Strong 2019 performance from Union Bank, just as it marks 25 years

• Published date: 01 March 2020
• Publication title: Sunday Times

Union Bank has demonstrated a healthy performance amidst the challenging macro-economic environment in 2019, recording a significant increase of 50 per cent in profit after all tax, going into its 25th year in 2020.

Amidst sector shocks that prevailed throughout, the bank strived for revenue optimisation through portfolio re-alignment and prudent cost management. During the year, the bank had paid 66 per cent of its profits as taxes which was over Rs.1 billion, it said in a media release.

Despite market...