History

  • 1956

    Alliance Finance Company is incorporated on 18th July 1956, with an issued share capital of Rs. 150,000. The Original Board composes of the late Messrs Eardley de Silva (Founder Chairman),Heyward Fernando (Managing Director), Fred Perera, Hayes Jayasundera and N.M. Appuhamy, all of who are distinguished and respected gentleman in the business community.
  •  

    The first office is located at No 43, Campbell Place, Colombo 8 and consists of 5 employees comprising the Managing Director, Accountant, typist, Mr. Pratapkumar de Silva and the peon."Earn before you spend" was the motto; "Others before self" was yet another.

  • 1958

    Company’s expansion requires a shift of office to 1st floor of the Y.W.C.A., Jubilee Hall at 393, Union Place, Colombo 2.
  • 1959

    The Company is quoted in the Colombo Brokers’ Association.
  • 1965

    Deposit bases surpasses Rs. One Million.
  • 1967

    Acquired ‘Arpico Finance’ (The second oldest Finance Company in Sri Lanka).
  • 1969

    Alliance Finance purchases the land and buildings at No. 84 Ward Place Colombo 7.
  • 1981

    Commemorated the Company’s Silver Jubilee.
  • 1992

    Initiates a new concept for community upliftment with the “Organisation for the upliftment of Siyambalagoda Village”.
  • 1993

    The Deposit base surpasses a milestone of Rs. 100 Million.
  • 1994

    To accommodate its growth & expansion of the business, the Company moves into “Alliance House” – a new three storied complex which is today a well known landmark in the city.
  • 1995

    Introduces the concept of Collaboration Finance, customised financial packages for entrepreneurs. Forms the Alliance-Excel Collaboration to import floor & wall tiles and sanitary ware.
  • 1998

    Entered into the Company’s first equity investment in a pioneering manufacturing venture for Poly Ethylene Products, with joint venture partners McLarens Group and Cars-R-Us.

    Forms “Alliance Tech Trading”, a joint venture with Software Solutions to import branded Office Modular System Furniture.

    Incorporates “Alfinco Insurance Brokers”- a joint venture between Alliance Finance & Arpico Finance.

  • 2000

    Launches the Eardley de Silva Memorial Foundation to support English education, self employment training and scholarships for underprivileged children.

    Driven by our innovative spirit - launched Ezy Drive.

  •  

    Alliance Finance is awarded two bronze awards at "Entrepreneur of the Year" Awards for the concept of “Collaboration Finance” introduced by the Company’s CEO Romani de Silva.

    Becomes the first financial institution to be awarded the prestigious ISO 9001:1994 status by Det Norske Veritas (DNV)/.

  • 2002

    Turnover surpasses a Rs. Billion. The Deposit bases surpasses a Rs. One billion.
  • 2003

    Opened the 1st Collection Centre, in Kurunegala. Launched ‘Quick Cash’ loan plan for Depositors.

    Became the first Finance Company to upgrade into ISO 9001:2000 versions in keeping with our vision of innovation.

  • 2004

    The AFC Deposit base surpasses a milestone of Rs.1.5 Billion. Turnover exceeds Rs.1.5 Billion.
  • 2005

    Becomes the First Finance Company to introduce Savings Accounts. Obtains ISO 9001:2000 certification for the Company’s Motor Division becoming the 2nd Garage to be certified in Sri Lanka.
  • 2006

    Celebrates the Company’s Golden Anniversary.

    Launched “Pride of Priority” a deposit scheme for Senior Citizens with the offer of an 1% extra interest for their fixed deposit.

  • 2008

    The Company makes a new addition to its product portfolio with “Gold Loans”.
  • 2009

    The ISO certification for Quality Management System is upgraded to the ISO 90001:2008 version.
  • 2010

    The Chairman and Joint Managing Director Mr. Pratapkumar de Silva retires from the post of Joint Managing Director on the 6th of December and continues as Chairman. Mr. Romani de Silva continues as Deputy Chairman and takes on the role of Managing Director.
  • 2011

    Ms. Sonali de Silva, a non executive Director is appointed as Chairperson on the 31st of May 2011 as Mr. Pratapkumar de Silva retires from post of Chairman.
  • 2012

    Alliance Finance becomes the Joint winner (with Peoples’ Leasing Company) of the Gold Award, at the National Business Excellence Award 2012. Also won the overall Silver award for “The “Best Management Practices” at the National Business Excellence Awards 2012.

  •  

    Became the first Sri Lankan Company in the Banking and Non Banking Finance sector to receive the British Standard for BCMS Certification (Business Continuity Management System) with the newest standard at that time, the BS 25999.

  •  

    The Company initiated a greater effort to communicate its commitment to a Triple Bottom Line Company, and thus a symbolic wave in colors of Blue, Green and Orange is introduced to all its brand communiqué signifying and reminding all stakeholders of its commitment to PEOPLE, PLANET and PROFIT.

    The company launched its first TV Commercial.

  • 2013

    In January, AFC became the first organization in Sri Lanka’s Finance and Non Banking Financial Sector to receive Certification for BCMS (Business Continuity Management Systems) ISO 222301: 2012.
  •  

    Receives an international accolade for its Sustainable Business products with a Merit Award at the Global Sustainable Finance Conference held in Karlshruhe, Germany.

  •  

    The recognition was for the AF Ezy drive Green taxi service – a triple bottom line initiative which helps the environment by replacing the diesel run three wheelers with the much less environmentally polluting LP Gas whilst also helping a marginalized segment of society with a livelihood.

    Mr. Sunil Karunanayake is appointed as the Chairman of Alliance Finance.

  •  

    AFC achieves its highest ever profit to date, with a Profit After Tax of Rs. 511Million and also records a net asset growth of 44%. The Branch network is increased to 32 branches with a representation in every province in Sri Lanka.

    Launches the Micro Finance Division.