Extending its exclusive banking services Union Bank recently opened its newest Elite Circle Centre at the Union Bank Negombo branch offering customers personalised and premium banking services. The new Elite Circle Centre was opened by Dilshan Rodrigo, Director CEO of Union Bank joined by the Bank’s Elite Circle customers. The New Elite Centre provides exclusive comforts for banking and networking.
Union Bank and the Institute of Bankers of Sri Lanka (IBSL) officially signed a Memorandum of Understanding (MOU) to advance practical training for students pursuing careers in banking and finance. The agreement was ceremoniously exchanged between Mr. Jayantha Amarasinghe, Chief People & Transformation Officer of Union Bank, and Mr. C. P. A. Karunatilake, Director General of IBSL. This partnership highlights Union Bank’s commitment to bridging academic knowledge with real-world experience, offering IBSL students structured hands-on training aligned with the Institute’s Practical Training Guidelines.
Union Bank of Colombo PLC announced its financial results for the first quarter ended March 31, 2025, highlighting strong loan growth and balance sheet expansion.
Demonstrating strategic focus and resilience, Union Bank recorded a 14% year-on-year increase in net loans, underscoring the Bank’s momentum in lending and its commitment to supporting retail, SME, and corporate sectors. This healthy credit growth highlights the Bank’s strengthened position in the financial services sector. Reflecting this lending momentum, the Bank’s total assets rose to LKR 161 billion, marking a 10% increase from December 2024. Deposits grew by 2% to LKR 106 billion, reinforcing the Bank’s funding base. Asset quality improved, with the stage 3 impairment ratio reducing to 11.0%, from 12.26% at the end of the previous year highlighting the Bank’s strong recovery focus. Additionally, the Bank continues to maintain a robust capital adequacy ratio of 14.33%.
Net operating income increased by 11% year-on-year to LKR 1.75 billion, supported by improved asset quality and effective risk management. Net fee and commission income rose by 3% to LKR 284 million driven by the growth in digital banking, card services, and trade-related activities. Gross income and net interest income were impacted by changing market conditions and interest rate movements, however the Bank’s revenue mix remained healthy and strategically diversified. Union Bank posted a profit before taxes of LKR 285 million at the Bank level, maintaining earnings stability despite income pressures and ongoing investments in digital infrastructure and operational expansion.
At the Group level, Union Bank reported a profit before taxes of LKR 329 million, with Group total assets reaching LKR 171 billion. Union Bank holds a 95% share of the Union Bank Group, which includes subsidiaries National Asset Management Ltd and UB Finance PLC, contributing to the Group’s consolidated performance and strategic diversification.
The Bank continues to make strides in its digital journey with the implementation of Video KYC (VKYC) improving client convenience. Further, the Banks commitment to SME and financial inclusivity has been strengthened with the ‘Power HER’ proposition, Sri Lanka’s first women’s banking proposition offering a free, fully integrated cash management solution tailored and the first National Entrepreneurship Programme—a milestone initiative conducted in collaboration with the University of Moratuwa and the National Innovation Agency (NIA).
Union Bank is pleased to announce the appointment of Mr. Shanka Abeywardene as its new Chief Financial Officer (CFO).
A results-driven and transformative finance professional, Mr. Abeywardene brings over 30 years of local and international experience in financial strategy, reporting, and business performance optimization. His career is marked by a strong track record of enhancing financial performance, driving organizational change, and delivering sustainable value across dynamic banking environments.
Mr. Abeywardene most recently served as the Chief Financial Officer of SANASA Development Bank in Sri Lanka, where he also played the role of Acting Chief Executive Officer leading critical financial restructuring, business growth and strategic transformation initiatives. He also held key positions at National Development Bank (NDB), Mashreq Bank and Standard Chartered Bank in the UAE.
He is a Fellow of the Chartered Institute of Management Accountants UK, holds a Master of Science (MSc) from SKEMA Business School in France, and an Executive Diploma in Management from the University of Cambridge, UK.
