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WHOLESALE BANKING | Cesar Tordesillas, India

Union Bank of Colombo announces 15% dividend

Union Bank of Colombo announced an interim dividend of 15 cents per share, further strengthening its premise in delivering stakeholder value.

UBC is the first to announce an interim dividend for 2012. Alex Lovell, Chairman of UBC stated that 2011 concluded on a positive note and 2012 will see the consolidation of these growth factors.

Accordingto Lovell, Union Bank's focus on the SME sector has given it a well defined competitive edge in an industry that has a landscape of 26 commercial banks.

Lovell also stated that “going forward, adding the necessary stimulus to our SME focus, UBC will continue to evolve as fully technology driven Bank. The banks focus on an IT driven channel strategy will further support its reach expansion across Sri Lanka”.

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