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Alliance Finance Company PLC

As Sri Lanka’s oldest Finance Company, ours is a history that spans over seven decades, serving four generations of customers who value a brand which represents attributes of trust, integrity and stability, to meet their financial needs and uplift their lives.

Alliance Finance Company PLC was incorporated on 18th July 1956, having its office situated at Campbell Place by the Founding Chairman, Mr. Eardley de Silva and Co-Founder, Mr. D.F.W. Perera; with the motto “Earn Before you Spend and Others Before Self”. The Company has continued to be guided by this motto for decades, resulting in a Triple Bottom Line focus in our value creation, long before it became a buzz word in the world. And today more than ever, an approach of win-win determines our strategy “To Make the World A Better Place through Sustainable Financing”. Our goal is to create financial inclusivity, bridge economic disparities and commit to a number of global initiatives and accreditations. Alliance Finance Company PLC today is a diversified group with a customer of over 105,000, comprising individuals, micro entrepreneurs and small and medium enterprises, served via 92 customer touch points across the country with an uniquely differentiated business model for sustainable value creation.

Milestones

1956
1956

AFC was incorporated on 18th July 1956

1959
1959

Quoted in the Colombo Brokers Association (prior to the formation of Colombo Stock Exchange)

1981
1981

Commemorated AFC Silver Jubilee

1995
1995

Introduced the concept of Collaboration Finance, customized financial packages for entrepreneurs.

1998
1998

Subscriber to the formation of “Alfinco Insurance Brokers”

2000
2000

Became the first Financial Institution to be awarded the Prestigious ISO 9001:1994 status by DNV (later upgraded into ISO 9001: 2015)

2003
2003
  • Opened the first Collection Centre in Kurunegala
  • Launch of Quick Cash Loan plan for Depositors
2005
2005

First Finance Company to introduce Savings Accounts

2008
2008

Entered in to the Gold Loan Market

2012
2012

Formal adoption of the Triple bottom line philosophy (People, Planet, Profit) across the Group

2013
2013
  • Launch of Microfinance Division
  • Best innovation in Sustainable Financial Services – Merit award, EOSD Global Sustainable Finance Awards, Germany
2014
2014

Green Leadership Winner, Asia Responsible Entrepreneurship awards, Singapore

2015
2015

Obtained AFC’s inaugural strategic foreign funding line from Triple Bottom Line based prestigious DFI, Triodos Bank of Netherlands

2016
2016

Obtained ESMS from Steward Red Queen – Netherlands

2017
2017
  • First time in the CSE history, AFC has managed three issues respectively covering subdivision of shares, capitalisation of reserves and rights issue of shares.
  • Secured an investment grade credit rating of BBB- with a stable outlook from ICRA Lanka.
  • AFC obtained the first USD subordinated debt from Triple Bottom Line DFI, Triodos Bank of Netherlands.
  • Signed Karlsruhe resolution pledging the contribution towards SDGs and Paris Climate Agreement
2019
2019
  • Won a Merit Award under the Outstanding Development Project Awards at ADFIAP Awards held in the Philippines
  • Recorded highest profit allocation for sustainability initiatives (over 4% of the previous year profit)
  • Obtained the membership of Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) and Biodiversity Sri Lanka.
  • Revised the company statements and adopted one Purpose statement
  • Launched “One Million Trees for Unity” Project
  • Joined “Ath Pavura” Social Business Development Platform
  • Initiated the low emission gas kit for three wheeler Project
  • Received a merit award for Local Economic Development at ADFIAF Awards, Oman
2020
2020
  • Won Certificate of Merit for outstanding sustainability achievement at the Karlsruhe Sustainable Finance awards, Germany.
  • Formed the AFC Digital Centre.
  • Became ACCA Sustainability Awards winner in the category of Insurance and Finance.
  • Won certificate of Merit at CMA Excellence in Integrated Reporting Awards 2019.
  • Won Certificate for finalist at Asia sustainability reporting award, Singapore
2021
2021

Became the first Sri Lankan finance company to achieve the prestigious status of being a sustainability certified institution by adopting the globally recognised Sustainability Standard and Certification Initiative (SSCI) awarded by the International Council of Sustainability Standards for Value-Driven Financial Institutions, Germany.

 

Planted 75,000 trees along sideways of expressway and interchange island collaboration with the Road Development Authority, Sri Lanka under AFC ‘One Million Trees for Unity” tree planting initiative.

 

The first company in Sri Lanka and South East Asia to be accepted in to the development of Financing 4.0 which is the first global initiative to provide truly holistic, evolving, and locally-sensitive set of standards developed by the EOSD.

 

Launched www.afcdalu.lk  to raise funds for ‘AFC One Million Trees for Unity’ project

2022
2022
  • Won 8 national and international awards recognizing our sustainability commitment and business excellence.
  • Recorded the highest ever profit of growth over 150%
  • Recorded the highest net portfolio growth of over 50%
  • Surpassed 360,000 of plants under the ‘One Million Trees for Unity’ project.
  • Completed island-wide 55 mini-community projects under AFC Branch Sustainability Projects.
2023
2023
  • A pronounced growth of 54.24% has been recorded in gold loans.
  • Surpass the 500,000 milestone figure in the AFC tree planting project.
  • Exceed 40,000 self-employment opportunities and MSMEs financed by AFC.
  • Despite the challenging economic conditions, AFC has maintained a low (PAR) of 12.38% (90
    days).
  • In spite of the currency crisis, AFC has successfully serviced its foreign lenders.
  • Noticeable deposit growth of 37.82% has been shown during the FY.
  • AFC has introduced new climate finance products to the market, which comprised Tea Growers
    Loans, Solar Loans, Climate Smart Irrigation, Dairy Development Loans, Cinnamon Cultivators
    Loans and Polytunnel farming loan.
  • AFC acted as a financing partner for Vmoto’s zeroemission bikes.
2024
2024
  • Planted 141,629 trees on World Environment Day
    (FHA 65th Anniversary)
  • Obtained GHG Verification Certificate under ISO 14064-1:2018.
  • Partnered with Forest Department to establish “AFC Happanu Forest.”
  • Signed a MOU with LIIN to support MSMEs via equity investments
  • Introduced Environment & Climate Action Policy
  • Launched Money Remittance services
  • Set up a Digital Marketing Call Centre
  • Migrated core data systems to Dialog’s Local Cloud Data Center
2025
2025
  • Issued Sri Lanka’s first non-bank Green Bond (LKR 1 Bn), aligned with ICMA principles.
  • Dual-listed Green Bond on Luxembourg Stock Exchange and Green Exchange
  • Secured USD 5 Mn facility from Enabling Qapital to finance underbanked entrepreneurs
  • Secured USD 7.5 Mn from DWM including LKR-indexed and SME loans.
  • Raised LKR 1.449 Bn via Subordinated Trust Certificates to strengthen CAR by 2.5%.