Union Bank has modernised its credit card business with BPC SmartVista, introducing a unified payment platform that gives the bank greater control over product development, integrations, data and customer experience. This initiative is an integral part of the Bank’s digital transformation agenda.

Nisala Kodippili, Chief Technology Officer, Union Bank, said “that with the new platform in place, the Bank now has a highly configurable environment that can be adapted to evolving business requirements without lengthy development cycles. A broad set of open APIs also simplifies integration with core banking, digital channels and surrounding systems, providing the capabilities needed to deliver more innovative features and services to customers. For customers, the upgrade enables innovative and personalised card products, stronger transaction security, integrated fraud protection and the faster introduction of new services.

Malinda Perera, Vice President – Head of Cards & Retail Products, Union Bank said “For Union Bank, the project offers greater operational control, reduced third-party dependency and more flexibility to respond to market demand. With the new platform now operational, Union Bank expects its credit card portfolio to grow substantially year-on-year over the coming years. Building a stronger credit card business required us to take greater ownership of the technology and data behind it.

Subash Chandra Bowse, Country Director Sri Lanka, Bangladesh and The Maldives, BPC Banking Technologies, added: “Sri Lanka’s banking market is evolving quickly, and institutions need payment infrastructure that supports both control and innovation. Union Bank has taken an important step in modernising its credit card business, and we are proud to support the bank with SmartVista platform that helps it launch new propositions faster, strengthen security and scale for long-term growth.”

Moving away from a legacy environment hosted outside the country gives Union Bank greater control and the Bank is now better positioned to deliver secure, relevant and enhanced credit card experiences to our customers. Looking ahead, Union Bank plans to continue expanding its card issuing capabilities, broaden international scheme support and introduce new customer propositions as its credit card business grows.

Photos
Nisala Kodippili, Chief Technology Officer, Union Bank of Colombo PLC
Malinda Perera, Vice President – Head of Cards & Retail Products, Union Bank of Colombo PLC
Subash Chandra Bowse, Country Director Sri Lanka, Bangladesh and The Maldives, BPC Banking Technologies

Union Bank recently opened its third Leasing Hub in Matara, offering faster and more convenient leasing solutions to customers. Union Bank Leasing Hubs serve as dedicated one-stop centres for all leasing requirements, providing easy access, speedy service, and an enhanced customer experience. In addition to delivering greater convenience, these hubs contribute significantly to the growth of the Bank’s leasing portfolio. The new leasing hub was ceremonially opened by Asanka Ranhotty Chief Business Officer – Union Bank in the presnece of customers.

Union Bank partnered with Toyota Lanka (Pvt) Ltd. to offer exclusive vehicle leasing and loan solutions tailored for Toyota customers, marking a significant milestone in supporting sustainable transportation. Through this collaboration, prospective Toyota buyers can access flexible financing options via Union Bank Leasing, featuring low monthly rentals, extended repayment periods of up to 7 years, and a comprehensive suite of value-added benefits designed to make vehicle ownership seamless and affordable.

Picture Caption : The official Memorandum of Understanding (MOU) was exchanged between Dilshan Rodrigo, Director/CEO of Union Bank and Masaaki Kawabata, Chairman of Toyota Lanka, in the presence of Asanka Ranhotty, Chief Business Officer – Union Bank, Manohara Atukorala – Managing Director/ CEO – Toyota Lanka and other key representatives from both organizations.

Dilshan Rodrigo, Director /Chief Executive Officer of Union Bank, has been re-elected as the Senior Vice Chairman of the Sri Lanka Institute of Directors (SLID) for the second consecutive year. The appointment was confirmed at the Institute’s Annual General Meeting (AGM) held recently. A dedicated and active member of SLID who previously served as Vice Chairman, Mr. Rodrigo’s continued leadership underscores his profound impact and ongoing contributions to corporate governance, excellence, and the wider corporate sector in Sri Lanka.

Union Bank opened its 2nd ATM/CDM in Trincomalee recently. The new cash point offering 24×7 cash deposits and withdrawals and is conveniently located at Uppuveli providing easy access to local community as well as foreign tourists for international cards.

First transaction was carried out by Mr & Mrs Sivapalan Krishanand Directors of Uppuveli Beach hotel by DSK in the presence of the Union Bank Trincomalee Team.

