Our entire operation is designed with superior customer care, which is a core discipline, as the model. The Bank uses the unique concept of “Bank Roaming” which gives the freedom to transact business on one's account, from any one of the Bank's branches.

This is to be contrasted with the traditional branch arrangement and enables the customer to expect consistent, predictable and standard service from any of our branches. Ten branches are in and around Colombo with the others in major cities in the outstations, viz. Kandy, Kurunegala, Negombo and Matara.

The pursuit of quality as a core discipline was recognized and rewarded by being certified as ISO 9002 compliant for the full range of commercial banking services in October 1998. We have the distinction of being the first bank in Sri Lanka and probably the only bank in Asia to achieve such certification of international acceptance. The certification was done by Burea Veritias Quality International a highly reputed company based in Paris present across the globe. The number of “Firsts” achieved during the short period of existence gives credence to the tag line “If it is important to you It is important to us”.

In technology we have many firsts. We were the first in South Asia in screen phones, Internet banking and e mail banking, We were also the first in Treasury-derivatives, caps and collars, Customer Service-system generated deposit/withdrawal slips, automatic cheque-book dispatch, convenience-first drive up ATM and of course Bank Roaming, Deposit products-Super Savings for regular savers and "Piyawara" an innovative savings account for children. We were also the first bank in Sri Lanka to have a presence on the Internet with its own Web Server.

The success of providing a personalized service to a selected customer base is amply reflected in achieving the highest deposit to customer-ratio among the indigenous banks. The quality and productivity of the employees along with careful management of the head count has made us the Bank with the highest income to employee ratio among indigenous banks.

Customer deposits in excess of rupees 10.5 billion is in just thirteen years of operations is a clear indication of the confidence of the Bank enjoys among the general public. The loan book of approximately Rs. 7.5 billion is widely distributed among all major areas of economic activity.

Union Bank of Colombo Ltd in August 2003, was restructured and recapitalised by a Sampath Bank led consortium. The consortium, which comprises two Singapore based investment companies, namely Chinkara Capital and Caritano Venture Inc., also includes Sri Lanka's Penguin Group, Union Apparels, AMW and Associated Electricals. The National Savings Bank too had invested in this recapitalisation process.

Mr. Nilanth De Silva is the Acting CEO and Chief Operating Officer of the Bank. He is a Banker with extensive all round banking and leadership experience.

Signaling a landmark event in the country's banking history, the Middle East has shown keen interest by investing Rs. 420 million in Union Bank for the first time. Middle Eastern investors Prince Faisal Al Faisal Bin Abdullah Al Saud, the grandson of King Faisal of Saudi Arabia and distinguished Investment Banker Mr. Alex Lovell infused Rs. 210 million each as new capital, where by both investors will acquire a 10% shareholding in the bank. By the new capital infusion the bank will be compliant with the tier one capital requirement of Rs. 2.5 billion set by the Central Bank on all licensed Commercial banks by the end of 2009.

The new Board of Directors is chaired by Mr. Ajith De Zoysa with other members being Mr. Asoka de Silva (Deputy Chairman), Mr. Ananda Atukorala, Mr. Ajith Wijesekera, , Mr. Jith Warnakulasuriya, Mr. Malik Samarawickrama , H.R.H Prince Faisal Al Abdulla Al Faisal Al Saud (Altenate – Mr.Nigel Bartholomeusz), Mr. Alexis Indrajit Lovell (Alternate – Mr.Ashan de Zoysa), Dr. Harsha Cabral P. C, Mr. Anil Amarasuriya and Mr.Edgar Gunatunge (Advisor to Board of Directors)