Banks & Finance · Major Banks
| Year | Revenue | Net profit | EPS |
|---|---|---|---|
| 2025 | Rs 9.8B | Rs 659.0M | 0.60 |
| 2024 | Rs 7.9B | Rs 299.7M | 0.27 |
| 2023 | Rs 9.2B | Rs 463.9M | 0.42 |
| 2022 | Rs 8.8B | Rs 422.9M | 0.40 |
| 2021 | Rs 7.0B | Rs 850.2M | 0.77 |
| 2020 | Rs 6.7B | Rs 622.8M | 0.58 |
| 2019 | Rs 6.9B | Rs 804.2M | 0.70 |
Union Bank of Colombo PLC is a licensed private commercial bank listed on the Colombo Stock Exchange that provides banking and financial services across Sri Lanka to individual, SME and corporate customers. The Bank delivers retail deposit, lending and transactional services alongside SME and corporate banking solutions supported by digital platforms and branch-based channels. The Bank operates a network of branches supported by a 24-hour call centre, digital banking platforms and an ATM/CRM network, and its group includes subsidiaries National Asset Management Limited and UB Finance PLC. Major investors referenced in the report include TPG and an affiliate of CG Corp Global through Culture Financial Holdings. Union Bank pursues a digital-first strategy with a focus on expanding the Retail and SME businesses, growing fee-based revenue (including trade-related income), strengthening digital channels and maintaining disciplined risk and funding management to support balance sheet growth.
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Generate an analysis →Higher than 91% of its last 11 months · 5 of 19 in its sector
4 articles in 30 days: 3 positive, 0 negative, 1 neutral.
Union Bank of Colombo (UBC.N0000) reported 1H 2026 PBT of Rs. 881 million, up 84% y/y, and PAT of Rs. 587 million, up 134%; gross income rose 19% to Rs. 10,139m and total assets grew 15% to Rs. 199,283m.
Union Bank of Colombo reported PBT of LKR 881 Mn in 1H 2026 (up 84% YoY) and PAT of LKR 587 Mn (up 134% YoY). Group PBT was LKR 997 Mn, total assets rose 15% to LKR 199,283 Mn, and income included LKR 249 Mn from sale of shares in subsidiary UB Finance.
Union Bank appointed its CEO Dilshan Rodrigo to the board of LankaPay, Sri Lanka's National Payment Network. He will contribute to strengthening the national payments infrastructure and advancing secure, efficient digital payment solutions.
Union Bank CEO Dilshan Rodrigo said SMEs are understating revenues and profits—banks often reconstruct financials and find turnover about 40% higher—hindering cash-flow lending. He urged stronger audit standards, independent SME credit ratings and deeper capital markets for long-term SME finance.
National Development Bank PLC suffered an internal Rs. 13.2 billion fraud that went undetected, prompting a parliamentary probe that blamed Central Bank oversight failures and drew IMF demands for regulatory and AML/CFT reforms. The Central Bank has retained Deloitte India for a forensic audit with an interim report due in two weeks and a final report by July 18.
National Development Bank is facing allegations of a Rs. 13.2 billion fraud, prompting scrutiny of its audits, governance and supervisory oversight. A shareholder has filed derivative proceedings and commentators are calling for action from auditing and oversight bodies.
Opposition MP Faiszer Musthapha urged urgent action on widening financial security risks after a $2.5m Treasury phishing scam and a Rs.13.2bn theft linked to National Development Bank. He called for stronger cybersecurity, accountability and stricter bank supervision to protect investor confidence.
Union Bank of Colombo (UBC.N0000) reported 1Q 2026 PBT of Rs. 465m (up 260%) and PAT of Rs. 334m (up 570%). Gross income rose 24% to Rs. 4.9bn with NII of Rs. 1,649m; sale of UB Finance shares added Rs. 213m and a Rs. 3bn debenture strengthened Tier II capital.
Regulatory tightening dominated banks/finance as Cabinet named the SEC to regulate virtual asset service providers within a CBSL/FIU/IRD framework and approved a 2026-2030 national AML policy. The FIU flagged long-running trade-based money laundering via phantom imports, after probes found about $715m in fraudulent remittances. CBSL kept LTV caps on vehicle and gold loans. Services PMI signaled June expansion led by financial services.
Auto-generated from 17 sector news articles over 30 days. Not investment advice. 2 more stories on the sentiment page.