Exchange Rates (5/22/2013)
Established in 1995, as the 8th indigenous Bank, Union Bank is positioned to be the preferred Bank for the Small and Medium Enterprises and Retail sectors in Sri Lanka. As one of Sri Lanka's fastest growing Banks, Union Bank offers its preferred customer segments a range of comprehensive financial solutions to support the development and growth of these sectors. Known for its strong shareholder strength which includes high caliber local and foreign inventors, financial stability, innovative range of technology-driven products, supported by superior service delivery enables Union Bank to forge ahead as a key player in the Banking industry in Sri Lanka.
In order to deliver the Bank's unique value proposition to customers, Union Bank continues to expand its reach and the Bank’s branch network consists of 36 branches, inclusive of 7 branches in the Northern and Eastern Sri Lanka and new branches are expected to open in several new areas in the coming year and beyond.
Listed in the Colombo Stock Exchange in March 2011, the Bank's Initial Public Offering (IPO) received overwhelming response making the IPO one of the highest oversubscribed in Sri Lanka and globally further highlighting public confidence in Union Bank as a rapidly progressing and potential business entity.
The Bank's expansion also includes the Bank actively pursuing opportunities for related diversifications in the Finance Industry and as such acquired 51% stake in National Asset Management Limited, Sri Lanka's premier Asset Management Company in February 2011 and subsequently in November 2011, acquired 98% of voting shares with a strategic foreign investor Shorecap in The Finance and Guarantee Company Limited, one of Sri Lanka's oldest finance companies established in 1961.