In what could be referred to as a milestone event, Asia Asset Finance PLC [AAF], one of Sri Lanka’s growing financial service providers, inaugurated its 50th branch in Maskeliya recently, thereby widening its geographical footprint further in the country.

This latest expansion move initiated by AAF is targeted towards providing greater financial inclusion for local residents in the hill country and help the company expand its business, mainly gold loans and fixed deposits to entrench its credentials in the Central Province. The company is determined to continue its pursuit of innovation to retain existing customers and attract new customers.

In order to achieve this goal, the company has laid out an ambitious, yet comprehensive plan to expand its branch networks across all provinces. Establishing a branch in Maskeliya is just one step in the larger scheme of things. Accordingly, the company has drawn up plans to open upto 15 branches in the Central Province over the next two years.  

Commenting on the landmark 50th branch opening, Asia Asset Finance Director/CEO Rajiv Gunawardena said: “We are pleased to open our doors for the people of Maskeliya. We see immense potential to grow in this town and fulfil people’s aspirations for a better lifestyle and provide financial security for the future. Asia Asset Finance PLC is backed by the solid credentials of Muthoot Finance, reputed for being one of the largest finance companies in India and the most successful Gold Financing company in the world. We look forward to serving the people of Maskeliya town with our warm and personalised customer care.”

The momentous occasion was attended by Asia Asset Finance Director/CEO Rajiv Gunawardena, Chief Operating Officer Roshan De Silva Gunasekera and General Manager M. Thiru Neelakandan among other distinguished guests. The distinguished dignitaries participated in a traditional ceremony to inaugurate the branch along with branch staff and well-wishers from the area.

Maskeliya’ s increase in commercial activities in the recent past, coupled with the fact that only a few banks are in operation in the area, created the perfect scenario for the company to make a strategic move to establish its 50th bank in the region. As a result, the company’s entry into the region has triggered a rise in demand for services offered by AAF. AAF hopes to play a crucial role in the lives of the residents of Maskeliya, a small town in the Nuwara Eliya District, which is home to Sri Lanka’s prime tea estates and other businesses such as vegetable cultivation, trading and dairy farming etc.  

Through such well-thought out and calculated steps, AAF hopes to establish its reputation as the most trusted gold loan financing company in Sri Lanka and cements its position as the leading financial service provider in the country.  It must be noted that despite the challenges which were placed before the company, Asia Asset Finance PLC was able to maintain its BBB+ rating given by rating agency ICRA.