Abans Finance
Abans Finance PLC is a Sri Lankan licensed finance company offering vehicle leasing, personal, gold and mortgage loans plus deposits, distributed through 9 branches, 4 kiosks and the Abans Group's 400+ retail outlets.
- Company typePublic
- Founded2006
- HeadquartersColombo, Sri Lanka
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What Abans Finance does
Abans Finance PLC is a Sri Lankan licensed finance company established in 2006 and listed on the Colombo Stock Exchange in 2011, operating as a diversified retail/SME lender and deposit-taker. The company offers vehicle leasing across 2-wheelers, 3-wheelers and 4-wheelers, personal loans, gold loans, mortgage loans and savings/fixed deposit products, distributed through 9 branches, 9 customer centres, 4 kiosks and the Abans Group's 400+ retail outlet payment network, with additional origination via third-party bike and three-wheeler showrooms. Field Marketing Officers conduct doorstep origination and collections, while customers can also transact through the Seylan Bank-powered online payment portal (payments.abansfinance.lk).
The technology platform rests on the SkyBank core banking system (integrated module-by-module since 2018), the AFiMobile mobile application co-developed with Newgen Software for in-field loan origination and collections with geo-tagging and electronic purchase orders, and Business Intelligence dashboards delivering real-time sales and collection analytics to management. Capital adequacy stood at 11.21% against a 10.5% regulatory minimum, and the company carries an A-(lka)/Stable Fitch rating upgraded from BB+(lka) in January 2021.
Revenue is generated primarily through interest income on the lending book (finance leases, hire purchase, personal loans, gold loans, mortgages), net interest spread on deposits, and transaction/origination fees. Distribution leverage comes from the Abans Group brand (operating since 1968) and its retail footprint, with ownership shared between the Abans Group, Ironwood Investment Holding (41.89% following a 2016-2017 PE round) and public shareholders.
Abans Finance firmographics
Firmographics- Name
- Abans Finance
- Legal name
- Abans Finance PLC
- Website
- https://abansfinance.lk
- Company type
- Public
- Founded year
- 2006
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Abans Finance PLC is a Sri Lankan licensed finance company offering vehicle leasing, personal, gold and mortgage loans plus deposits, distributed through 9 branches, 4 kiosks and the Abans Group's 400+ retail outlets.
- Ownership category
- akta.pro rank
Abans Finance industry classification
Industry- Product category
- Consumer Finance
- NAICS
- Credit Intermediation and Related Activities (522), Sales Financing (52222)
- SIC
- Personal Credit Institutions (6141), Finance Lessors (6172)
- akta.pro primary industry
- Auto / Vehicle Marketplace Lending (FSAKAHAF)
- akta.pro secondary industry
- Emergency & Short-Term Installment Personal Loans (Unsecured) (FSAKAAAH)
Keywords
Where Abans Finance is headquartered
LocationHeadquarters
- HQ city
- Colombo
- HQ country
- Sri Lanka
- HQ region
- Asia
Offices3 records
Markets served
Abans Finance business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Technology or R&D, Others
Revenue model
- Finance Leasing: Revenue generated from financing motor vehicles (2-wheelers, 3-wheelers, and 4-wheelers) through leasing arrangements. The company earns interest income over the lease tenure and fees associated with lease origination.
- Hire Purchase: Revenue from hire purchase financing arrangements for vehicles and consumer goods, generating interest income and transaction fees over the repayment period.
- Mortgage Loans: Lending against real estate collateral, generating interest income and fees on the loan principal.
- Personal Loans: Unsecured personal loans for lifestyle needs including consumer items, home improvements, education, weddings, and medical expenses, generating interest income.
- Real Estate Development: Revenue from real estate development activities as part of the company's principal lines of business.
- Fixed Deposits and Savings: The company accepts time and savings deposits, paying interest to depositors while deploying those funds in lending activities at higher rates, generating net interest income.
