UB Finance prepares for aggressive growth with Rs. 1.98 b capital infusion by parent

Monday, 14 March 2022 00:00 - - {{hitsCtrl.values.hits}}

UB Finance Co. Ltd., a subsidiary of Union Bank PLC, recently announced an aggressive plan for future growth and expansion.

The company recently strengthened its capitalisation through an infusion of Rs. 1.98 billion through its parent company, making UB Finance Co. Ltd. one of the highest capitalised Licensed Finance Companies (LFCs) in Sri Lanka.

DGM Credit and Operations Himali Perera said: “We are primarily aligning our internal resources to be in sync with our growth ambitions and customer expectations. New customer acquisition, along with other means of engaging public participation will play a key role in our future growth strategy. Through our planned strategic marketing initiatives, next-level customer service and other programs, we are confident that UB Finance will emerge as a stronger force to be reckoned with in the near to medium term.”

“Our new expansion and growth strategy, like everything else we do at UB Finance, is guided by our commitment to delivering a unique economic and social value proposition to all Sri Lankans,” Perera added.

UB Finance Co Ltd is a finance company licensed by the Central Bank of Sri Lanka providing a range of financial products and services to customers, including fixed deposits, savings, leasing, loans, mortgages and gold loans solutions. UB Finance is rated [SL]BB with a Stable Outlook by ICRA.

It offers its customers a unique customer experience, supported by an extensive portfolio of financial products and services, which leverages the versatility of a finance company that is backed by the strength of one, Union Bank PLC.