Union Bank reinforced its commitment to overseas Sri Lankan workers by signing a Memorandum of Understanding with the Sri Lanka Bureau of Foreign Employment (SLBFE) to promote the Ethera Diriya Housing Loans offering loans up to Rs. 10 million with repayment terms spanning up to 10 years to support migrant workers seamlessly convert their foreign earnings into secure, long-term family homes.

Photo: The MOU was formalized by SLBFE Chairman Mr. Koshala Wickremasinghe and Union Bank Chief Business Officer Mr. Asanka Ranhotty in the presence of officials from SLBFE and Union Bank.

Union Bank has been recognised at the Satyn Women-Friendly Workplace Awards 2026 for the second consecutive time, reaffirming the Bank’s commitment to building a diverse, inclusive workplace where women are empowered to lead, grow and thrive. Thishani Dissanayake, Vice President Marketing said “Union Bank continues to support and empower women at every level providing diverse opportunities for growth and this award is a proud reflection of the dedication, efforts and strength of all women at Union Bank”.

Photo:
(L to R) Nilusha Wanasinghe, Senior Manager – Marketing Union Bank, Nayomini Weerasooriya Founder/Editor of Satyn Magazine, Dr Samantha Rathnayake Head of the Panel of Judges, Devani Konara Chief Manager Human Resources and Thishani Dissanayake, Vice President – Marketing, of Union Bank.

As part of the third phase of the National Entrepreneurship Development Programme (NEDP), Union Bank recently conducted a workshop at its Head Office for participants of the programme.

The workshop was well attended by aspiring entrepreneurs from across the country, including from the North and East. The sessions were conducted by Union Bank team members and provided participants with valuable insights into industry practices and business processes, covering key areas essential for business growth and sustainability, including trade services, financing, and legal aspects of business start-ups and operations.

The NEDP is a key initiative of the Union Bank School of Social Entrepreneurship, in partnership with the University of Moratuwa and the National Innovation Agency. The programme is designed to empower entrepreneurs and business owners with the knowledge, innovation, technical expertise, and financial support required to transform viable business ideas.

Picture caption: Union Bank representatives and the NEDP programme participants at the conclusion of the workshop.

Union Bank is pleased to announce the appointment of Mr. Anil Keshary Shah as a Non-Independent Non-Executive Director to the Board of Directors.

Mr. Anil Keshary Shah is a distinguished banking professional and leadership consultant with over three decades of experience in banking, finance, strategic leadership and business management across Nepal and South Asia. He has held several prominent leadership positions in the banking sector, including serving as Chief Executive Officer of Nabil Bank Limited, Nepal’s leading private sector bank, and Chief Executive Officer of Mega Bank Nepal Limited. Prior to these appointments, he served as Head of Consumer Banking and Chief Operating Officer of Standard Chartered Bank Nepal Limited.

Mr. Shah currently serves as Chairperson of Lead Nepal Inc., a leadership development organization focused on nurturing future leaders and promoting inclusive growth. He also serves as a Non-Executive Director of Nabil Bank Limited and is actively engaged as an advisor and mentor to several educational, social and sustainability-focused organizations, including Teach for Nepal and WWF Nepal. He is a former President of the Nepal Bankers’ Association and has contributed to public policy and investment promotion initiatives through his association with the Nepal Investment Board.

Throughout his career, Mr. Shah has received numerous accolades in recognition of his leadership and contributions to the banking industry, including the Manager of the Year 2008 award conferred by the Management Association of Nepal, Top CEO awards in 2005, 2006 and 2007 and Asia’s Idol 2007 recognition by the Asia News Network. Under his leadership, Nabil Bank was awarded Bank of the Year 2004 by The Banker magazine of the Financial Times Group.

Mr. Shah holds a Bachelor of Business Administration in International Business Finance from the George Washington University, USA, and a Master of Business Administration from the Faculty of Management Studies, University of Delhi, India. He has also completed Executive Education in Leadership for the 21st Century at the John F. Kennedy School of Government, Harvard University.

