Union Bank to raise Rupees three billion via listed debenture issue

Union Bank is pleased to announce that its Board of Directors has resolved to issue up to a maximum  of Thirty Million (30,000,000), Basel III-compliant, listed, rated, unsecured/debenture(s) of Rs. 100 each to raise a maximum of Rupees Three Billion  ( 3,000,000,000) to be offered to investors subject to shareholder and regulatory approvals.

This issuance is expected to strengthen Union Bank’s capital base to support strategic expansion, augment its Tier 2 capital in compliance with regulatory capital adequacy requirements, and to bolster lending capacity, particularly for SME and other priority customer segments. This move aligns with the bank’s ongoing efforts to ensure financial resilience, support sustainable growth, and deliver long‑term value to shareholders and stakeholders.

Dilshan Rodrigo, Director/Chief Executive Officer of Union Bank stated that “our decision to issue this debenture reflects our confidence in the bank’s trajectory and our commitment to sustainable growth. By enhancing our capital structure, we are better positioned to support our customers, expand and seize new opportunities arising in Sri Lanka’s evolving economic landscape. Further it supports strengthening our ability to deliver on our promise of trust, growth and financial inclusion.”