Alliance Finance Co Ltd. PLC

What Alliance Finance Co Ltd. PLC does

Alliance Finance Company PLC (AFC) is Sri Lanka's oldest licensed finance company, incorporated on 18 July 1956 and listed on the Main Board of the Colombo Stock Exchange since 1 January 1959. It operates as a Non-Bank Financial Institution (NBFI) under the Finance Business Act No. 42 of 2011, Finance Leasing Act No. 56 of 2000, and related statutes, with an (SL) BBB stable rating from Lanka Rating Agency and an asset base exceeding LKR 80 Bn serving 105,000+ customers across 90+ branches in every district of Sri Lanka. Its business is organised around three pillars: a deposit-and-investment franchise (Fixed Deposits, Regular Savings, Senior Citizens Savings, AFC Hapannu children's scheme, and AFC Ran Ayojana gold investment); a diversified lending suite (Vehicle Leasing, Gold Loans, Speed Cash, Agriculture Loans, Personal Loans/AF Platinum Advance, Loans Against FD/Quick Cash, and the 2023-launched Climate Finance sub-products including Tea Growers, Solar, Dairy, Cinnamon, Polytunnel, and Rooftop Solar); and a Commercial Division comprising Auto Sure (vehicle trade-in/workshop) and EZY Drive (vehicle rental) at Rajagiriya. The company also runs subsidiary Alfinco Insurance Brokers for Life and General Insurance distribution and launched a Money Remittance Service in 2024.

AFC generates revenue primarily through interest income on its lending book, deposit-savings spreads, gold loan and gold-investment fees, vehicle trade-in and rental margins, insurance brokerage commissions, and remittance transaction fees, complemented by capital-market issuance (the 2025 LKR 1 Bn Green Bond dual-listed on the Luxembourg Stock Exchange and Luxembourg Green Exchange, the inaugural Social Bond listing on NSE IX, and LKR 1.449 Bn in Subordinated Trust Certificates). Go-to-market is omnichannel: branch-led direct-to-consumer across 90+ touch points, supported by the 1321 hotline, a 2024 Digital Marketing Call Centre, the "Sonali" AI chatbot on WhatsApp and website, and a trilingual (Sinhala/Tamil/English) self-serve portal. Underlying technology is a Dialog-hosted local cloud core (migrated 2024) with rule-based automation rather than AI/ML differentiation. The firm is governed by a Triple Bottom Line (People, Planet, Profit) philosophy adopted in 2012, and was the first financial institution in South Asia to be SSCI Level 4 certified for holistic sustainability (2020), positioning it as a preferred counterparty for impact investors such as Triodos Bank, Triple Jump, DWM, and Enabling Qapital.

Name

Alliance Finance Co Ltd. PLC

Legal name

Alliance Finance Company PLC

Website

https://alliancefinance.lk

Company type

Public

Founded year

1956

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Alliance Finance Company PLC is Sri Lanka's oldest licensed NBFI (founded 1956), offering deposits, leasing, gold loans, climate finance, remittance, and insurance brokerage to 105,000+ customers via 90+ branches and digital channels, with a Triple Bottom Line and SSCI-certified sustainability focus.

Ownership category

akta.pro rank

Product category

Non-Bank Financial Services

NAICS

Depository Credit Intermediation (5221), Commercial Banking (522110), Commercial Banking (52211)

SIC

State Commercial Banks (6022), Personal Credit Institutions (6141), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

akta.pro secondary industries

Private Sector & Blended Finance Arms (IFC-type) (BPADACAJ), SME Trade Finance & Working Capital (LCs, Guarantees, Receivables) (FSABABAF), Debt Capital Raising Intermediation (Private Debt/Mezzanine/Bonds) (FSAEALAM)

Keywords

• Vehicle leasing
• Gold loans
• Fixed deposits
• Climate finance
• Money remittance

