Asia Asset Finance PLC total asset base has expanded to Rs. 32.28 billion (USD 107.188 million), a 24.74% year-on-year growth.
The loan portfolio grew by Rs. 5.5 billion (USD 18.26 million), reaching a total lending base of Rs. 26.1 billion (USD 86.67 million). These results underscore the company’s customer-centric approach and its success in delivering innovative lending solutions tailored to market needs, said CEO of Asia Asset Finance PLC, Rajiv Gunawardena.
He was speaking at the 10th year commemoration ceremony between Muthoot Finance, an Indian non-banking financial company and its Sri Lankan subsidiary, Asia Asset Finance PLC.
“Over the past decade, we have achieved tremendous milestones. As we look to the future, we remain focused on delivering impactful solutions and continuing our journey of innovation and growth,” Gunawardena said.
Over the past 10 years, this collaboration has revolutionised financial services across borders, fostering financial inclusion, delivering innovative solutions and empowering communities through impactful initiatives, he said.
The partnership has achieved remarkable milestones, demonstrating a shared commitment to excellence and growth. As of September 30, 2024, the company’s Return on Equity (ROE) reached 16.38%, reflecting a 102% year-on-year increase. This performance highlights Asia Asset Finance’s robust financial strategy and its ability to drive value for shareholders while maintaining a strong focus on sustainable growth.
At the parent company level, Muthoot Finance continues to set benchmarks in the financial sector. Its consolidated Loan AUM has reached an extraordinary INR 1,041.49 billion (USD 12.6 billion), recording a 31% growth. The company also reported a Profit After Tax (PAT) of INR 25.17 billion (USD 304 million). With a branch network of 7,097 locations serving over 250,000 customers daily, Muthoot Finance has cemented its position as the largest gold loan provider in India among NBFCs and banks.
Asia Asset Finance PLC now operates a robust 100-branch network across Sri Lanka, ensuring accessibility and a strong local presence. This extensive network has been instrumental in introducing innovative financial solutions while building trust within the communities it serves. The company’s Fitch Credit Rating of A+ and recognition as a ‘Great Place to Work’ further validate its dedication to excellence and employee engagement.
Group Managing Director of Muthoot Finance Ltd, George Alexander Muthoot said, “This milestone is testament to our unwavering commitment to empowering lives and transforming communities. Together, we’ve built a partnership rooted in trust and innovation, and we look forward to deepening our impact in the years to come.”