Commenting on the appointment, Dilshan Rodrigo, Director/CEO of Union Bank said:
“We are pleased to welcome Shanka to Union Bank at a time of strategic growth. His rich blend of local and international experience, combined with his sharp financial insight and leadership capabilities, will be vital as we move forward in delivering our long-term vision.”
Union Bank remains committed to strengthening its leadership team as it continues its journey towards becoming a digitally innovative, customer-focused banking partner.
Union Bank as part of its transformation continues to evolve its digital first approach to providing enhanced customer experience. As part of its digital agenda the Bank recently unveiled several new features to its mobile banking platform UBgo.
UBgo is designed to simplify and enhance the banking experience for customers and transforms the way finances are managed by offering a gamut of convenient services from fund transfers, instant opening of savings and fixed deposits, fast QR payments, payee management and bill payments, cards and more enabling easy banking on the go. In its recent revamp, as a key highlight the app now offers video KYC facility, enabling hassle free account opening without visiting a branch. Enabling easy engagement with the Bank, the app also provides the Call-Back requests for assistance.
Manisha Fernando, Vice President of Digital Banking, said, “The bank’s continues to transform the lives of our customers through digital innovations and service excellence and providing the best digital banking experience is a top priority. The recent revamp of the UBgo mobile banking app, enables the bank to successfully penetrate its preferred target markets of affluent customer segments and particularly the GenZs whilst creating added value and an enhanced banking experience for our existing customers. Union Bank is the first bank to be recognised with the ISO 27001:2022 certification and Payment Card Industry Data Security Standard (PCI DSS) v4.0 for maintaining the highest standards of Data Security. The app also offers secure biometrics and controls to ensure a safe banking experience to customers. The app will continue to evolve as a future ready digital solution aligning to changing consumer needs and market dynamics”.
As part of the Bank’s transformation and new strategic vision the Bank continues to enhance skills and knowledge of employees. The Bank recently hosted an engaging event to enhance product knowledge of the front-liners at Union Bank Branches under the theme Product Power 2025. Extensive insights to product and sales were shared by the Bank’s very own product specialists covering key product areas, such as Savings & Investments, loans, credit cards, pawning, leasing, digital banking and SME value propositions. Over 200 branch staff participated in the first round and enjoyed a day of knowledge sharing and engaging activities including an online product quiz. The forum was address by Dilshan Rodrigo, Director/Chief Executive Officer, who outlined the Bank’s strategic vision and goals for 2025 and emphasised on the Bank’s commitment to continuous transformation and staff engagement initiatives to drive growth and development.
As part of the Bank’s ongoing customer engagement initiatives Union Bank recently hosted a Financial Expo in Jaffna, bringing together customers and business partners to one forum. John Keells Properties, Prime Group, United Motors and Fairfirst joined the expo offering Union Bank customers exclusive deals on real estate, automobile and insurance.
Union Bank is proud to announce a major milestone for the Union Bank School of Social Entrepreneurship with the launch of the National Entrepreneurship Development Programme (NEDP).
As academic activities for 2025 commence, Union Bank takes the lead as the first to inaugurate this groundbreaking initiative in partnership with the University of Moratuwa (UoM)and the National Innovation Agency (NIA).
With applications called across the island in December 2024, two hundred shortlisted students, current business owners and aspiring entrepreneurs with innovative startup ideas enrolled in the programme and were present at the event.
A combination of online lectures and workshops, the programme covers a comprehensive course outline needed to develop business acumen. This milestone event marks the beginning of a transformative journey to upskill business owners and budding entrepreneurs. As an event highlight Union Bank customers joined, to share their inspiring entrepreneurial journeys adding much value to the initiative. Together, we’re fostering entrepreneurship, innovation, and a brighter future for Sri Lanka.
Caption: The shortlisted applicants with the representatives from Union Bank, the University of Moratuwa (UoM) and the National Innovation Agency (NIA) at the launch of the National Entrepreneurship Development Programme.
Union Bank is pleased to announce the appointment of Mr. Mahesh Nanayakkara as an Independent Non-Executive Director to its Board.
