Union Bank (UBC) says its focus on the small and medium enterprises (SME) sector has given the bank "a well-defined competitive edge in an industry that has a landscape of 26 commercial banks".
These comments were made by UBC Chairman Alex Lovell when the bank announced an interim dividend of 15 cents per share last week.
In a media statement, Mr Lovell said UBC has continuously recorded growth in profitability with its pre-tax profit in the first quarter of 2012 rising by 28% from the previous 2011 quarter.
Mr. Lovell said that "going forward, adding the necessary stimulus to our SME focus, UBC will continue to evolve as a fully technology driven bank. The bank's focus on an IT driven channel strategy will further support its reach expansion across Sri Lanka".
UBC has diversified business interests including unit trusts with the acquisition of the National Asset Management Ltd and The Finance and Guarantee Company Ltd. |
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