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About Union Bank

Established in 1995, as the 8th indigenous Bank, Union Bank is amongst the top 5 commercial Banks in Sri Lanka in market capitalization, offering a full range of products and services to personal and commercial financial sectors.

Delivering a unique value proposition, backed by exceptional service, Union Bank continues to expand its reach across Sri Lanka through a robust channel strategy consisting of an island-wide branch network and alternate channels.

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News & Events

Fitch Upgrades Union Bank of Colombo to 'BB+(lka)'

UB's Fitch core capital ratio rose to 46% at end-3Q14 from 14% at end-2013 after an LKR11.4bn (USD87m) private placement of shares to Culture Financial Holdings Ltd., an affiliate of Texas Pacific Group (TPG) in August 2014. The placement gave TPG a 68% stake in the Sri Lankan bank, which could increase if TPG exercises warrants to invest a further LKR3.4bn within six years. TPG has approval from the Central Bank of Sri Lanka to increase its holding in UB to 75% and reduce it to 15% in 15 years. Read more

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