ALLIANCE FINANCE COMPANY PLC Inspired by
Purpose
ALLIANCE FINANCE COMPANY PLC
ANNUAL REPORT 2021/22
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
16
Chairperson's Statement
AFC's performance outpaced the expectations, recording the highest portfolio growth in addition to the highest profits notwithstanding several one off revenue items.
19
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
COMPANY OVERVIEW
06| About AFC
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
STEWARDSHIP
16| Chairperson's Message
19| Deputy Chairman/Managing Director's Message
23| Board of Directors
27| The Management Team
CORPORATE STRATEGY
30| Our approach to sustainability
35| Engagement with stakeholders
39| Materiality Assessment
42| Our strategy
44| Our value creation model
46| Operating landscape
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SEGMENT REVIEWS
51| Lending
52| Deposits
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
FINANCIAL REPORTS
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
SUPPLEMENTARY INFORMATION
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)
276| Abbreviations
277| Glossary
280| Notice of Meeting
281| Form of Proxy
Corporate Information - Inner Back Cover
PLC COMPANY FINANCE ALLIANCE
2021/22 Report Annual
3
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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.