Headquarters

HQ city

Colombo

HQ country

Sri Lanka

HQ region

Asia

Offices5 records

Markets served

Offering type

Services

Revenue model

1. Interest Income from Lending: Primary revenue stream from finance leases (vehicle leasing, machinery/equipment leasing), gold loans, personal loans (AF Platinum Advance), agriculture loans, climate finance loans (solar, tea growers, dairy, cinnamon, polytunnel), rooftop solar energy loans, and speed cash loans against vehicle registration books.
2. Deposit & Savings Mobilization Spread: Acceptance of fixed deposits, regular savings, senior citizens savings (higher interest), and AFC Hapannu (minor savings scheme); net interest spread on mobilized deposits deployed into lending.
3. AFC Ran Ayojana (Gold Investment Programme): Gold investment/savings scheme allowing customers to accumulate gold for jewelry purchase; earns spread/fees on the gold investment product.
4. Commercial Division Services (Auto Sure & EZY Drive): Vehicle trade-in services (Auto Sure) and vehicle hiring/rental services (EZY Drive) operated through the Rajagiriya showroom/workshop; revenue from vehicle sales, rentals, and servicing.
5. AFC Money Remittance Services: Money remittance service launched in 2024; earns commission/transaction fees on cross-border remittances.
6. Insurance Brokerage Commissions (Alfinco Insurance Brokers): Subsidiary Alfinco Insurance Brokers (Pvt) Ltd. evaluates and manages insurance portfolios for clients, negotiating with leading insurance providers for both Life and General Insurance categories; earns brokerage commission.
7. Green Bond & Social Bond Issuance: Capital raising via Sri Lanka's first non-bank Green Bond (LKR 1 Bn in 2025, dual-listed on Luxembourg Stock Exchange and Green Exchange) and Social Bond Issue 2025; funds used for on-lending to green/social projects.

Pricing tiers

Go-to-market motion4 records

Distribution channels7 records

Marketing channels10 records

Core offering

Alliance Finance Company PLC operates as a licensed non-bank financial institution (NBFI) in Sri Lanka, offering a diversified suite of deposit, lending, leasing, gold investment, remittance, and insurance brokerage products. Its core lending business spans vehicle leasing, gold loans, personal loans, agriculture and climate finance, while its deposit franchise includes fixed deposits, regular savings, senior citizens savings, and children's savings schemes, all delivered through an island-wide network of 90+ branches.

Product overview

Alliance Finance Company PLC operates a diversified, sustainability-integrated financial services platform (not a single product) anchored on a Triple Bottom Line philosophy. Its core architecture combines a deposit-and-investment portfolio (Fixed Deposits, Regular Savings, Senior Citizens Savings, AFC Hapannu children's scheme, and AFC Ran Ayojana gold investments) with a multi-vertical lending suite (Vehicle Leasing, Gold Loans, Speed Cash, Agriculture Loans, Personal Loans/AF Platinum Advance, Loans Against FD / Quick Cash, and the newer Climate Finance sub-products including Rooftop Solar Energy). These are flanked by a Commercial Division (Auto Sure trade-in/workshop and EZY Drive vehicle rental), a 2024-launched AFC Remittance service, and capital-market instruments (2025 Green Bond dual-listed in Luxembourg and 2025 Social Bond on NSE IX), all supported by a Digital Marketing Call Centre and Dialog-hosted cloud infrastructure. An AI chatbot ("Sonali") provides automated customer engagement on the corporate site, and the AFC Dalu (afcdalu.lk) portal drives sustainability community engagement around the "One Million Trees for Unity" project.

Differentiator

Problem solved

Functional benefit

Brands

• AFC Hapannu: Special savings scheme aimed at mobilizing minor savings and encouraging school children to save for their future.
• AFC Ran Ayojana
• Dalu by AFC
• AFC Dalu
• Auto Sure
• EZY Drive

Products and services

• Vehicle Leasing Flagship leasing product financing motor bikes, three-wheelers, cars, vans, lorries, and other four-wheelers for individuals and businesses; 50 trees allocated per lease.
• Gold Loans Short-term secured loan providing customers quick cash against pledged gold.
• Fixed Deposits

Quantifiable outcome

• FY 2024/25 Profit After Tax of LKR 1,735 Mn (vs. LKR 917 Mn in FY 2023/24)
• +9 more outcomes

Named customers5 records

Segments7 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability3 records

Feature7 records

Partnerships

24 partnerships are on record, tiered core, flagship and minor.

