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Union Bank posts strong income growth in 1Q2023

The first quarter of 2023 witnessed continued positive sentiments in Sri Lanka’s economic activity with the IMF approved Extended Fund Facility (EFF). Significant exchange rate appreciation, moderating inflation, a notable drop in T-bills rates and selective easing of import restrictions resulted in the Banking sector to re-align its business focus. At a time when the […] ....

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Union Bank posts strong income growth in 1Q2023 - Adaderana Biz English

The first quarter of 2023 witnessed continued positive sentiments in Sri Lanka’s economic activity with the IMF approved Extended Fund Facility (EFF). Significant exchange rate appreciation, moderating inflation, a notable drop in T-bills rates and selective easing of import restrictions resulted in the Banking sector to re-align its business focus. At a time when the. ....

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Union Bank records strong revenue growth in FY2022 despite challenges

Union Bank continued to be resilient throughout 2022 leveraging on its strong capital position and remained agile, posting an increased overall income leading to an improved core-banking performance during the year. The Bank’s gross income for the year increased significantly by 73% to LKR 18,966 MN as a result of the Bank cautiously managing its […] ....

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Union Bank sustains resilience in 1Q2022 amid macro environmental challenges - Adaderana Biz English

The first quarter of 2022 witnessed the gradual recovery of economic activity resultant from the setbacks of the COVID-19 3rd wave. However, during 1Q 2022, continued political uncertainty that prevailed, largely impacted normalcy, with public and businesses facing heightened challenges brought-forth by gas and fuel shortages, rapidly rising inflation, FX reserves depletion, depreciation of the. ....

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Union Bank records steady growth with favourable 1Q results - Adaderana Biz English

Union Bank records steady growth with favourable 1Q results
April, 30, 2021
Core Banking Growth and Profitability
Union Bank ended the first three months of 2021 with a strong performance, reflecting a steady growth momentum and fueling favourable expectations.
Union Bank’s core banking performance was propelled by focused efforts on strategically significant product and service propositions. Despite challenges that continued to prevail during the review period, the Bank’s re-strategised product and service prioritisation and swift action to capitalise on the positive sentiments in the macro-economic dynamics since the roll-out of the vaccination campaign, paved the way for this growth in the first quarter of 2021. ....

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