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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Asia Asset Finance posts Rs 100 m profit

Asia Asset Finance posts Rs 100 m profit

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1Asia Asset Finance posts Rs 100 m profit Empty Asia Asset Finance posts Rs 100 m profit Fri Sep 11, 2015 11:42 am

Melissa Pereira


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Asia Asset Finance (AAF) recorded a 100% increase in profitability with Rs. 100 million profit.
Asian Asset Finance Director and CEO Rajiv Gunawardena said this is a milestone in the company's journey as this is the first time such a record has been achieved by the company.
He further stated that the significance of such an achievement increases further in its value as it was recorded within an extremely volatile economic and political environment. Furthermore AAF increased its client base by 40% to 12,000 active clients. Gunawardena said the company has a few ventures in the pipeline. He said the company plans to launch money transfer operations, currency exchange services and insurance related services to provide its customers with a wider product range.
He also stated that hope to upgrade the existing system and provide more interactive technological avenues so as to ease the communication process between stakeholders. The upgrading of technologically advanced avenues will increase transparency and efficiency.
AAF Chairman Manohan Nanayakkara said profits after tax has increased by 118% when compared with last year. He stated that the growth is due to the increase in turnover. 
Courtesy: Daily News 11 September 2015

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