Our History

Alliance Finance Company PLC

As Sri Lanka’s oldest Finance Company, ours is a history that spans over six 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 86+ customer touch points across the country with an uniquely differentiated business model for sustainable value creation.

Milestones

1956

AFC was incorporated on 18th July 1956

1959

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

1981

Commemorated AFC Silver Jubilee

1995

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

1998

Subscriber to the formation of “Alfinco Insurance Brokers”

2000

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

2003

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

2005

First Finance Company to introduce Savings Accounts

2008

Entered in to the Gold Loan Market

2012

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

2013

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

2014

Green Leadership Winner, Asia Responsible Entrepreneurship awards, Singapore

2015

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

2016

Obtained ESMS from Steward Red Queen – Netherlands

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

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

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

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 https://afcdalu.com/ to raise funds for ‘AFC One Million Trees for Unity’ project

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.