Photo:  MR. ANIL KESHARY SHAH

Union Bank successfully hosted Union Bank Pensioners’ Day at the Bank’s Head Office, bringing together pensioners for a dedicated event focused on their financial wellbeing, healthcare and lifestyle needs. The event coincided with the Bank launching Sri Lanka’s most competitive pension Loan extending a loan of rupees eight million at the lowest interest rates along with added benefits including Rupees thirty thousand worth of free PickMe rides annually to Government Pensioners

The Banks primary objective is to empower pensioners for an independent retirement. Based on the theme ‘Make your retirement a strength not a burden’ Union Bank pensioners day event was attend by the Director General of Pensions Department Chaminda Hettiarachchi and featured a range of value-added services offered through partnerships with BYD JKCC Sri Lanka Nawaloka Hospitals, Vision Care, Lifeserv , and several other organizations, providing medical benefits, health screenings, and essential services to the attendees from across the country who gathered at Union Bank for an engaging day.

Speaking at the event Mr. Hettiarachchi, Director General of the Pensions Department, said that this is the first time a private bank has taken such an initiative to conduct event focused on empowering pensioners. He also highlighted that the Pensions Department has empowered and provided flexibility to the pensioners to obtain the pension loan from a bank if their choice.

Picture Caption: Mr Chaminda Hettiarachchi Director General of the Pensions Department, Dilshan Rodrigo Director CEO, Corporate Management team of Union Bank, popular actor Sriyantha Mendis along with customers at the event.

Union Bank is pleased to announce the appointment of its Director/Chief Executive Officer, Dilshan Rodrigo, to the Board of Directors of LankaPay, Sri Lanka’s National Payment Network. This appointment reflects Mr. Rodrigo’s extensive experience and leadership in the banking and financial services sector, as well as his commitment to advancing innovation and digital transformation within the industry. As a Director of LankaPay, Mr. Rodrigo will contribute to strengthening Sri Lanka’s national payments infrastructure and supporting the continued development of secure, efficient, and inclusive digital payment solutions. His appointment further reinforces Union Bank’s commitment to driving progress and fostering collaboration across the country’s financial ecosystem.

Union Bank is proud to announce the launch of the new Union Bank Pension Loan, to empower Government pensioners live their retirement with dignity and strength. Introduced under the warm and empowering theme “විශ්‍රාම ජීවිතේ බරක් නොවී බලයක් කරගන්න!” (Make your retirement a strength, not a burden), this special loan is designed to be the most rewarding financial solution for Government pensioners.

Also available for widow pensioners, Central Bank retirees, and armed forces members not in service, this loan is built to give retirees true financial freedom. Whether it is for building a home, fulfilling a lifelong dream, handling personal expenses, or creating an income generating avenue, Government pensioners can borrow up to Rs. 8 million with a very comfortable repayment period of up to 15 years. To make the process as easy and stress-free as possible, the bank offers low interest rates and fast approvals with no personal guarantors required.

Malinda Perera, Vice President Retail Products and Cards at Union Bank said, “What makes this loan truly unique are the free daily lifestyle benefits that Union Bank is adding to care for its customers. Union Bank provides the highest loan value of Rs. 8 million and is the only bank provide some key benefits. Pensioners will receive LKR 30,000 worth of free PickMe rides every year for safe and independent travel, alongside a yearly health package worth LKR 7,000 that covers medical screenings at Nawaloka Hospitals and cash back for medicine during their birthday month along with other benefits. Pensioners will also receive a pre-approved Union Bank Credit Card as an extra safety cushion for sudden financial emergencies.

More details on the Union Bank Pension Loan is now available on www.unionb.com or pensioners can simply call 0117818181 for details and assistance.

In Picture : Malinda Perera, Vice President Retail Products and Cards

Union Bank partnered with David Pieris Automobiles (Pvt) Ltd to promote leasing and loan facilities to new vechicle buyers offering special interest rates and customised financing solutions with value-added benefits for BAIC and GWM range of vechicles.

Union Bank has strengthened its collaboration with the Sri Lanka Export Credit Insurance Corporation (SLECIC) to significantly enhance financial solutions for Sri Lankan migrant workers. The partnership was formalized recently with the official sharing of an APARA Guarantee. The event was held with the participation of Prof. Aruna Shanthaarachchi, Chairman & Managing Director of SLECIC and Asanka Ranhotty, Chief Business Officer of Union Bank alongside officials from both organizations. This initiative enables the Bank to offer pre-departure loans to migrant workers backed by robust credit insurance guarantees, ensuring greater financial access and security. The credit guarantee mechanism supports banks in extending financing with reduced risk, empowering migrant workers to pursue overseas employment opportunities with confidence.