• District Secretariat – Matale (and consortium)coreStrategic or Co-development Partner · 1 October 2025Signed an MoU in October 2025 with the District Secretariat - Matale and a consortium of partners to safeguard the World Heritage Knuckles Conservation Forest through biodiversity conservation, eco-friendly infrastructure, and community empowerment.
• DevProflagshipStrategic or Co-development Partner · 11 September 2025Signed an MoU on 11 September 2025 to promote innovative financing for inclusive economic development; focuses on women-led agri-based MSMEs, climate-smart agriculture, and innovative digital technologies (blockchain-based index insurance, automated water management). DevPro is built on over 30 years of Oxfam's legacy in Sri Lanka.
• PLANT (Preserving Land and Nature)coreStrategic or Co-development Partner · 1 June 2025Alliance Finance PLC joined hands with PLANT to reforest riverbanks; signed partnership in June 2025 for the 'Greener Tomorrow with PLANT' initiative.
• Sri Lanka ArmycoreStrategic or Co-development Partner · 1 June 2025Alliance Finance Company PLC joined hands with the Sri Lanka Army for an Island-Wide Tree Planting Initiative on World Environment Day in June 2025.
• David Pieris Renewable EnergycoreStrategic or Co-development Partner · 1 April 2025Alliance Finance and David Pieris Renewable Energy united in April 2025 for a Greener Sri Lanka partnership promoting renewable energy adoption.
• LOAM (Local Organic Agri Model)coreStrategic or Co-development Partner · 1 January 2025Alliance Finance Company PLC and LOAM signed a Memorandum of Understanding in January 2025 to collaborate on organic agriculture and sustainable rural development.
• Luxembourg Stock Exchange (Luxembourg Green Exchange)flagshipOthers · 1 January 2025AFC's Green Bond (LKR 1 Bn, issued 2025) was dual-listed on the Luxembourg Stock Exchange and Luxembourg Green Exchange, making it Sri Lanka's first non-bank Green Bond aligned with ICMA principles.
• NSE International Exchange (NSE IX)flagshipOthers · 1 January 2025AFC made history with the inaugural Social Bond Listing on NSE International Exchange (NSE IX) in 2025.
• LIIN (Lanka Impact Investing Network)coreStrategic or Co-development Partner · 1 January 2024Signed an MOU in 2024 with LIIN to support MSMEs via equity investments; aligns with AFC's collaboration financing model.
• Forest Department of Sri LankacoreStrategic or Co-development Partner · 1 January 2024Partnered with the Forest Department in 2024 to establish the 'AFC Happanu Forest' as part of AFC's signature tree-planting program.
• USAIDcoreStrategic or Co-development Partner · 1 January 2024Partnered with USAID to promote Climate Proofing Investments and delivered a Climate Change Adaptation and Agricultural Lending training programme for credit officers in 2025.
• Dialog (Local Cloud Data Center)coreTechnology or Integration · 1 January 2024AFC migrated its core data systems to Dialog's Local Cloud Data Center in 2024 for resilience, scalability, and local data residency.
• Colombo Stock Exchange (CSE)coreOthers · 1 January 2024AFC's Ordinary Shares have been listed on the Main Board of the Colombo Stock Exchange (formerly Colombo Stockbrokers Association) since 1 January 1959; complies with Section 9 of the CSE Listing Rules on Corporate Governance.
• Vmoto (Vmoto Soco)minorStrategic or Co-development Partner · 1 January 2023AFC acted as a financing partner for Vmoto's zero-emission bikes in 2023, supporting sustainable mobility solutions.
• Road Development Authority (RDA) of Sri LankacoreStrategic or Co-development Partner · 1 January 2020AFC partnered with the RDA's Green Expressway Project starting 2020, supplying over 100,000 plants in total (75,000 trees along expressway and interchange island in 2021, plus 25,000 Kohomba plants in a subsequent campaign). The largest plant supplier to the expressway.
• Wilderness and Wildlife Conservation Trust (WWCT)coreStrategic or Co-development Partner · 1 January 2020AFC joined hands with WWCT (founded by Dr. Andrew Kittle and Anjali Watson) as the financing partner for the Peak Ridge Forest Corridor / Hill Country Leopard Conservation Project, restoring the ecosystem in Sri Lanka's central hills and protecting hill country leopards.
• Association of Development Finance Institutions in Asia and the Pacific (ADFIAP)minorOthers · 1 January 2019AFC obtained ADFIAP membership in 2019; has since won multiple ADFIAP Outstanding Development Project Awards and the ADFIAP Best Sustainability Report 2021. The Deputy Chairman/MD Romani de Silva serves on the SSCI Council supported by ADFIAP.
• Lions Club of Sri LankaminorStrategic or Co-development Partner · 1 January 2018AFC partnered with the Lions Club to provide 40,000 plants to the RDA Green Expressway project (part of broader 100,000+ plant contribution).
• European Organization for Sustainable Development (EOSD) / SSCI CouncilflagshipStrategic or Co-development Partner · 1 January 2018AFC's Deputy Chairman/MD Romani de Silva was selected in 2018 to serve on the SSCI Council – a global council initiated by the EOSD in Karlsruhe, Germany, mandated to develop the world's first measurable, certifiable and holistic sustainability standard for value-driven financial institutions. AFC became the first in South Asia to be SSCI-certified (2020).
• IFC / World Bank GroupcoreStrategic or Co-development Partner · 1 January 2018AFC's Deputy Chairman/MD represented the NBFC industry as a working committee member of the National Financial Inclusion Strategy Project concluded by the IFC/World Bank Group and the Central Bank of Sri Lanka.
• Central Bank of Sri LankaflagshipOthers · 1 January 2017AFC is a licensed finance company registered under the Central Bank of Sri Lanka; participated in the Central Bank's Sustainable Finance Road Map Steering Committee and represents the NBFI industry on multiple CBSL working committees.
• Steward Red Queen (Netherlands)minorOthers · 1 January 2016Obtained Environmental and Social Management System (ESMS) certification from Steward Red Queen – Netherlands in 2016.
• Alfinco Insurance Brokers (Pvt) Ltd.coreStrategic or Co-development Partner · 1 January 1998AFC's subsidiary Alfinco Insurance Brokers (Pvt) Ltd. evaluates and manages insurance portfolios for clients - negotiating with all leading Insurance providers in Sri Lanka for both Life and General Insurance categories; serves as Director with Michael Benedict as a Director. Also Champa Nakandala (AFC Chief Deposit Officer) is a Director.
• Macbertan (Pvt) Ltd.coreStrategic or Co-development Partner · 1 January 1997Established in 1997, Macbertan (Pvt) Ltd. is the Alliance Group's associate company and a joint venture between Alliance Finance and McLarens Holdings Limited. A leading manufacturer of insulation solutions and flexible packaging; pioneered the manufacture of expanded polyethylene and bubble sheets in Sri Lanka.

