LAUNCH PRESS RELEASE – 12/07/2012
UB FINANCE ENDEAVOURS TO DELIVER A UNIQUE PROPOSITION OF ECONOMIC AND SOCIAL VALUE
UB Finance Co, which was formed with the acquisition of The Finance & Guarantee Co Ltd by Sri Lanka’s premier financial institution, Union Bank of Colombo PLC and its international strategic investment partner, ShoreCap II Ltd. has become the latest entrant to the world of finance in Sri Lanka.
This significant move with a capital infusion of Rs 1.1 billion has established UB Finance as the only finance company to be backed by a commercial bank in the private sector in Sri Lanka highlighting a positive outlook for all stakeholders of the company in delivering a sustainable and mutually benefitting partnership.
UB Finance’s strategic intent is to deliver a unique proposition of economic and social value to all Sri Lankans. Facilitating and nourishing its clients with the long standing Sri Lankan sentiment of being ‘traditional and auspicious’ at every significant step of their journey towards the successful realisation of financial aspirations in life is a key driver of the company. Further, UB Finance has already achieved its distinctive status in the corporate world with its gesture of being uniquely socially responsible in coming forward to the rescue of thousands of customers who were victimised by the collapse of The Finance & Guarantee Co Ltd., under the Ceylinco regime, underpinning its core values of social accountability and economic viability.
The Board of Directors of UB Finance is led by Chairman, Mr. Ajita De Zoysa, an eminent business personality and the immediate Past Chairman of Union Bank of Colombo. Ananda Atukorala – Deputy Chairman. The directorate comprises of a unique and diverse combination of local and international business professionals including Alexis Lovell - the Present Chairman of Union Bank of Colombo, Jit Warnakulasuriya, Daman Panditharatne, Davis Golding, Malinda Samaratunga, Ajith Wijeyesekera, Upali Wijeyesekera and Rohendra Wijeyesekera whose expertise will no doubt transform UB Finance to a flagship brand in the financial services industry in Sri Lanka.
UB Finance Co, licensed by the Central Bank of Sri Lanka will operate on the basis of delivering integrity and empowerment to its customers providing an enhanced range of financial service offerings that include Fixed Deposits, Savings, Real Estate, Leasing, Hire Purchase, Loans and Pawning Solutions.
Backed by the strength of Union Bank of Colombo and the international expertise of ShoreCap II Ltd., UB Finance is now geared to be a key partner in Sri Lanka’s accelerated growth strategy that deliver economic and social value with a difference and be perceived as the finance company who understands the true emotions of Sri Lankans.