With over 30 years of experience in the financial services industry, Mr. Nanayakkara brings extensive expertise and leadership to Union Bank. He currently serves as the Managing Director and Chief Executive Officer of Citizens Development Business Finance PLC (CDB), where he has led a remarkable transformation, elevating CDB to its position as one of Sri Lanka’s top four non-banking financial institutions.
Mr. Nanayakkara’s commitment to social impact is exemplified by his role in establishing the Autism Trust Fund, a collaboration between CDB and the Sri Lanka Association for Child Development (SLACD), which focuses on raising awareness and facilitating early detection and intervention for autism in Sri Lanka.
He holds a BSc. in Business Administration and an MBA from the Postgraduate Institute of Management, University of Sri Jayawardenepura. A Fellow of the Chartered Institute of Management Accountants (UK), Mr. Nanayakkara has further enhanced his expertise through executive training at Harvard Business School and the Cambridge Center for Alternative Finance, University of Cambridge.
Union Bank warmly welcomes Mr. Nanayakkara to its Board and looks forward to benefiting from his insights and strategic leadership as the Bank continues its journey of growth and excellence.
In picture: Mr Mahesh Nanayakkara
Union Bank Senior Vice Presidents, Mr. Jayantha Amarasinghe and Ms. Chaya Jayawardane, along with Singhagiri CEO, Mr. Lasantha Alwis, exchanging the Memorandum of Understanding (MoU), with other officials from both organizations also in attendance.
Union Bank partnered with Singhagiri Solar to expand Sri Lanka’s renewable energy capacity. This collaboration offers exclusive solar discounts to customers, employees, and property owners, along with tailored financial solutions such as loans, leasing, and 0% installment plans empowering sustainable energy adoption.
Union Bank of Colombo PLC is pleased to announce the appointment of Mr. Nirvana Chaudhary as the new Deputy Chairman of the Bank, following the retirement of Mr. Trevin Fernandopulle, the former Deputy Chairman. Mr. Nirvana Chaudhary, is a Non-Independent Non-Executive Director on the Union Bank’s Board since October 2023 and is the Managing Director of CG Corp Global, a diversified multinational conglomerate with a strong presence across various sectors. CG Capital Partners, an affiliate of CG Corp Global, is also the major shareholder of Union Bank, further strengthening the strategic partnership between the two organizations. Mr. Chaudhary’s vast experience in global business strategy, leadership, and corporate governance will be instrumental as Union Bank continues to expand and enhance its services in the financial sector.
Picture Nirvana Chaudhary, Deputy Chairman, Union Bank
Under the Union Bank School of Social Entrepreneurship (UBSSE), the bank is proud to announce the launch of its first initiative, the National Entrepreneurship Development Programme (NEDP), in partnership with the University of Moratuwa and the National Innovation Agency. This collaborative effort is designed to empower aspiring entrepreneurs and those with viable start-up ideas across Sri Lanka, providing them with the essential skills and knowledge to grow and scale their businesses.
Thishani Dissanayake, Vice President of Marketing at Union Bank, stated, “UBSSE is inspired by the successful NabilSSE initiative by Nabil Bank of the CG Corp Global Group in Nepal, and is championed by Nirvana Chaudhary, Managing Director of CG Corp Global and Deputy Chairman of Union Bank with his vision to empower entrepreneurs and foster a vibrant entrepreneurial ecosystem in Sri Lanka. This initiative is indeed a value addition that we are excited to offer our SME customers, helping them upscale their business acumen and drive growth. Importantly, the NEDP is open not only to Union Bank customers but to the public at large, ensuring that aspiring entrepreneurs from all corners of Sri Lanka have the opportunity to benefit from this valuable programme.”
The NEDP is an online-plus-workshop programme that offers a comprehensive learning experience in key business areas such as Strategic Development, Marketing & Branding, Labour Law, Business Planning, Accounting & Finance, Compliance, Intellectual Property, and Leadership. Participants will benefit from expert guidance, interactive workshops, and hands-on training, designed to help them enhance their entrepreneurial abilities and scale their businesses. A certificate will be issued upon successful completion of the programme. Open to Sri Lankan citizens aged 18 and above, the NEDP has 200 seats available for selected candidates. This is a unique opportunity for participants to develop the skills necessary to drive business growth and innovation across the country.
