Over the years Alliance Finance has been inspired by a higher purpose. We have been a trailblazer in sustainability in the financial services sphere. We were recognized as the First Company in South Asia to achieve the prestigious endorsement of "a holistic sustainability certified financial institution". Anchored strongly to our mandate of sustainability encompassing Environment, Social and Governance, our value creation and the strategic path is aligned with principles of sustainability. Determined to make the world a better place through sustainable financing we reach far and wide across the country through
our branch network. Our unique positioning has thus paved the way for us to create enduring sustainable value for all our stakeholders.
Annual Report 2021/22
ALLIANCE FINANCE COMPANY PLC
AFC's performance outpaced the expectations, recording the highest portfolio growth in addition to the highest profits notwithstanding several one off revenue items.
Managing Director's Statement
The Company's admirable performance amidst this challenging business landscape validates the resilience
of the triple bottom line focused business model and the results of the transformative initiatives that were spearheaded in 2019 with the technical assistance of the International Finance Corporation (IFC).
ABOUT THIS REPORT
04 | Welcome to AFC's Integrated Annual Report
08 | The Ownership Structure
09 | Value Added Statement
10 | Triple Bottom Line Value Creation
12 | AFC Milestones
14 |Recognized for Business Excellence and Sustainability Commitment
16 | Chairperson's Message
19 | Deputy Chairman/Managing Director's Message
23 | Board of Directors
27 | The Management Team
30 | Our approach to sustainability
35 | Engagement with stakeholders
39 | Materiality Assessment
42 | Our strategy
44 | Our value creation model
46 | Operating landscape
54 | Commercial Division
CAPITAL MANAGEMENT REVIEW
55 | Financial Capital
62 | Manufacturing Capital
66 | Intellectual Capital
69 | Human Capital
77 | Social and Relationship Capital
84 | Natural Capital
GOVERNANCE AND RISK MANAGEMENT
90 | Corporate Governance
132 | Annual Report of the Board of Directors on the Affairs of the Company
139 | Remuneration Committee Report
140 | Report of the Board Audit Committee
143 | Related Party Transactions Review Committee Report
145 | Board Integrated Risk Management Committee Report
147 | Directors' Statement on Internal Control Over Financial Reporting
148 | Directors' Responsibility for Financial Reporting
149 | Risk Management Report
158 | Independent Auditor's Report
162 | Statement of Profit or Loss
163 | Statement of Comprehensive Income
164 | Statement of Financial Position
166 | Statement of Changes in Equity
168 | Statement of Cash Flows
170 | Significant Accounting Policies
194 | Notes to the Financial Statements
257 | Contribution to National Economy
258 | Depositors Information
261 | Ten Year Summary - Company
263 | Shareholder Information
265 | GRI Index Table
273 | Disclosure on CA Sri Lanka Gender Parity Reoporting
274 | Independent Limited Assurance Report To The Board of Directors of Alliance Finance Company PLC On The Global Reporting Initiative Index (GRI Index)
280 | Notice of Meeting
281 | Form of Proxy
Corporate Information - Inner Back Cover
PLC COMPANY FINANCE ALLIANCE
2021/22 Report Annual
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Alliance Finance Company plc published this content on 29 August 2022 and is solely responsible for the information contained therein. Distributed by Public , unedited and unaltered, on 30 August 2022 00:11:45 UTC.
© Publicnow - 2022| Alliance Finance Company PLC Reports Earnings Results for the First Quarter Ended June 30, 2024 | Aug. 15 | CI |
| Alliance Finance Company plc Appoints Priyanga Peduruhewa Peiris as the Company Secretary | Aug. 09 | CI |
| Alliance Finance Company plc Announces Board Changes | Jun. 28 | CI |
| Alliance Finance Company PLC Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2024 | May. 29 | CI |
| Alliance Finance Company PLC Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023 | Feb. 15 | CI |
| Alliance Finance Company PLC Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023 | Nov. 14 | CI |
| Alliance Finance Company PLC Reports Earnings Results for the First Quarter Ended June 30, 2023 | 23-08-13 | CI |
| Alliance Finance Company plc Announces Retirement of Jalathge Mahinda Gunasekera as Executive Director | 23-07-17 | CI |
| Alliance Finance Company PLC Reports Earnings Results for the Fourth Quarter Ended March 31, 2023 | 23-05-29 | CI |
| Alliance Finance Company PLC Reports Earnings Results for the Full Year Ended March 31, 2023 | 23-05-29 | CI |
| Alliance Finance Company plc Announces Retirement of Ravindra Erle Rambukwelle as Executive Director Credit Marketing and Operations | 23-04-05 | CI |
| Alliance Finance Company PLC Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022 | 23-02-15 | CI |
| Alliance Finance Company PLC Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2022 | 22-11-15 | CI |
| Alliance Finance Company PLC Reports Earnings Results for the First Quarter Ended June 30, 2022 | 22-08-15 | CI |
| Alliance Finance Company PLC Reports Earnings Results for the Full Year Ended March 31, 2022 | 22-06-29 | CI |
| Alliance Finance Company plc Appoints Wickramasinghe Pathiranage Kusal Jayawardana as Deputy Managing Director, Effective March 1, 2022 | 22-02-24 | CI |
| Alliance Finance Company PLC Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2021 | 22-02-13 | CI |
| Alliance Finance Company PLC Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2021 | 21-11-15 | CI |
| Alliance Finance Company plc Reports Earnings Results for the First Quarter Ended June 30, 2021 | 21-08-14 | CI |
| Alliance Finance Company PLC Reports Earnings Results for the Third Quarter Ended December 31, 2020 | 21-02-15 | CI |
| Alliance Finance Company plc Reports Earnings Results for the Second Quarter Ended September 30, 2020 | 20-11-13 | CI |
| Alliance Finance Company PLC Reports Impairment Charges for the Three Months Ended June 30, 2020 | 20-08-14 | CI |
| Alliance Finance Company plc Reports Earnings Results for the First Quarter Ended June 30, 2020 | 20-08-14 | CI |
| Alliance Finance Company plc Reports Earnings Results for the Fourth Quarter Ended March 31, 2020 | 20-06-28 | CI |
| Alliance Finance Company PLC Reports Impairment Charges for the Third Quarter Ended December 31, 2019 | 20-02-14 | CI |
Alliance Finance Company PLC is a Sri Lanka-based finance company. The Company provides finance leases, term loans, gold loans, pledge loans, mortgage loans, Ran Ayojana acceptance of public deposits and savings. The Companyâs other lines of business include hire purchase, group loans, trading, investment in shares and real estate. The Company also provides end-to-end vehicle management solutions which include operating leases and hiring of vehicles. The Companyâs products and services include Leasing and Loans, which consists of vehicle and equipment leasing, quick cash, speed cash, pledge loans and term loans; Gold Loans, which includes short term advances collateralized against gold and installment based gold investments; Savings and Deposits, which includes fixed deposits and savings deposits with special products to senior citizens and minors, and Commercial Division, which provides operating lease, vehicle trade-in service, rental service, and automotive service center.