Union Bank sustained its growth momentum in the nine months ended 30 September 2026, recording strong improvements in profitability, core income and balance sheet growth.
Profit Before All Taxes (PBT) rose 48% year-on-year to LKR 1,744 Mn, while Profit After Tax (PAT) more than doubled to LKR 701 Mn, an increase of 104%.
Gross income grew 20% to LKR 15,803 Mn, while Net Interest Income (NII) increased 27% to LKR 5,039 Mn, supported by lending growth and a continued focus on core banking. Total operating income rose 9% to LKR 6,438 Mn, while operating expenses increased by 8% to LKR 4,974 Mn. Consequently, results from operating activities improved 49% to LKR 1,651 Mn.
The Bank’s total assets grew 20% to LKR 207,087 Mn. Net loans and advances increased 25% to LKR 138,329 Mn, while customer deposits rose 16% to LKR 138,096 Mn. Gross loans and advances reached LKR 145,433 Mn, while the net Stage 3 loans ratio improved to 8.0%, reflecting better credit quality.
At Group level, total assets increased 22% to LKR 224,591 Mn. Group Profit Before All Taxes (PBT) rose 51% to LKR 2,061 Mn, while Profit After Tax (PAT) increased 108% to LKR 723 Mn. The Group’s results include those of UB Finance PLC and National Asset Management Limited.
Commenting on the performance, Chairman Dinesh Weerakkody said, “The results for the first nine months of 2026 reflect the steady progress of Union Bank’s transformation and the resilience of its core banking franchise in a challenging environment. We remain firmly focused on sustainable growth, sound risk management and long-term value creation for all stakeholders.”
Director/Chief Executive Officer Dilshan Rodrigo added, “The strong growth in profitability, lending and deposits demonstrates the impact of disciplined execution across customer segments. We will continue to invest in products, distribution, digital capabilities and service excellence to build on this momentum.”
Photos;
Dinesh Weerakkody, Chairman, Union Bank
Dilshan Rodrigo, Director/Chief Executive Officer, Union Bank