Applications are now open for the programme, and interested candidates are encouraged to apply early as spaces are limited. For more information and to apply, please visit www.unionb.com or contact 0117818181 or the nearest Union Bank branch.
The Board of Directors of Union Bank is pleased to announce the appointment of Dr. Dharmasri Kumaratunge as an Independent, Non-Executive Director.
As the Bank continues to place a strong emphasis on digital transformation, his extensive experience in banking, finance, technology, and public policy will be of immense value to shaping the Bank’s strategic direction.
Dr. Kumaratunge brings with him over 35 years of distinguished experience in the fields of Banking and Finance, Financial Technology, IT, International Trade, Payment Processing, Information and Communication Technology (ICT), and Digital Transformation. His extensive career includes leadership roles at prominent national institutions and international organizations, showcasing his in-depth knowledge of the evolving financial ecosystem. Notably, Dr. Kumaratunge served as the Assistant Governor of the Central Bank of Sri Lanka (CBSL) and held the position of Director of the Payments and Settlements Department at CBSL from 2016 to 2022. He has also been at the forefront of Sri Lanka’s digital transformation, serving as Secretary to the Ministry of Technology until September 2024. His work at CBSL, coupled with his tenure as Chairman of the Telecommunications Regulatory Commission of Sri Lanka and the Information and Communication Technology Agency, has been instrumental in advancing key sectors of Sri Lanka’s economy. Additionally, he has been actively involved in several committees including Cabinet appointed committees focused on exploring digital banking, blockchain technology, open banking, shared KYC and the efficient utilization of financial systems.
In his current role as a Consultant for Public Policy at Mastercard Sri Lanka and Maldives, Dr. Kumaratunge continues to contribute significantly to the growth of financial services in the region. His expertise has also been sought by various international bodies, including the International Trade Centre (UN) and the Asian Clearing Union (ACU), where he served as Alternate Country Director. Additionally, he has been actively involved in several committees focused on exploring digital banking, blockchain technology, and the efficient utilization of financial systems.
In a groundbreaking partnership, John Keells Properties (JKP) and Union Bank are proud to offer the ZERO-DOWN homeownership plan for buyers of the VIMAN Ja-Ela project. This first-of-its-kind financing solution was born out of a shared commitment by these two industry leaders to make homeownership more accessible, with a unique model that allows buyers to purchase their VIMAN Ja-Ela apartment without the burden of an upfront payment.
With Zero Down, Union Bank will provide 75% of the project funding upfront to customers as a Union Bank home loan, and will be disbursed in stages as per a milestone plan. During the project period, customers will pay only the monthly equated Union Bank home loan installment. The final payment of 25% equity by the customer has to be made directly to JKP at the end of the project, in approximately two years.
ZERO-DOWN by John Keells Properties & Union Bank is more than just a financial product; it’s a promise of security and opportunity and aims to transform the real estate landscape by making VIMAN Ja-Ela more within reach than ever before. This unique homeownership solution comes at a crucial time, as demand for flexible, affordable financing options is on the rise among young professionals and families. The ZERO-DOWN plan enables potential prospects of VIMAN Ja-Ela to secure their apartment with no upfront costs, breaking down the initial financial barriers that have traditionally deterred buyers, and also help buyers approach their financial planning with clarity and confidence.
“ZERO-DOWN represents a visionary approach to homeownership in Sri Lanka,” said Nadeem Shums, Head of Sales and Marketing for John Keells Properties and Vice President of John Keells Group. “We’ve seen how upfront costs can discourage even the most determined buyers. With ZERO-DOWN, we’re making it possible for Sri Lankans to own a VIMAN Ja-Ela apartment sooner and with greater financial flexibility. This initiative reflects John Keells Properties’ commitment to Creating New Worlds – not just through our developments but by reshaping how people experience homeownership itself.”
