Union Bank to maintain unrelenting focus on developing SMEs

Wednesday, 29 January 2014 00:02 - - {{hitsCtrl.values.hits}}

This year will see Union Bank of Colombo Plc (UBC) continue its rapid expansion across Sri Lanka and follow a wayward trajectory towards further strengthening its SME focus as the bank of choice of the sector, stated UBC Chief Manager – Marketing Thishani Dissanayake. Last year was one of much significance for the bank with its network reaching a milestone 50 branches in a short period of time. Its efforts to develop the knowledge and business acumen of Small and Medium Entrepreneurs highlighted continued success with the bank’s ‘Viyaparika Saviya’ free advisory workshops receiving an overwhelming response and participation from the sector. The bank added value to its product portfolio with the launch of new products including Sri Lanka’s first trilingual banking app on Android and Apple platforms bring banking convenience even closer.

“This year we will see our consolidation efforts on operations, systems and processes paving the way for greater opportunities to develop and strengthen the SMEs and thereby build an even stronger entrepreneur culture. We will continue to build our corporate image as the bank of choice for SMEs by leveraging stability, trust and our expertise of 18 years. We will also seek more innovative avenues to grow our business portfolio, while maintaining an unrelenting focus on aligning our SME vision to that of the country’s SME vision, making this segment a strong and robust economic contributor, designed to pioneer, innovate, develop and drive industries, while empowering communities in a sustainable manner,” Dissanayake asserted. Enhanced reach is an integral part of the bank’s way forward, with approximately 25 new branches expected to open during the year. During the first quarter new branches will open in Nawalapitiya, Pilimatalawa, Ibbagmuwa and several other locations. Meanwhile, the commissioning of a new core banking system will place Union Bank at the helm of technology development in the banking industry. Supported by a customised product portfolio and unparalleled service the bank is well geared to support the growth of SMEs.