Union Bank of Colombo PLC (UBC) is pleased to announce the appointment of Mr. Alexis Indrajit Lovell as the new Chairman and Mr. Asoka de Silva as the new Deputy Chairman of UBC with effect.......

Further highlighting its strong position as one of Sri Lanka’s fastest growing Banks, Union Bank reported a noticeable upturn in its performance for the period ended 31st March 2012.......

Continuing its commitment towards superior service towards the Small and Medium enterprises and Retail Sectors, Union Bank of Colombo PLC relocated its Kurunegala Branch to a more spacious and convenient location on 02nd April 2012 giving easier access to customers.......

Union Bank of Colombo PLC (UBC) added 02 new branches to its rapidly expanding branch network when it opened its Horana and Badulla branches on 30th March 2012 offering the people of Horana and Badulla a range of innovative financial solutions focusing on Small and Medium enterprises and Retails sectors.......

Union Bank recently held the grand draw of the Save and Win promotion which commenced in July 2011 offering prizes up to one million in cash to 100 lucky winners......

Union Bank achieved a record pre tax profit of Rs 324 million in the first nine months of 2011, in comparison to Rs. 307 million in Dec 2010.
Highlighting the Bank's predominantly stable and healthy financial position, in January 2012, Fitch release on 2012 outlook for Sri Lankan Banks,....

Janashakthi Insurance PLC and Union Bank of Colombo PLC (UBC) entered into an agreement that allows UBC customers convenient access to a multitude of Janashakthi's insurance solutions for individuals and corporates.

Union Bank unveiled its new state of the art Head Office on 6th January 2012. Mr. Ajith Nivard Cabraal, Governor of the Central Bank of Sri Lanka ceremonial declared opened the new premises located at No. 64 Galle Road, Colombo 03. The new head office marks another momentous occasion for Union Bank, bringing together a combination of state of the art technology, competitive financial solutions and superior service delivery under one roof.

Union Bank of Colombo PLC (UBC) entered two historic cities with the opening of the Dambulla and Anuradhapura Branches on 27th December 2011. The Bank's rapidly expanding branch network now stands at 30 branches with 7 branches located in the North and East of Sri Lanka. UBC now brings to the people of Dambulla and Anuradhapura, a host of innovative financial solutions focusing on the SME and Retail sectors.

Union Bank opened its newest branch in Ratnapura on 20th December 2011. The branch was ceremonial opened by Mr. Anil Amarasuriya Director / Chief Executive Officer of Union Bank. Located at No. 109 Main Street Ratnapura it marks the Banks 28th branch highlighting the rapid growth of its network.

Union Bank of Colombo PLC (UBC) together with an International foreign investment Fund ShoreCap acquired over 98 % of the voting shares of The Finance and Guarantee Company Ltd (TF&G), infusing new capital to resurrect one of Sri Lanka's oldest finance companies at a total investment in excess of RS 1.1 billion early this month.

The newest branch of Union Bank was ceremonially opened by Mr Asoka De Silva, Senior Director of Union Bank on 16th November 2011 in the presence of Mr Anil Amarasuriya, Director/Chief Executive Officer, Mr Nilanth De Silva, Chief Operating Officer, and other senior officers of Union Bank. A large gathering of invitees, potential customers and the local community graced this occasion.

Further highlighting its strong position as one of Sri Lanka's fastest growing Banks, Union Bank reported a noticeable upturn in its performance for the period ended 30 September 2011. The Bank's after-tax Profits improved by 75.4% recording Rs 191.3 Mn up from Rs 109 Mn of period ended 30 September 2010, whilst pre-tax Profits increased by 37.5% to Rs 304.7 Mn in comparison to the corresponding period of last year.

Union Bank of Colombo PLC (UBC) together with an International foreign investment Fund ShoreCap II Limited of USA acquired over 98 % of the voting shares of The Finance and Guarantee Company Ltd (TF&G), infusing new capital to resurrect one of Sri Lanka's oldest finance companies at a total investment in excess of RS 1.1 Bn sources said.

Delivering on its value proposition of superior service delivery to the Small and Medium Enterprise and Retail sectors Union Bank continues to offer innovative banking solutions supported by state of the art systems and product innovation.  Union Bank is the only Bank in Sri Lanka to offer one (01) Day Cheque Clearance for cheques deposited up to 4.00 PM says Ned Gomes, Assistant Vice President Operations of Union Bank.

Union Bank of Colombo PLC (UBC), is the first Sri Lankan bank to have taken an initiative to implement technology based money laundering prevention. After a long drawn evaluation in which many global vendors participated, Union Bank decided to work with InfrasoftTech, a leader in AML systems in the international markets.

