| Union Bank of Colombo PLC | |
| Native Name: | යුනියන් බැංකුව யூனியன் வங்கி |
| Type: | Public |
| Area Served: | Sri Lanka |
| Hq Location City: | Colombo |
| Hq Location Country: | Sri Lanka |
| Revenue: | LKR21.092 billion |
| Revenue Year: | 2022 |
| Operating Income: | LKR8.845 billion |
| Income Year: | 2022 |
| Net Income: | LKR422 million |
| Net Income Year: | 2022 |
| Assets: | LKR136.679 billion |
| Assets Year: | 2022 |
| Equity: | LKR19.016 billion |
| Equity Year: | 2022 |
| Parent: | Culture Financial Holdings Ltd |
| Num Employees: | 1,164 |
| Num Employees Year: | 2022 |
| Footnotes: | [1] |
Union Bank of Colombo PLC (Sinhala; Sinhalese: යුනියන් බැංකුව|Yuniyan bæṁkuva; Tamil: யூனியன் பாங்க் ஒவ் கொழும்பு பிஎல்சி|Yūṉiyaṉ pāṅk ov koḻumpu pi'elci), commonly referred to as UBC, is a commercial bank in Sri Lanka. It is licensed by the Central Bank of Sri Lanka, the central bank and national banking regulator.[2] [3]
Union Bank of Colombo PLC is one of the top five banks in Sri Lanka in market capitalization as well as one of the country's fastest growing Financial Services Groups.[4], the bank operated 66 branches and 121 automatic teller machines (ATM) across the island nation. The bank offers a range of products and services to Retail, SME and Corporate segments.
UBC was established in 1995 as the eighth indigenous commercial bank with DFCC Bank, The Great Eastern Life Assurance Company Limited as its founding shareholders.[5] The bank's shares were listed on the Colombo Stock Exchange in March 2016 after an initial public offering that was oversubscribed by 350 percent.[6] The IPO was to enable the Bank to comply with the Central Bank Capital Adequacy norms.
In 2014 TPG Group, a USA based private investment firm with over of assets, acquired 70 percent of the issued share capital of UBC through its subsidiary, Culture Financial Holdings. The deal was valued at, and was at the time one of the largest foreign direct investments in Sri Lanka's financial sector.[7] [8]
Other than its banking business, Union Bank of Colombo provides additional financial services through its two subsidiaries:[9] [10]
The stock of Union Bank of Colombo PLC is listed on the Colombo Stock Exchange under the ticker symbol "UBC"., the largest shareholders in the bank's stock were:[11]
| 1 | Culture Financial Holdings | 70.00 | |
| 2 | Vista Knowledge Pte Limited | 5.93 | |
| 3 | Others | 24.07 | |
| Total | 100.00 |
As of 16 August 2024, a nine-member board of directors governs the UBC, chaired by Nirvana Chaudhary and with Dilshan Rodrigo as Chief executive officer.[12]