“Union Bank is proud to collaborate with John Keells Properties to introduce ZERO-DOWN, a truly transformative financial solution,” said Chaya Jayawardane, Senior Vice President Retail Banking at Union Bank. “This initiative empowers buyers with the flexibility and confidence needed to secure their home at VIMAN Ja-Ela without the financial strain of an upfront payment. It’s a direct response to the changing financial landscape and our customers’ evolving needs.”
Spanning 6 acres, with 65% of the land dedicated to open spaces and amenities, VIMAN Ja-Ela has quickly captured the attention of discerning homebuyers and investors since its highly anticipated launch in September 2023. With over 80% of apartments in Phases 1 and 2 already sold, this is an exciting time to explore what this unique community has to offer. Located in the heart of Ja-Ela, VIMAN Ja-Ela is just 10 minutes from the Colombo-Katunayake Expressway facilitating a 30-minute commute to Colombo city. With over 15 thoughtfully designed amenities – including lush green spaces, meditation courts, a kids’ play area, an outdoor sports courts, and cycling/walking paths – the project aims to create a holistic living experience.
John Keells Properties is Sri Lanka’s largest real estate developer, known for their commitment to quality, innovation, and sustainability. Through their vision of Creating New Worlds, John Keells Properties continues to push the boundaries of modern living, with successful projects redefining modern living in Sri Lanka.
Union Bank is a prominent private commercial bank in Sri Lanka, offering a wide range of financial solutions to Retail, SME, and Corporate segments. Known for its strong capital base and financial stability, Union Bank is an affiliate company of CG Corp Global a leading multinational conglomerate and the largest shareholder of Nabil Bank in Nepal. Union Bank operates 61 branches across Sri Lanka, supported by digital banking, a 24-hour call center, and an island-wide ATM network, ensuring convenient access to financial services. Union Bank’s subsidiaries include National Asset Management Limited and UB Finance Company Limited.
For more information about the ZERO-DOWN homeownership plan for VIMAN Ja-Ela, visit www.viman.lk or contact John Keells Properties on +94 706 062 062.
Union Bank recently organised an Exporters’ Forum for its valued customers across Zone 3, with participants from the Matara, Galle, Ratnapura, Badulla, and Ambalangoda branches. The forum provided customers with insights into international trade, finance, foreign exchange, exchange risk management and BizDirect cash management.
This ongoing initiative is Union Bank’s continued commitment to supporting and empowering its customers with the knowledge and skills required to navigate the complexities of global markets and develop effective strategies for successful international trade.
Union Bank announced its financial performance for the 9 months ending 30th September 2024, showcasing both resilience and growth in key areas, even as the bank navigates a challenging market environment.
Despite facing fluctuations in market interest rates and narrowed margins, Union Bank achieved significant milestones during the period under review. The bank demonstrated an impressive 22% increase in loans and advances to customers, reaching LKR 75,744 million. Additionally, deposits grew by a solid 9%, amounting to LKR 96,328 million, highlighting the bank’s commitment to expanding its customer base.
Total assets also increased by 2%, reaching LKR 142,474 million, reflecting the bank’s robust financial standing. The Total Capital Adequacy Ratio remains strong, well above regulatory requirements, underscoring Union Bank’s stability and financial health.
While the bank’s gross income reported a decrease of 29%, totalling LKR 12,324 million, and net interest income fell by 26% to LKR 3, 573 million, these challenges prompted the bank to focus on operational efficiency. Total operating expenses were increased only by 5 %, amounting to LKR 4,032 million, showcasing the bank’s effective cost management strategies.
Profit before tax for the 9 months was recorded at LKR 358 million, while profit after tax stood at LKR 117 million. The group performance mirrored this trend, with profit before tax at LKR 407 million and profit after tax at LKR 111 million.
