Asia Asset Finance PAT soars over 328% (YOY), asset base grown by 25% in first half of FY 2022/23

* PBT- 197.5%

* CAR- 25.44%

* Gold Loan Growth- 71.63%

* New branch total 65

Asia Asset Finance PLC, Sri Lanka’s only gold-focused financial solutions provider with a history spanning 52 years, posted an impressive 328.57% growth in Profit After Tax (PAT) Year on Year . Accordingly, the Company recorded a PAT of LKR 150 million, up from just LKR 35 million in the corresponding period in the year prior.

Net Interest Income too rose by 79.72% during the period under review to LKR 913 million, against LKR 508 million previously, on the back of a tighter monetary environment. Also, notably, during the 6 months ended 30th September 2022, Asia Asset Finance PLC was able to successfully expand its branch network to 65 locations islandwide, up from 45 locations at the end of September 2021.

Asia Asset Finance PLC has established itself as a premier licensed finance company in Sri Lanka with an extensive array of gold-focused financial products and services, and an asset base that exceeds LKR 22 billion, up from LKR 17.7 billion at the end of September 2021, an increase of 25%. Asia Asset Finance PLC is owned by Muthoot Finance, an India-based global financial services giant, with over LKR 2.54 trillion worth of assets, worldwide. Muthoot Finance posted profits exceeding LKR 100 billion from its global operations this year, an amount larger than the total profits made by all finance companies in Sri Lanka, combined. This achievement by its parent company underscores Asia Asset Finance PLC’s strength, stability and reliability, being backed by a truly global financial services giant.