Union Bank Finance announces Rs.1.6 billion rights issue

17 October 2020 02:08 am - 0 - {{hitsCtrl.values.hits}}

A A A

UB Finance Co. Ltd. a subsidiary of Union Bank of Colombo PLC is committing to a rights issue amounting to Rs.1.6 billion to strengthen its balance sheet and meet the capital guidelines of the Central Bank of Sri Lanka (CBSL) by 31st December 2020 as approved by the CBSL.

The company has recorded significant growth since its acquisition by Union Bank of Colombo PLC in 2011 and has established itself as a premier financial services provider in the island.

Despite the challenges faced by the financial services sector due to the COVID-19 pandemic, the management is optimistic about the future of Sri Lanka as a commercial, financial and transshipment hub and is geared with innovative products and technological platforms to leverage on and support this economic growth.

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Comments - 0

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Union Bank Finance announces Rs.1.6 billion rights issue

Comments - 0

Add comment

RECOMMENDED

‘Spike in blast fishing’ poses renewed threats to Sri Lanka’s marine ecosystems

UDA owned land in Thalawathugoda; UDA Minister Prasanna Ranatunga under the spotlight for forceful occupation of reserved land

Loss-making SMIB faces political pressure in recovering loans

Baltimore Bridge Collapse: MV Dali, SL authorities anchored in mystery?

Has Sri Lanka become a potential hub for the illegal wildlife trade?

Spotlight on Moragahakanda Development Project Moragolla villagers lose livelihoods and down to one meal a day

Ambitious Sri Lankan jobseekers ‘trafficked into Ukraine war zones’

Most Viewed in News

Racing event tragedy leaves seven dead including eight-year-old child

Complaint lodged over Piumi Hansamali's possession of Gota’s Range Rover

New Visa procedure implemented

Ranil Wickremesinghe caravan moves on despite barking dogs

Street food vendor arrested for verbally harassing foreigner

Uma Oya Development Project inaugurated

MIRROR CRICKET

Is Chamari Athapaththu Sri Lanka’s greatest cricketer ever?

Athapaththu back atop ICC Women’s ODI Batting Rankings

Chamari Athapaththu sets big goal for T20 World Cup

How does CSK get best out of Pathirana?

TODAY'S HEADLINES

No footboard riding allowed, no liability for accidents: Railways Department

Six patients claim Rs.600 million from Keheliya and others for permanent loss of sight

SLPP, UNP initiates action for forming broad alliance

Here is the way!

Pakistan lose key players for last two T20Is against New Zealand

Sri Lanka secures third spot in South Asian Kurash Championship 2024

Athapaththu back atop ICC Women’s ODI Batting Rankings

Army forms committee to probe Diyatalawa Fox Hill Supercross accident