Union Bank of Colombo PLC (UBC) held the "Mega Dinum" promotion grand draw prize awarding ceremony on 20th September 2011 at its Kollupitiya Branch. The winner of the Super Prize of a Brand new Suzuki A Star motor car and 2 years free fuel was produced by the UBC Old Moor Street branch, and the winner Mr. M Yoganathan received his prize from Mr. Asoka De Silva Senior Director of UBC in the presence of Mr. Anil Amarasuriya, Director/CEO, Mr. Nilanth De Silva, Chief Operating Officer and Mr. Beverley Labrooy, VP-International & Business Development of UBC.

Further highlighting its strong position as one of Sri Lanka's fastest growing Banks, Union Bank reported a significant upturn in its performance for the half year ended 30 June 2011. The Bank's after-tax Profits improved by 157.3% to record Rs 128.7 M up from Rs 50 M of period ended 30 June 2010, whilst pre-tax Profits increased by 56.6% to Rs 206.8M in comparison to the corresponding period of last year. Net Interest Income increased by 35.9% to 154.7 Mn over the preceding year. Similar growth was also achieved in the Banks core activities. Gross loans and advances increased by 28.2% during the six months to reach Rs 12.9 Bn whilst total deposits increased to Rs 14.8 Bn as at 30 June 2011. Gross non performing advances ratio improved to 6.05% from 9.19% of June 2010. Overall, the group highlighted an after tax profit of Rs. 132.7 M.

National Asset Management Ltd (NAMAL), the pioneer Unit Trust Management Company in Sri Lanka announced the launch of the NAMAL IPO Fund. The Fund has been launched to capture potential upside on mispriced IPOs (initial public offerings) as well as to benefit from the preferential allocation of 10% of the offered shares to the Unit Trust Investor Category. The fund will invest at the IPO offering stage and in post-IPO securities for a period of one year. The Fund is targeted at retail investors with a minimum investment of Rs. 10,000 and will enable retail investors to obtain a meaningful allocation without the hassle of applying for each individual IPO and obtaining bank guarantees.

Union Bank of Colombo PLC (UBC) together with an International foreign investment Fund will acquire over 98 % of the voting shares of The Finance and Guarantee Company Ltd (TF&G), infusing new capital to resurrect the business at a total investment in excess of RS 1.1 Bn sources said. Subsequent to creating history with its highest oversubscription for an IPO, this latest acquisition places Union Bank in the limelight once again with its focused diversification plans taking positive strides in a short period of time. International Investment Banker, Mr Harish Parameswar, Managing Director of Beacon Advisory, an emerging markets focused advisory and investment firm based in Singapore applauds the acquisition as significant and focused for Union Bank. It is apparent that Union Bank will consolidate and build on the recent acquisitions they have done.

In maintaining the momentum gained during its historic IPO, Union Bank posted a pre-tax profit of Rs 117.5 million for the 01st quarter of 2011, confirming its strong position in the banking sector as one of the fastest growing banks. The results indicate a 97.6% growth when compared with the same period in 2010.

Union Bank opened its newest branch in Piliyandala on 10th May 2011. The branch was ceremonially opened by Mr. Priyantha Fernando, Deputy Governor of the Central Bank of Sri Lanka in the presence of Asoka De Silva, Senior Director and Anil Amarasuriya, Director / CEO of Union Bank. Piliyandala marks the 26th branch of Union Bank and highlights the rapid growth of its network. The new branch is located at No. 71 Moratuwa Road, Piliyandala.

The newest branch of Union Bank was ceremonially opened by Asoka De Silva Senior Director of Union Bank on 11th April 2011 in the presence of Anil Amarasuriya, Director/CEO, Nilanth De Silva, Chief operating Officer of Union Bank and a large gathering of guests from Government and private sectors, religious dignitaries, customers and the local community.

The much awaited listing of the historic Union Bank IPO took place on 29th March 2011 at the Colombo Stock Exchange.

Having created history with its heavily over-subscribed IPO, Union Bank plans to consolidate the momentum gained, in its plans for the future.

IFC, a member of the World Bank Group, will provide a trade finance facility of $5 million to Union Bank to help boost international trade opportunities for the Bank and its small and medium enterprise and corporate sector clients.

RAM Ratings Lanka has assigned respective long- and short-term financial institution ratings of BBB and P3 to Union Bank of Colombo Limited; the long-term rating having a stable outlook.

With Union Bank acquiring 51% stake in National Asset Management Limited, a new brand identity was launched highlighting the new strategic direction and positioning of the company.