Speaking to an elite group of boardroom leaders alongside global authority Dr. Noel Tagoe, Dilshan Rodrigo, Director/CEO Union Bank shared powerful insights on how modern executives must move beyond traditional models to drive digital transformation, navigate AI disruption, and exert decisive strategic influence in today’s complex corporate landscape.

Dr. Binod Chaudhary, Chairman of CG Corp Global and Nepal and Asia’s business visionary, recently made an official visit to Union Bank’s newly established premier Digital Zone located at the VFS Global Centre in Colombo. Dr. Chaudhary was joined by of Manpreet Singh Arora Country Manager VFS Global in Sri Lanka and Maldives and Mr. Dinesh Weerakkody, Chairman of Union Bank. As the principal shareholder of Union Bank under the CG Corp Global umbrella, Dr. Chaudhary’s visit underscores the Group’s steadfast commitment to spearheading Union Bank’s digital and technological transformation.

Dr. Binod Chaudhary, Chairman of CG Corp Global and Nepal’s preeminent billionaire, shared profound insights on navigating the complexities of global business leadership at Chairman & CEO Forum, organized by the Sri Lanka Institute of Directors (SLID) together with Union Bank and Port City. At the event as a symbolic gesture Dr. Chaudhary presented a signed copy of his book Made in Nepal, which chronicles his journey of building a global conglomerate from the Himalayas to Mr. Krishan Balendra, Chairperson of John Keells Holdings PLC.

Union Bank is pleased to announce the appointment of Ms. Shaheeda Barrie as an Independent Non-Executive Director to the Board of Directors.

Ms. Barrie brings over 25 years of distinguished legal and regulatory experience, with expertise in public law, financial regulation, banking and finance, capital markets, and complex commercial litigation and arbitration. She served for 22 years at the Attorney General’s Department of Sri Lanka, rising to the position of Deputy Solicitor General, where she advised and represented the Government of Sri Lanka, financial regulators, state-owned enterprises, and public institutions on high-value and high-impact matters.

She played a key role in legislative drafting and financial sector reform, including important legislation relating to the Central Bank of Sri Lanka, the Securities and Exchange Commission of Sri Lanka, public debt and capital markets, and the Colombo Port City. Her career also includes service as Legal Advisor to the Central Bank of Sri Lanka, Legal Consultant to the Securities and Exchange Commission, and as a member of the Company Law Advisory Commission of Sri Lanka.

Following her retirement from public service, Ms. Barrie heads her own legal chambers and continues to advise on complex litigation, arbitration, regulatory matters, and legislative reform, including consultancy work with multilateral institutions such as the World Bank, Asian Development Bank, USAID, and the International Finance Corporation. She currently serves as a Director of the Personal Data Protection Authority of Sri Lanka.

Ms. Barrie is an Attorney-at-Law of the Supreme Court of Sri Lanka and a Barrister-at-Law of England and Wales (Gray’s Inn), and holds advanced legal qualifications from the London School of Economics, the University of Oxford, and the American University, Washington College of Law. Union Bank welcomes Ms. Barrie and looks forward to her valuable contribution to the Board and the Bank’s continued growth and strong governance.

Union Bank of Colombo PLC
Media Release
20 April 2026, Colombo Sri Lanka

The 31st Annual General Meeting of Union Bank was held on March 31 at the Sri Lanka Foundation Institute, Colombo. The meeting was chaired by Mr. Dinesh Weerakkody, Chairman of Union Bank, and was attended by members of the Board and shareholders.

Union Bank of Colombo PLC
Media Release
16 April 2026, Colombo Sri Lanka

Union Bank continues to transform digital banking for businesses with the introduction of a simplified virtual deposit card to support bulk deposits through Cash Deposit Machines (CDMs). The new facility is designed to support any business entity from corporates to SMEs and proprietors who regularly carry out high volume cash deposits during anytime of the day. The solution offers a secure and efficient way to manage bulk cash deposit transactions with ease and control. Recognising that many businesses rely on trusted agents, the virtual deposit card enables business owners to register their representatives to carry out deposits on their behalf and allows the Bank to identify the depositors. With no physical card required, this service enables multiple deposits with up to 200 notes per transaction.