- Gold Loans: Loans advanced against gold collateral, offering instant cash with attractive interest rates and flexible repayment plans of 1, 3, 6, or 12 months.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Savings Account at 6% p.a. interest rate |
| Unit Pricing | Monthly | 2-Wheeler Leasing with lowest lease rentals and low interest rates |
| Unit Pricing | Monthly | 4-Wheeler Leasing with flexible repayment plans |
| Unit Pricing | Monthly | Personal Loans with competitive low interest rates |
| Unit Pricing | Multi-year contract | Gold Loans with high advance amounts and flexible repayment |
| Subscription | Multi-year contract | Fixed Deposits with attractive interest rates |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels5 records
Abans Finance product offering
Product offeringCore offering
Abans Finance is a Sri Lanka-licensed non-bank financial company that provides retail lending, leasing, and deposit products. Its core offerings include vehicle leasing for 2-wheelers, 3-wheelers, and 4-wheelers, personal loans, gold loans, mortgage loans, fixed deposits, and savings accounts, targeted at individual consumers and small businesses.
Product overview
Abans Finance is a Sri Lanka-based finance company operating as a platform offering a comprehensive portfolio of financial products organized into two main categories: Lending Services (including 4-Wheeler Leasing, 3-Wheeler Leasing, 2-Wheeler Leasing, Personal Loans, and Gold Loans) and Investment Services (Fixed Deposits and Savings Accounts). The company also provides a digital service through its secure online payment portal. These products are distributed through a network of branches, customer service centers, kiosks, and the 400+ Abans PLC outlet network across Sri Lanka.
Differentiator
Problem solved
Functional benefit
Brands
- AFiMobile: Mobile application for Marketing Officers and Collection Officers to initiate Lease or Personal Loan and improve Collection process
- AFiMOBILE
Products and services
- 2-Wheeler Leasing
Quantifiable outcome
- PAT increased by 246% to Rs. 356 million in FY21 despite COVID-19 pandemic
- +5 more outcomes
Companies that use Abans Finance
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles1 record
Abans Finance technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
AI capability1 record
Feature5 records
Abans Finance partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- Seylan BankcoreSeylan Bank powers the Abans Finance secure online payment portal (payments.abansfinance.lk), providing the payment infrastructure for card transactions for customers making payments on their Abans Finance facilities.
- Hyundai Motor CompanyminorHyundai Motor Company appointed Abans Auto (an Abans Group company) as the authorised distributor for Sri Lanka. Through this partnership, Abans Auto markets and services the total model range of Hyundai vehicles in Sri Lanka, including the Hyundai Venue, Tuscon, Ioniq EV, and Kona EV. The agreement represents Abans Auto's significant brand presence in the automotive industry.
- Abans AutominorAbans Auto, a subsidiary of the Abans Group, serves as the authorized distributor for Hyundai vehicles in Sri Lanka and as a channel partner for vehicle leasing origination for Abans Finance's 4-wheeler leasing products.
- Amana Takaful PLCcoreMOU signed between Amana Takaful PLC and Abans Finance PLC offering the 'Tuk Tuk Full' insurance product for the three-wheeler portfolio. When a customer obtains a comprehensive Tuk Tuk Full policy, they are eligible for a free three-wheeler tyre and access to a range of benefits including Rs. 100,000 cover for 38 critical illnesses, Rs. 300,000 death cover, and Rs. 300,000 permanent total disability cover. The partnership provides comprehensive insurance coverage to three-wheeler drivers who are often sole breadwinners.
- Newgen Software Technologies LimitedcoreNewgen Software Technologies Limited (India) partnered with Abans Finance to develop the AFiMobile application for lending and collections. Newgen is a leading provider of business process management, enterprise content management, customer communication management and case management solutions, with implementations at world's leading banks, insurance firms, and governments.
Scale indicators11 records
Recent moves11 records
Expansion highlights5 records
Abans Finance competitors and assessment
Company assessmentDirect peers
- People's Leasing & Finance PLC: Largest non-bank finance company in Sri Lanka, offering leasing, personal loans, gold loans and deposits. Directly comparable product mix, customer base (mass-market Sri Lankan consumers) and regulatory positioning, but at materially larger scale.
