Union Bank continues to empower local exporters

Vice President, Wholesale Banking at Union Bank, Hiranthi  De Silva handing over the sponsorship cheque to Sarada De Silva, Chairman of National Chamber of Exporters.   (Also in the picture are;   Ramal Jasinghe - Vice President of NCE,. Suneethaamanayake -  Senior Manager Operations at NCE and Shihamarikkar - Secretary General/CEO of the NCE)

Union Bank recently announced its partnership as the Premium sponsor of the Annual Export Awards organized by the National Chamber of Exporters of Sri Lanka for the 24th consecutive year. 
Under the premium category, Union Bank will sponsor the awards for ‘Best Performer in Emerging Markets, Best SME Exporter, Best Value Added Exporter – Services and Best Value Added Exporter – Products’. 
Commenting on the event partnership, Vice President, Wholesale Banking at Union Bank Mrs. Hiranthi De Silva said, “We are pleased to partner NCE Export Awards which recongnise local exporters who have achieved greater heights and encourage them to continuously reach for global standards of business excellence. For over two decades, Union Bank has extended its unwavering support towards empowering Sri Lankan entrepreneurs, especially inspiring the small and medium scale entrepreneurs to improve their export potential.  Today, as a fully-fledged, licensed Commercial Bank etched with financial stability and the international know-how of  the global investment giant TPG;  Union Bank has enhanced its product and service offerings across Corporate, SME and Retail Banking segments to help them reach their financial and business aspirations.”  Union Bank’s enhanced portfolio, fortified with diverse product propositions that span across Corporate Banking, Trade and Treasury services, and investment products; has enabled the Bank to generate customised financial solutions for exporters in the form of debt, equity and working capital. The bank provides specialised financial services that are designed to meet the dynamic needs of the exports industry. Union Bank’s Corporate Banking and Trade Financing divisions are geared to provide expert financial advice coupled with diverse trade finance tools that include pre-export loan facilities and export bill discounting facilities to help meet the funding needs at the post shipment stage. Advising of Letters of Credit (LCs), processing collection bills and issuing shipping guarantees are amongst the many specialised services extended by Union Bank to the local exporters. The Bank also grants foreign currency loans to exporters at competitive rates and funds the working capital cycles of the exporters through customised loans.
“The Export Sector continues to face the effects of the global market volatilities. This calls for aggressive action in seizing immediate opportunities of the international markets to stay ahead of competition. We are appreciative of this initiative of the NCE, which encourages entrepreneurs to continuously improve the performance of their companies. In order to remain competitive in the current context, local exporters need to develop their standards in terms of quality of products, value addition and efficiency of delivery as well as ease of transaction. Initiatives such as NCE’s annual recognition awards for the export industry are imperative to continuously improve the standards of this sector. As a bank that is committed to partnering the growth of the national economy; Union Bank will remain steadfast in its attempts to uplift the exports industry while supporting the growth of Retail and SME segments through a diversified portfolio of products and services,”  De Silva reiterated.