Union Bank hosts Investor Forum for 1H 2018

Monday, 30 July 2018 00:00 - - {{hitsCtrl.values.hits}}

From left: Union Bank Chairman Atul Malik, Union Bank Director/CEO Indrajit Wickramasinghe, and Union Bank CFO Malinda Samaratunga

Union Bank conducted an Investor Forum on the Bank’s transformational journey and financial performance for the first half of 2018 at the Hilton Colombo recently, with the participation and representation of the investment community of Sri Lanka. Leading stockbrokers, financial analysts, venture capitalists, and investment advisors were among the distinguished addressees at the well-attended event.

The event was preceded by Union Bank Chairman Atul Malik, Union Bank Director Trehan Gaurav, Union Bank Director/Chief Executive Officer Indrajit Wickramasinghe, Union Bank Chief Financial Officer Malinda Samaratunga, and members of the Bank’s leadership team.

CEO Indrajit Wickramasinghe, sharing his views on the performance of the Bank, mentioned that the Bank has embarked on a transformational journey since the landmark investment by TPG Capital in 2014. Wickramasinghe presented the Bank’s successful journey of growth during the past four years, drawing attention to the post-acquisition achievements, which include successful transformation to a fully-fledged commercial bank, sound growth from a well-diversified core banking base, technological value additions, centralised and streamlined operations, as well as a honed human capital base.

Addressing the forum, he cited that strong capitalisation, robust risk management, superior asset quality, and sound corporate governance as the key strengths of the Bank. Wickramasinghe went on to elaborate on the future growth strategy of the Bank, affirming its commitment to continue along the sustainable growth mode that the Bank has now entered into, with a new three-year strategic plan set in motion at the beginning of 2018. He mentioned that focus on consumer and SME banking, profitable growth, channel optimisation, economies of scale, portfolio acquisition, and the growth of ROE and ROA will be the key pillars of focus of the Bank’s strategy for the next three years.

Presenting the financial results of the Bank for the first half of 2018, Wickramasinghe expressed confidence in the Bank being driven towards enhanced performance during the year 2018, reaching key milestones in business volumes and enhancing returns. About Union Bank

With a solid foundation etched with financial stability and international know-how, Union Bank is amongst the highest capitalised private commercial banks in Sri Lanka, offering a full range of products and services to personal and commercial financial sectors.