- Central Finance PLC: One of Sri Lanka's largest finance companies with a vehicle-leasing-led portfolio (2W, 3W, 4W) plus personal loans and deposits. Closest direct competitor on vehicle leasing underwriting and target customer.
- Commercial Credit & Finance PLC: Sri Lankan NBFC offering leasing, personal loans, gold loans and fixed deposits to retail and SME customers. K J C Perera, Abans Finance Chairman, previously chaired CCFC—indicative of overlapping market positioning.
- HNB Finance PLC: Sri Lankan finance company (formerly HNB Grameen) offering micro-leasing, personal loans, gold loans and deposits. Comparable micro/SME customer base and multi-product lending model.
- Senkadagala Finance PLC: Sri Lankan NBFC providing leasing, hire purchase, personal loans, gold loans and fixed deposits. Similar scale, geographic footprint and product set to Abans Finance.
- Vallibel Finance PLC: Listed Sri Lankan NBFC (part of Vallibel One Group) offering fixed deposits, leasing, personal loans and gold loans. Comparable deposit-led funding model and retail customer focus.
- Lanka ORIX Leasing Company PLC: Specialist vehicle and equipment leasing NBFC in Sri Lanka, with overlapping 2W/3W/4W leasing franchise and similar deposit-taking model. Direct competitor for vehicle-financing market share.
- Asia Asset Finance PLC: Smaller Sri Lankan NBFC offering leasing, hire purchase, personal loans, gold loans and deposits. Closely comparable product mix and target customer segment at a smaller scale.
Broad incumbents
- LOLC Finance PLC: Diversified Sri Lankan finance company within the LOLC Group, offering leasing, microfinance, personal loans and Islamic finance. Larger, broader portfolio—competes for the same retail/SME customer with wider product depth.
- Merchant Bank of Sri Lanka PLC: Sri Lankan merchant bank and finance company with overlapping leasing and corporate credit activities. K J C Perera, Abans Finance Chairman, formerly headed legal at MBSL—relevant historical and operational adjacency.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Abans Finance social profiles
Digital presenceAbans Finance compliance and trust
Trust signalCompliance1 record
Abans Finance financial estimates
Financial estimateRevenue estimate
Valuation estimate
Abans Finance leadership team
Management profileNumber of profiles
Abans Finance funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Abans Finance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Abans Finance
What does Abans Finance do?
Abans Finance is a Sri Lanka-licensed non-bank financial company that provides retail lending, leasing, and deposit products. Its core offerings include vehicle leasing for 2-wheelers, 3-wheelers, and 4-wheelers, personal loans, gold loans, mortgage loans, fixed deposits, and savings accounts, targeted at individual consumers and small businesses.
Is Abans Finance a public or private company?
Abans Finance is a public company. It is classified as public and is currently operating.
When was Abans Finance founded?
Abans Finance was founded in 2006. It employs 101 to 250 people.
Where is Abans Finance based?
Abans Finance is headquartered in Colombo, Sri Lanka, in the Asia region.
How does Abans Finance make money?
Seven revenue lines are on record. Finance Leasing is the primary driver. The others are hire Purchase, mortgage Loans, personal Loans, real Estate Development, fixed Deposits and Savings and gold Loans.
Who are Abans Finance's main competitors?
Direct peers on record are People's Leasing & Finance PLC, Central Finance PLC, Commercial Credit & Finance PLC, HNB Finance PLC, Senkadagala Finance PLC, Vallibel Finance PLC, Lanka ORIX Leasing Company PLC and Asia Asset Finance PLC. Broad incumbents are LOLC Finance PLC and Merchant Bank of Sri Lanka PLC.
Does Abans Finance have an API?
No public API is recorded for Abans Finance.
What industry is Abans Finance in?
Abans Finance's product category is Consumer Finance. Its primary akta.pro industry code is FSAKAHAF, Auto / Vehicle Marketplace Lending, with a secondary code of FSAKAAAH, Emergency & Short-Term Installment Personal Loans (Unsecured). Its NAICS code is 522 and its SIC code is 6141.