UB Finance BB rating reaffirmed by ICRA Lanka

Monday, 11 May 2020 00:00 - - {{hitsCtrl.values.hits}}

ICRA Lanka Ltd., a group company of Moody’s Investment Service reaffirmed the UB Finance Co. Ltd. issuer rating of SL (BB) with a negative outlook.

The company is looking at a significant capital infusion by a multinational investor and is confident in further strengthening its position going forward.

Over the past eight years, UB Finance has acquired a strong lending and deposit client base and has a reputation for strength and stability within the financial services sector. The company has also built strong connections with local communities and other stakeholders through a well distributed network across the country.

As a Union Bank Company, UB Finance leverages on the expertise of Group resources for guidance in business operations, treasury management, risk management and good governance and offers its customers the unique business proposition of “the versatility of a finance company backed by the strength of a bank”.