Union Bank commenced operations as the 8th indigenous bank in June 1995. The 18 foreign banks located mainly in Colombo serviced the top tier clientele concentrating on short-term trade related activities. All indigenous banks led by the two state owned banks served all segments of the urban as well as the rural markets.

Union Bank identified the segment of the middle and upper middle business institutions as the group which was not adequately served by the existing banks. It sought to fill the need by offering a wide range of financial services some of which were entirely new. By design we eschewed the “broad brush” approach and set out to serve the selected segment offering the right product at the right time choosing the right channel for delivery.

The Bank at the very inception adopted client intimacy / relationships, innovation and quality as its core values. To add value to a relationship continues to be the primary focus of the bank and all its endeavors are to enable clients enjoy a lifestyle free of existing barriers of time and distance.

Total focus was on the foregoing in preference to a large balance sheet and an extensive network of branch offices.