Union Bank implemented several strategic initiatives aimed at driving growth and enhancing customer engagement. The bank relaunched its leasing and pawning business, supported by aggressive marketing campaigns across its extensive island-wide branch network. This initiative is designed to attract new customers and provide existing clients with more diverse financial solutions. Additionally, Union Bank signed a Memorandum of Understanding (MoU) with John Keells CG Auto to introduce the new BYD range of electric vehicles, emphasizing the bank’s commitment to sustainable transportation options. Furthermore, the bank achieved significant milestones in information security, becoming the first and only local bank to receive both the PCSIDSS Ver 4.0 and ISO 27001 certifications. This accomplishment underscores Union Bank’s dedication to protecting customer data and enhancing operational integrity. The Bank partnered with the USAID supported Climate Adaptation Project in Sri Lanka to mobilize finance for climate adaptation solutions in the agriculture and tourism sectors. The Bank also signed a Memorandum of Understanding with the University of Moratuwa to collaborate on the National Entrepreneurship Programme, marking a significant milestone for the Union Bank School of Social Entrepreneurship (UBSSE).
Union Bank recently organized an Exporters’ Forum for its valued customers across Zone 2, including participants from branches in Kandy, Kurunegala, Anuradhapura, Dambulla, Narammala, Gampola, Kegalle, and Nawalapitiya. The forum provided a platform for insightful discussions on critical topics such as international trade, finance, foreign exchange, and exchange risk management.
This initiative is part of Union Bank’s continued commitment to empowering its customers with the knowledge and tools needed to navigate the complexities of global markets and develop effective strategies for successful international trade.
Union Bank was recently recognised with the ISO 27001:2022 certification from the International Organisation for Standardization (ISO) for its commitment to maintaining information security. This certification highlights the Bank’s dedication to upholding international standards and protecting the information of its customers, stakeholders, and the Bank.
The Enhanced Information Security supports the organization to ensure that sensitive information is safeguarded from unauthorized accesses, breaches and other security attacks through the Information Security Management System (ISMS)
The ISO 27001:2022 certification demonstrates compliance with various legal and regulatory requirements that ensures customers and stakeholders of the Bank that information is highly secured and giving the confidence of one’s data protection.
Nisala Kodippili, Chief Information Officer of Union Bank commented the certification recognition, “Union Bank is proud to have been recognised with the ISO 27001:2022 Certification, a testament to the Bank’s unwavering commitment to maintaining the highest standards of information security. This prestigious certification, awarded by the renowned International Organization for Standardization (ISO), reinforces our dedication to safeguarding the sensitive data of our customers and the Bank. Additionally, being the first local bank to achieve the Payment Card Industry Data Security Standard (PCI DSS) v4.0 Certification this year, further highlights our leadership in adopting cutting-edge security measures. We are proud to be the first local bank to receive both these distinguished certifications”.
Picture Caption: Nisala Kodippili, Chief Information Officer of Union Bank, accepting the ISO 27001:2022 Certification from Amit Shivaji Patil, General Manager of Quality Austria Central Asia Pvt. Ltd.
Exchanging the MOU with Union Bank Chief People and Transformation Officer Jayantha Amarasinghe, Chief Business Officer Asanka Ranhotty and USAID Climate Adaptation Project Deputy Chief of Party Shanka Dharmapala
As Sri Lanka emerges from the economic crisis with a focus on national production and export-oriented value chains, businesses are increasingly aware of the opportunities and risks that climate change poses to their operations, market competitiveness, and stakeholder wellbeing. Union Bank, as a fully-fledged commercial bank that is committed to advancing Sri Lanka’s sustainable development, recently entered into a partnership with the United States Agency for International Development (USAID)-supported Climate Adaptation Project in Sri Lanka. This partnership will enhance the bank’s internal capacity to provide financial and non-financial solutions related to climate adaptation for its clients. The bank aims to build its capability to provide climate change advice, especially on climate finance solutions for the agriculture sector relating to food security and the tourism sector, with the technical support provided by the USAID Climate Adaptation Project.
