Union Bank of Colombo PLC
CCSELK:UBC.N000010.70
LKR
+0.30
(+2.88%)
Union Bank of Colombo PLC
CSELK:UBC.N0000
(Colombo Stock Exchange)
Recent
price
10.70
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div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Union Bank of Colombo PLC is a Sri Lanka-based commercial banking institution engaged in providing a comprehensive range of personal, commercial, corporate, and financial market solutions to individual, small business, and corporate clients. The bank operates through four primary business segments: Retail Banking, Corporate Banking, SME Banking, and Treasury Operations. Its Retail Banking segment provides personal financial products and services, including savings accounts, current accounts, term and fixed deposits, children's and senior citizen savings schemes, foreign currency deposit accounts, personal loans, home loans, vehicle financing, gold loan and pawning services, credit and debit cards, and domestic and international remittance facilities. Its Corporate Banking segment delivers corporate lending, term financing, working capital loans, project and structured financing, syndicated loans, offshore banking services, resident and non-resident foreign currency accounts, and specialized trade finance solutions, including letters of credit, documentary collections, and shipping guarantees, as well as electronic cash management and transactional banking via the Union Bank BizDirect platform. The SME Banking segment offers customized credit facilities, equipment loans, distributor financing, and business advisory services targeted at small and medium-sized enterprises. The Treasury Operations segment engages in foreign exchange trading, liquidity management, money market transactions, margin trading, and dealing in government securities, including Treasury bills and Treasury bonds. In addition, the bank delivers digital banking capabilities through internet banking portals, mobile banking applications, automated teller machines, and cash deposit and transaction kiosks. The company extends its financial services portfolio through its key subsidiaries, including UB Finance PLC, which provides finance leasing, hire purchase, and real estate finance, and National Asset Management Limited, which manages unit trusts and private investment portfolios. Founded in 1995, Union Bank of Colombo PLC is headquartered in Colombo, Sri Lanka, and conducts its business operations through an extensive island-wide branch network. In major recent developments, CG Capital Partners Global Pte. Ltd., an affiliate of the multinational conglomerate CG Corp Global, completed the acquisition of a 70.84% controlling majority stake in Union Bank of Colombo PLC via the purchase of Culture Financial Holdings Ltd. Following this ownership transition, the bank launched a comprehensive strategic transformation program aimed at digital-first banking modernization, accelerated retail and SME loan book expansion, and enhanced cross-border trade capabilities. Complementing this strategic shift, the bank unveiled a major corporate rebranding initiative featuring a refreshed brand identity and visual logo, while upgrading its digital transaction banking infrastructure and executive leadership structure to drive nationwide operational growth.