The 23rd branch of the Union Bank was ceremonially opened by Mr. Ajith Nivard Cabraal, Governor of the Central Bank of Sri Lanka on 23rd March 2011 in the presence of Mr. Ajita De Zoysa Chairman of Union Bank and invitees representing Government authorities, private sector, customers, media and the local community.

Vavuniya Branch of Union Bank celebrated its 1st year anniversary on 01st December 2010. V Thillainathan, Manager of the branch along with his team organized a simple ceremony with the presence of customers and well wishers to mark this event.

The newest branch of Union Bank was ceremonially opened by Hon. Basil Rajapakse, Minister of Economic Development on 14th February 2011, in the presence of Ajita de Zoysa, Chairman Union Bank, and a large gathering of guests from the Government and private sectors, religious dignitaries, customers and the local community participated in the event.

Highlighting yet another mile stone in the 15 year history of Union Bank, the much awaited IPO of Union Bank was announced on 10th February 2011 at a media conference and presentation held by the Bank at Colombo Hilton Residencies.

Adding to the IPO announcement, which provides a rare investment opportunity being one of Sri Lankas last banks to list, the recent acquisition of Sri Lanka’s oldest asset management company National Asset Management Limited highlights the fast and positives results of Union Banks initiatives.....

The 15th Anniversary  of Union Bank was celebrated on a grand scale with the Chairman and Board of Directors hosting a lavish cocktail party. A large gathering of guests from the Banking fraternity, government and private sectors, customers, media and staff were present at the event.

Subsequent to the over whelming response received at the recently held rights issue which was over subscribed by four times, the innovative fund raiser of Union Bank which is expected to raise in excess of 1.1 billion, moved to an exciting second phase with the successful completion of a Private Placement on 27th December 2010.

The 21st Branch of Union Bank was ceremonially opened on the 28th of December in Wattala, bringing the convenience of banking and a range of advanced financial solutions that will be delivered through exceptional service delivery to the residents of Wattala.

The innovative fund raiser of Union Bank, consisting of a Rights Issue, a Private Placement and a subsequent Initial Public Offering which has received a remarkable and overwhelming level of attention from both local and foreign investors

The first Union Bank branded train was ceremonially flagged off on 21st December 2010 from the Fort Railway Station in the presence of officials from both Union Bank and Sri Lanka Railways.

Union Bank joined hands with Seylan Bank to issue Global Traveller’s Cards to its customer base on 01st December 2010. The Traveller's Card is a substitute for Traveller's cheques and is considered to be safe, convenient and secure in comparison to carrying Traveller's cheques.

The Wennapuwa Branch of Union Bank celebrated its 1st year anniversary on 01st December 2010. Madawa B Almeida, Manager of the branch along with his team organized a simple ceremony with the presence of top management and customers to mark this event.

Conceptualized to bring feelings to banking, Union Bank unveiled its new corporate campaign depicting visuals that are close to people and their life styles with the objective of creating a stronger connection with people. Through this campaign the Bank also introduced its new pay offline “obey diyunuwe bankuwa”, inline with its new strategic direction and expansion policy.

Union Bank has reported a significant upturn in its performance for the half year ended 30 June 2010. The Bank’s Pre-tax Profits improved by 65% to record Rs 110.3 M up from Rs 66.8 M for the period ended 30 June 2009 whilst Post-tax Profits increased by 54% to Rs 50M corresponding to the results achieved for the identical period last year.

Union Bank opened its newest branch in Atchuvely on 20th September 2010. The branch was ceremonially opened by Mr. Alex Lovell, Director Union Bank with the presence of Mr. Nilanth De Silva , Acting Chief Executive Officer /Chief Operating Officer, amongst a large and representative gathering of invitees and dignitaries from the local community. The branch is located at Sannathy Road, in the Paththamany, Atchuvely.

Union Bank Launched the Mega Dinum promotion in November 2009, offering customers a Brand New Maruti Suzuki Alto car and 02 years free fuel as the super prize, in addition to providing an opportunity to double the account balance every quarter and win gold coins every month. This is the first time a prize of a car was offered along with free fuel for 2 years.

The first pawning wipe out draw of Union Bank was held on 12th November 2010 at the Union Bank Head Office in Colombo. RanOne Wipe Out promotion of Union Bank is the first ever such draw a Bank has held, providing its customers a chance to take their pawned jewellery home for free. The draw attracted many new customers to Union Bank. The winners who won the first, second and third prizes of Rs. 100,000, 75,000 and 50,000 respectively.....