Union Bank recently signed a Memorandum of Understanding (MOU) with John Keells CG Auto, the authorized distributor of BYD vehicles in Sri Lanka. This strategic partnership marks a significant step towards promoting sustainable transportation. BYD buyers can now get flexible financing through Union Bank Leasing including low monthly rentals, repayment up to 7 years and several value added benefits. BYD is the world’s largest electric vehicle manufacturer, renowned for its cutting-edge technology and green innovations. This partnership aligns with the shared vision of both entities to support a greener future.
In Picture Caption:
Chaya Jayawardane, Senior Vice President of Retail Banking (Union Bank) exchanging the signed MOU with Charitha Subasinghe, Retail Sector President of John Keells Group, in the presence of representatives from Union Bank and John Keells CG Auto.
Union Bank recently signed a MOU with Micro Cars Limited to provide customers with convenient leasing facilities, coupled with added benefits. The MOU was signed in the presence of Chaya Jayawardane, Senior Vice President of Retail Banking, Kasun Balasooriya, Head of Leasing, and Dilukshan Jayakody, Branch Manager Borella along with other representatives from Union Bank, joined by Ravika Perera, Director, Prashan Perera, General Manager and Jacob Nishanthan, Head of Sales and Marketing and representatives of Micro Cars Limited.
Union Bank in collaboration with the U.S. Agency for International Development (USAID) CATALYZE Sri Lanka Private Sector Development (PSD) Activity and the Ceylon Chamber of Commerce conducted a two-day training programme under the theme “Unlock Your Global Potential” to empower customers on strategies for global growth.
The sessions included enhancing the business acumen of SMEs and covered several areas under 3 key pillars, namely Export Audit, Market Analysis and Go-to Market Strategy.
A panel discussion was held with the participation of Delrene Seneviratne Deputy Team Lead USAID CATALYZE PSD, Asanka Ranhotty, Senior Vice President, SME & Transaction Banking and Nalin Ahangama, Assistant Vice President, Trade Operations of UB, and joined by experts from various industries.
About USAID CATALYZE PSD:
Through the USAID CATALYZE Sri Lanka Private Sector Development (PSD) Activity, USAID Sri Lanka enhances private capital infusion into crucial sectors of the Sri Lankan economy, with a particular focus on bolstering the agribusiness sector to catalyze innovation, economic growth, and workforce development in this rapidly evolving industry.
For more information: https://www.usaid.gov/catalyze/privatesectordevelopment
Union Bank recently relaunched its leasing facilities with competitively low monthly rentals and 24 hours approval providing customers the flexibility for vehicle financing requirements, by offering customised leasing solutions. The monthly leasing rental offered by Union Bank currently is one of the best in the market, and is as low as just Rs 1, 689 for every Rs 100,000 financed.
Customers can now look forward to fast and personalised service to obtain leasing facilities for a wide spectrum of vehicles, including unregistered, registered, brand new, reconditioned, electric, and hybrid vehicles. Re-payment plans are flexible up to 7 years, with the option to finance up to 90% of the vehicle value, enabling customers to reach their vehicle aspirations with flexibility. Additionally, a pre-approved credit card is also part of the leasing solution providing customers the ease of 0% installment plans for insurance payments, along with special premiums for vehicle insurance.
Union Bank leasing solutions are made affordable and customised to meet the diverse customer needs and the Bank also offers corporates, SMEs and mid-market businesses with pre-approved leasing limits coupled with quick one day approval process allowing the businesses for seamless financing process when enhancing or upgrading their vehicle fleets.
Enhancing its product offering with the addition of leasing highlights Union Bank’s commitment to transformation through innovative products and enhanced customer experience.
In Picture
Union Bank Kohuwala Branch giving its first rapid vehicle leasing facility
Union Bank recently joined hands with Prime Group to offer new homeowners the opportunity for flexible funding solutions through Union Bank Home Loans. A Memorandum of Understanding (MOU) was signed between the two entities in the presence of Chaya Jayawardane, Senior Vice President Retail Banking (Union Bank) and Nalinda Heenatigala, Executive Director / Director Corporate Affairs (Prime Group) and representatives of Union Bank and Prime Group.