Manisha Fernando, Vice President – Digital Banking said, “With a digital first agenda Union Bank places strong emphasis on security, controls and compliance. All nominated and authorised representatives are registered to the virtual deposit card only after a comprehensive Know Your Customer (KYC) process. The Virtual Deposit Card enables the registered agents and nominees of customers to deposit funds to the specifically designated accounts of the customer through any Union Bank CDM at any time with ease. All they need is their mobile phone. Additionally, the customer has the option to remove or add new agents at any time through a simple process, whilst the Bank has the ability to identify the depositor. We believe that this service will allow businesses to manage high volume deposits efficiently while reducing transaction delays greatly”.

Picture Caption : Manisha Fernando, Vice President – Digital Banking

Union Bank recently opened its second Leasing Hub in Negombo offering faster leasing solutions to customers. The First Union Bank leasing hub was opened in Kohuwala and is located centrally amongst the vehicles sales centres. The Union Bank leasing hubs are one stop shops for leasing solutions. Whilst providing easy access and speedy services for customers they contribute significantly towards the growth in the Bank’s leasing portfolio. The Union Bank Negombo leasing Hub was opened by Dilshan Rodrigo, Director/CEO of Union Bank in the presence of customers.

Union Bank of Colombo PLC announced its proposed Debenture Issue 2026, a strategic move aimed at raising up to LKR 3 billion. This issue is designed to bolster the Bank’s Tier II capital base and provide a robust financial foundation for its upcoming growth initiatives.

The offering consists of Basel III compliant, listed, rated, unsecured, subordinated, redeemable high-yield debentures with Non-Viability Conversion. The instrument has been assigned a rating of BB (lka) by Fitch Ratings (Lanka) Ltd, reflecting the bank’s creditworthiness and the structured nature of the subordinated debt.

Investors can choose from three distinct interest structures starting from a high-yield 13% fixed rate per annum (Type A). This option is paid annually, while Type B offers a 12.5% fixed rate paid semi-annually (12.89% AER). For those seeking market-linked returns, Type C provides a floating rate of the 182-days Treasury Bill rate plus a 400-basis point margin, also paid semi-annually.

The debentures are priced at LKR 100 per unit with a 5-year tenure (2026–2031). The initial issue size is set at 20,000,000 debentures with an option to raise 10,000,000 at the discretion of the Bank and is scheduled to open on 10 March 2026.

Shanka Abeywardene, Chief Financial Officer of Union Bank stated “This debenture issue marks a significant step in the Bank’s journey towards enhanced financial stability. By strengthening its capital adequacy, Union Bank is well-positioned to navigate evolving market conditions while fuelling its long-term strategic objectives for sustainable growth”

Managers and Placement Agent for the issue are First Capital Advisory Services Pvt Limited. Further details and the full prospectus are available on the Bank’s website at www.unionb.com.

Union Bank recognised its top performers at the UB Heroes 2025 awards, the Bank’s performance‑based recognition initiative that honours exceptional achievement across categories including Branch Awards, Central and Retail Recovery Awards, CSAT (Internal Customer Service) Awards and Green Awards. Head Office Branch was recognised as a leading performer for its exceptional outcomes across seven key performance indicators (KPIs), while several other branches and departments were also acknowledged for their contributions and commitment in the pursuit of excellence. The awards were presented by Dilshan Rodrigo, Director/Chief Executive Officer.

Picture Caption: Head Office Branch Team, winner of the 7 KPIs Top Performer Award, with Dilshan Rodrigo, Director/CEO of Union Bank

As part of the Union Bank School of Social Entrepreneurship (UBSSE) initiative, Union Bank partnered with the University of Moratuwa and the National Innovation Agency to upskill and empower SMEs under the National Entrepreneurship Development Program (NEDP). Recently, yet another group of emerging entrepreneurs successfully completed the programme and received their certificates.

Picture Caption:
Asanka Ranhotty Chief Business Officer, Thishani Dissanayake Vice President Marketing of Union Bank and Prof Dinesh Samarasinghe, Dean and Dr Gayithri Kuruppu Head of the Faculty of Business, of University of Moratuwa awarding the NEDP certificates