Union Bank Of Colombo (Sinhala ：යුනියන් බැංකුව， Romanization: Yuniyan Bækuva; Tamil ：யூனியன் பாங்க் ஒவ் கொழும்பு பிஎல்சி， Romanization: Yıiya Pāık Ov Koumpu Pi'elci), Commonly Known As UBC, Is A Commercial Bank In Sri Lanka. It Is Licensed By The Central Bank Of Sri Lanka, The Central Bank And The National Banking Supervisory Authority.
Overview
Union Bank Of Colombo Is One Of The Top Five Banks In Sri Lanka By Market Capitalization And One Of The Fastest Growing Financial Services Groups In The Country. As Of October 31, 2017, The Bank Operated 66 Branches And 121 Automated Teller Machines (ATMs) In The Island Nation. The Bank Offers A Range Of Products And Services To The Retail, SME And Corporate Sectors.
History
Established In 1995, UBC Is The Eighth Homegrown Commercial Bank. Its Founding Shareholders Are DFCC Bank, Great Eastern Life Insurance Limited. The Bank's Shares Were Listed On The Colombo Stock Exchange In March 2016, Following An IPO That Was 350% Oversubscribed. The IPO Is Designed To Enable The Bank To Comply With The Central Bank's Capital Adequacy Norms.
In 2014, TPG Group, A US Private Investment Firm With More Than $70 Billion In Assets, Acquired 70% Of UBC's Outstanding Share Capital Through Its Subsidiary Financial Culture Holdings. The Transaction, Valued At US $117 Million, Was One Of The Largest Foreign Direct Investments In Sri Lanka's Financial Sector At The Time.
Subsidiaries
In Addition To Banking, UBC Also Provides Additional Financial Services Through Its Two Subsidiaries
- National Asset Management Limited (51%), An Asset Management Company In Sri Lanka That Provides Unit Trusts And Private Portfolios To Institutional Investors And Individual Clients.
- UB Finance Company Limited (66.17% Shareholding), A Finance Company That Provides Financial Services Such As Taking Deposits, Maintaining Savings Accounts, Lease Financing, Installment Payments, Vehicle Loans, Mortgages, Pawns, Factoring, Working Funds Financing And Real Estate.
Ownership
Shares Of Union Bank Of Colombo Are Listed On The Colombo Stock Exchange Under The Ticker Symbol "UBC". As Of December 2015, The Largest Shareholder Of The Bank's Shares Is Governance
UBC Consists Of 12 People, With Atul Malik As Chairperson And Indrajit Wickramasinghe As CEO
Colombo United Bank Is A Sri Lanka-based Financial Institution Group Established In 1995. The Main Objective Of The Bank Is To Provide Comprehensive Banking Services To Both Individual And Corporate Clients. Here Are Some Details About Colombo United Bank:
1. Banking Services
Union Bank Colombo Offers A Wide Range Of Banking Services, Including:
- Personal Banking Services: Including Savings Accounts, Time Deposits, Personal Loans, Credit Cards, Etc.
- Corporate Banking Services: Provides Loans, Lines Of Credit, Business Accounts, And Other Services To Small And Medium-sized Businesses.
- International Banking Services: Provides Foreign Exchange Services And International Trade Financing To Assist Customers With Cross-border Transactions.
2. Market Positioning
Union Bank Colombo Is Committed To Providing Flexible And Personalized Banking Solutions In The Sri Lankan Market, With A Particular Focus On The Needs Of SMEs And Individual Customers. The Bank Attracts Customers By Offering Efficient Services And Competitive Interest Rates.
3. Social Responsibility
Union Bank Colombo Is Actively Involved In Community Development Projects And Supports Activities In Areas Such As Education, Health And Environmental Protection To Promote Sustainable Development Of Society.
4. Technology And Innovation
With The Development Of Fintech, Union Bank Colombo Is Also Constantly Upgrading Its Digital Banking Services. The Bank Offers Online Banking And Mobile Banking Services To Enable Customers To Conveniently Conduct Transactions And Manage Accounts.
5. Regulatory And Compliance
As A Regulated Financial Institution Group, Union Bank Colombo Follows The Regulations Of The Central Bank Of Sri Lanka To Ensure The Transparency And Compliance Of Its Operations.
For The Latest Information And Detailed Service Content Of Union Bank Colombo, It Is Recommended To Visit Its Official Website Or Contact The Client Server Department Of The Bank Directly.