Scale indicators1 record

Recent moves8 records

Expansion highlights6 records

Direct peers

• Central Finance PLC: Sri Lankan licensed finance company (NBFI) listed on the CSE with a similar vehicle leasing, deposits, and gold loan product mix. Among the closest direct competitors to AFC in the NBFI leasing-and-deposits space.
• People's Leasing & Finance PLC: One of Sri Lanka's largest NBFIs, focused on vehicle leasing, deposits, and personal lending. Comparable business model and customer segments to AFC's core franchise, with broader scale.
• HNB Finance PLC: Sri Lankan NBFI providing leasing, hire purchase, deposits, and SME loans. Backed by HNB Group; directly overlaps with AFC's vehicle leasing and deposit-mobilization offering.
• Commercial Credit PLC: Sri Lankan CSE-listed NBFI focused on vehicle financing, deposits, and personal credit. Closely comparable customer base (individuals, SMEs) and product set to AFC.
• Senkadagala Finance PLC: Sri Lankan NBFI offering fixed deposits, savings, leases, and personal loans. Similar deposit-driven NBFI model and customer segments as Alliance Finance.
• LOLC Finance PLC: Large Sri Lankan NBFI within the LOLC Group, offering leasing, gold loans, microfinance, and SME credit. Comparable diversified NBFI franchise with similar products but larger group backing.
• Sinhaputhra Finance PLC: Sri Lankan NBFI with a long operating history, providing deposits, leasing, and personal loans. Comparable legacy NBFI franchise and product mix to AFC.

Broad incumbents

• DFCC Bank PLC: Sri Lankan development bank with a much larger balance sheet, providing SME and project finance, deposits, and treasury services. Competes with AFC for MSME lending and deposits but operates a broader banking mandate.
• Nations Trust Bank PLC: Sri Lankan licensed commercial bank offering leasing, personal loans, and savings products. Overlaps with AFC's vehicle leasing and deposit products at greater scale.
• National Savings Bank: Sri Lankan state-owned savings institution with a vast deposit base. Competes with AFC in retail savings and senior citizen deposit products at materially larger scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/afcplclk
• Facebookfacebook.com/afcplc
• LinkedInlinkedin.com/company/alliance-finance-company-plc

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alliance Finance Co Ltd. PLC