Abans Finance PLC
CCSELK:AFSL.N000075.00
LKR
+2.00
(+2.74%)
ISIN
LK0388N00005
Return %
Stock
S&P 500
1Y
-1.06
14.20
3Y
242.47
81.12
5Y
175.74
68.34
Capital Structure
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Company Description
- CEO
- Nirosha Madawala
- Sector
- Finance
- Industry
- Finance/Rental/Leasing
- Address
- Colombo Sri Lanka
- IPO Date
- Jun 27, 2011
- Website
- abansfinance.lk
- Similar Companies
- Business
- Abans Finance PLC is a Sri Lanka-based licensed finance company that provides comprehensive retail and commercial financial services to individual, small and medium-sized enterprise (SME), and corporate clients. Incorporated in 2005 and headquartered in Colombo, Sri Lanka, the company operates as the financial services subsidiary of the Abans Group, a major diversified Sri Lankan conglomerate. Abans Finance PLC operates primarily within the banking, finance, and leasing sector, with core business operations categorized into Leasing and Hire Purchase, Term and Mortgage Loans, Gold Loans, and Deposit Mobilization. The company offers a systematic suite of financial products and services, including finance leasing facilities for brand new and pre-owned motor vehicles, including two-wheelers, three-wheelers, passenger cars, and commercial utility vehicles; hire purchase financing; consumer durable financing and installment loan schemes for household appliances and electronics marketed through the Abans retail network; mortgage-backed property loans and personal term loans; SME business lending and working capital facilities; gold loans and pawning advances against gold jewelry collateral; fixed deposit products with flexible maturities, monthly or maturity interest payment options, and premium rates for senior citizens; and term savings accounts. The company distributes its solutions across Sri Lanka through a network of regional branch offices, customer touchpoints, and co-located centers within the parent group's island-wide showroom footprint. In recent developments, Abans Finance PLC has implemented strategic capital optimization initiatives, including rights issues to reinforce its Tier 1 core capital position in alignment with Central Bank of Sri Lanka regulatory requirements. The company has also advanced its digital finance capabilities by integrating with national electronic payment systems such as LankaPay CEFT and JustPay, upgrading core banking systems, and launching online customer portals for loan applications and deposit servicing. Additionally, Abans Finance PLC has broadened its green lending portfolio through dedicated financing arrangements for electric two-wheelers and three-wheelers in collaboration with Abans Auto, alongside expanding its gold loan branch units to address short-term liquidity demand.