Asia Asset Finance PLC (AAF) has announced a stellar financial performance for the nine months ending December 31, 2024, with the total asset base of AAF has surged to an impressive LKR 34.48 billion, reflecting a remarkable 33.2% increase compared to the previous year.
This growth has been bolstered by a robust expansion of the loan portfolio, which grew by LKR 7.8 billion to reach LKR 28.4 billion. The company’s profitability also witnessed an extraordinary boost, with profit after tax rising to LKR 500.97 million a staggering 123.54% year-on-year improvement.
AAF has maintained its reputation for financial prudence by achieving a healthy impairment ratio of 37.68%, demonstrating its effective credit risk management practices. Additionally, the return on equity (ROE) stands at a strong 16.81%, underscoring efficient utilization of shareholder funds. This transition has reduced paper usage in these areas to less than 1%, exemplifying AAF’s commitment to sustainable business practices. The company’s capital adequacy ratio (CAR) remains well above statutory requirements at 22.72%, while the net interest margin (NIM) was sustained at a solid 9.42%, reflecting consistent profitability from core operations.
In a significant move toward enhancing customer accessibility, AAF expanded its branch network to 100 locations, adding nine new branches in the last quarter alone. Adding to its financial achievements, AAF continues to enjoy a Fitch Rating of A+ with a stable outlook, reflecting its financial stability and sound governance framework.
CEO of Asia Asset Finance PLC, Rajiv Gunawardana said, “These outstanding results highlight our dedication to delivering value to our stakeholders while driving sustainable growth. Our strategic focus on innovation, operational excellence, and expanding our footprint ensures that we remain a trusted financial partner for customers across Sri Lanka.”
With its strong performance in the third quarter of FY 2024/25, Asia Asset Finance PLC is poised for continued success.
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