification underlines our belief that happy, motivated teams drive great businesses.

Q: How has your financial performance been since partnering with Muthoot Finance and how have you performed this year?

A: Muthoot Finance has high expectations of its subsidiaries both operationally and in terms of financial performance. AAF has continuously been a profitable entity since Muthoot Finance’s takeover in 2014.

AAF has been consistent in terms of profitability despite the economic chaos in the country over the past few years and in the current financial year, we exceeded expectations and maintained a healthy return on equity (ROE) of over 15 percent profit after tax (PAT) of Rs. 301.06 million.

We have also seen our loan portfolio grow by 5.5 billion rupees and the overall asset base increase to Rs. 32.28 billion while maintaining a healthy capital adequacy ratio (CAR) of 23.34 percent.

Q: What strategic priorities does Asia Asset Finance have as you look forward to the next decade?

A: The next decade is about bold growth and sustainable innovation. We aim to expand beyond 100 branches, enhance our digital offerings, and reduce our carbon footprint through automation and sustainable financing.

Our focus on financial inclusion, especially in rural areas, will remain steadfast, alongside strengthening our CSR initiatives and driving exceptional financial performance.

Q: How do you plan on leveraging your current success to continue growing and innovating in the financial sector?

A: Our key objective is to continue to serve the people of Sri Lanka with honesty and integrity through our success – which is a key learning from Muthoot Finance. Our measure of success is not limited to financial performance but extends to customer experience and satisfaction.

Therefore, we hope to be one of the leading financial institutions in Sri Lanka that will continue to help reduce the exploitation of citizens through unregulated financial practices and build innovative products that will pave the way for sustainable financial solutions to improve livelihoods.

– Compiled by Nirmali Ameresekere
COMPANY DETAILS

Telephone: 7699000 | Email: info@asiaassetfinance.lk | Website: www.asiaassetfinance.com