Union Bank gets new outlook, gearing for a new phase of growth

Monday, 12 January 2015 00:16 - - {{hitsCtrl.values.hits}}

The recent significant investment and backing of global investment giant TPG, now places Union Bank amongst the top five private commercial banks in Sri Lanka in terms of market capitalisation. Rapidly evolving to face a bold new world of opportunities and growth, the bank has made a distinctive change to its brand visibility and unveiled a new outlook to its head office on 1 January.

Designed to communicate a dynamic and vibrant personality, the new design is an integral part of the bank’s brand-building initiatives and its promise a customer centric banking experience. The bank’s established brand identity and logo remains unchanged. Creating greater brand visibility, the new design will be cascaded to its branch and alternate channel networks. The 62nd Union Bank branch will open shortly in Rajagiriya with the new layout, offering a new world of banking experience to customers. Union Bank Director/CEO Indrajit Wickramasinghe said: “As the bank forges ahead towards its new aspirations with a wider focus on Retail, SME and Corporate Banking sectors, the new outlook communicates and projects the image of a progressive bank, with greater commitment to deliver competitive financial solutions and an enhanced customer centric environment. We see this change as pivotal and timely in delivering greater value and banking convenience to our customers. It communicates a new beginning with greater agility for growth and to our employees a vibrant working environment.” Outgrowing its niche SME focus, Union Bank is repositioning as a key player and a fully-fledged commercial bank offering a comprehensive portfolio of products to the retail, SME and corporate sectors. The new outlook is an integral element of many of its planned developments that will transform the bank’s new business focus. The coming months will see the bank rolling out several new initiatives, that will enhance its banking proposition. Union Bank is one of Sri Lanka’s leading banks supported by the strength of TPG, the US-based global private investment firm with $ 66 billion in capital under management and an extensive global network with a significant presence in Asia and Europe. TPG’s recent investment of $ 117 million in Union Bank marked a milestone in the financial services industry as one the largest foreign direct investments to Sri Lanka. With a solid foundation etched with financial stability and international know-how, Union Bank is amongst the top five private commercial banks in market capitalisation in Sri Lanka, offering a full range of products and services to the personal and commercial financial sectors.