Union Bank doubles bottom line in FY2025

Union Bank has announced a milestone financial performance for the FY2025, emerging as one of the fastest-growing banks in the country.

This is complemented by a standout bottom-line performance with the group’s Profit Before Tax reaching Rs. 2.2 billion and doubling its Profit After Tax to Rs. 660 million (from 2024), highlighting the success of its strategic transformation plans, the bank said in a media release.

The bank’s Gross Income rose to Rs. 18.2 billion supported by a strengthened Net Interest Income (NII) of Rs. 5,638 million and a substantial Net Fee and Commission Income of Rs. 1,545 million, reflecting a diversified and resilient revenue base.

The Net loan portfolio climbed by 36 per cent to Rs. 110.8 billion, maintaining the aggressive momentum seen in the previous year where the bank significantly outpaced industry averages.

This expansion was complemented by a robust growth in the deposit base, which reached Rs. 118.8 billion, a 15 per cent increase, signaling strong public confidence. 

Total Assets of the group grew from Rs. 155.6 billion to Rs. 184.8 billion, a 19 per cent growth. The Union Bank Group consists of UB Finance Plc and National Asset Management Ltd.

Dinesh Weerakkody, Chairman of Union Bank, stated that the bank’s 2025 performance reflects the strategic and structural transformation following the entry of its new investor. He noted that stronger governance, an improved financial position, and a sharper focus on core banking segments have positioned the bank to deliver sustainable and resilient long-term value.

Dilshan Rodrigo, Director/CEO of Union Bank, noted that the bank has firmly established itself as a top-tier contender by staying close to its customers and embracing a digital-first philosophy. “The growth of our loan book is a direct reflection of our commitment to transforming lives through innovation, service excellence, and expanded digital accessibility. By championing the SME sector as a catalyst for economic growth, we continue to drive a forward-looking vision that empowers our communities,” he added.