Assetline Finance entity credit rating upgrade highlights strategic growth and stability

Monday, 21 April 2025 00:00 - - {{hitsCtrl.values.hits}}

Director and CEO Ashan Nissanka

Assetline Finance Ltd., (AFL), the flagship company of the Financial Services Cluster of David Pieris Holdings, has received an upgraded entity credit rating from Lanka Rating Agency (LRA) to A with a positive outlook, up from its previous rating of A- with a stable outlook. This upgrade, along with the improved outlook, reflects AFL’s strong financial fundamentals, sustainable growth trajectory, and the increasing confidence of the market in its long-term stability and performance.

This new rating reflects the company’s unwavering commitment to prudent financial stewardship, a strong focus on sound risk management practices, and a strategic approach to value creation. During the year, the company demonstrated steady growth in its asset base, surpassing Rs. 50 billion and reinforcing its strong position within the industry. This growth was driven by strategic investments and a disciplined approach to capital management, which has consistently reinforced the company’s liquidity and financial position. It clearly demonstrates AFL’s operational efficiency and its ability to generate long-term shareholder value.

Commenting on the upgraded rating, AFL Director and CEO Ashan Nissanka stated: “Our favourable rating further positions us to unlock greater opportunities, drive progress, and strengthen stakeholder trust. It is not just a reflection of where we stand today but symbolises our path ahead towards a stronger future.”

Furthermore, the company maintained a strong and well-managed capital structure, with a capital adequacy ratio significantly above the minimum regulatory requirement. It also successfully secured international funding from the Japan-based ASEAN Women Empowerment Fund (JAWEF), managed by BlueOrchard Finance Ltd., a globally recognised impact investment manager. Securing this funding affirms the company’s financial resilience and its ongoing commitment to empowering women entrepreneurs. Through its Liyadiriya initiative, the company continues to improve financial accessibility for rural women, contributing to inclusive economic development.

The company also expanded its geographical footprint by opening four new branches, increasing its total branch network to 59 and establishing a nationwide presence. This expansion was aimed at broadening the customer base, particularly in underserved areas, to promote financial inclusivity. It aligns with the company’s strategic intent to support women entrepreneurs across Sri Lanka. Additionally, the company’s lending focus remains aligned with national priorities, particularly in the renewable energy and SME sectors, which are seen as key drivers of long-term development.

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