The Investor Sentiment - Equity and investments forum for Sri Lankans
Search
 
 

Display results as :
 


Rechercher Advanced Search

Latest topics
» In the Meantime, Within Our Shores !
UBC Union Bank of Colombo EmptyYesterday at 10:27 pm by කිත්සිරි ද සිල්වා

» HNB.N0000 (Hatton National Bank PLC)
UBC Union Bank of Colombo EmptyYesterday at 10:25 pm by gosrilanka

» Island-wide daytime curfews lifted from Tuesday – Presidential Secretariat
UBC Union Bank of Colombo EmptyYesterday at 5:52 pm by Backstage

» Coronavirus Updates
UBC Union Bank of Colombo EmptyYesterday at 9:52 am by The Invisible

» Webinar on economy in Sinhala. Today.
UBC Union Bank of Colombo EmptySat May 23, 2020 4:53 pm by Backstage

» US Recovery? Some Americans Spent Stimulus Money on Toys While 4 Million Skipped Mortgage Payments
UBC Union Bank of Colombo EmptySat May 23, 2020 8:01 am by The Invisible

» නොසන්සිඳෙන ආශාව!
UBC Union Bank of Colombo EmptyFri May 22, 2020 10:29 pm by කිත්සිරි ද සිල්වා

» Dividend Announcements
UBC Union Bank of Colombo EmptyFri May 22, 2020 8:39 pm by spw19721

» ද ෆිනෑන්ස්‘ ව්‍යාපාර කටයුතු අද සිට හමාරයි
UBC Union Bank of Colombo EmptyFri May 22, 2020 5:03 pm by nihal123

» Asia virus latest: cyclone prompts infection fears; Korea football row over sex dolls
UBC Union Bank of Colombo EmptyFri May 22, 2020 7:09 am by The Invisible

» SAMP.N0000 (Sampath Bank PLC)
UBC Union Bank of Colombo EmptyFri May 22, 2020 5:42 am by NIRMALSG

» JKH.N0000
UBC Union Bank of Colombo EmptyThu May 21, 2020 9:08 pm by The Invisible

» Thread for News on International Markets
UBC Union Bank of Colombo EmptyThu May 21, 2020 4:53 pm by The Invisible

» Webinar on Capital market tomorrow 6pm
UBC Union Bank of Colombo EmptyThu May 21, 2020 12:49 pm by කිත්සිරි ද සිල්වා

» New polls show trouble for Trump and Republicans in GOP strongholds
UBC Union Bank of Colombo EmptyWed May 20, 2020 10:29 pm by කිත්සිරි ද සිල්වා

» මහ මැතිවරණය ජුනි 20
UBC Union Bank of Colombo EmptyWed May 20, 2020 9:16 pm by The Invisible

» NTB.N0000 (Nations Trust Bank PLC)
UBC Union Bank of Colombo EmptyWed May 20, 2020 5:09 pm by The Invisible

» Ceylon Chamber proposes multi-sectoral approach for economic revival
UBC Union Bank of Colombo EmptyWed May 20, 2020 4:22 pm by LSE

» Access Engineering AEL Technical Analysis
UBC Union Bank of Colombo EmptyWed May 20, 2020 9:18 am by The Invisible

» ACL Cables
UBC Union Bank of Colombo EmptyWed May 20, 2020 5:07 am by NIRMALSG

» INDUSTRIAL ASPHALTS (CEYLON) PLC (ASPH.N0000)
UBC Union Bank of Colombo EmptyWed May 20, 2020 12:48 am by nihal123

» කොටස් වෙළෙඳපොළ අඛණ්ඩව 5 වන දිනයටත් ඉහළට. සියලු කොටස් ඒකක 94 කින් නගී
UBC Union Bank of Colombo EmptyTue May 19, 2020 5:37 pm by The Invisible

» විදෙස් ආයෝජන
UBC Union Bank of Colombo EmptyTue May 19, 2020 5:34 pm by nihal123

» RCL - Royal Ceramics
UBC Union Bank of Colombo EmptyMon May 18, 2020 10:16 pm by The Invisible

» LDEV - Lankem Developments
UBC Union Bank of Colombo EmptyMon May 18, 2020 10:09 pm by The Invisible

» Hayleys MGT
UBC Union Bank of Colombo EmptyMon May 18, 2020 9:55 pm by The Invisible

» Tokyo Cement
UBC Union Bank of Colombo EmptyMon May 18, 2020 9:49 pm by The Invisible

» COMB.N0000 (Commercial Bank of Ceylon PLC)
UBC Union Bank of Colombo EmptyMon May 18, 2020 8:00 pm by pathfinder

» Sri Lanka Bonds Win Fans After Becoming Worst Performer in Asia
UBC Union Bank of Colombo EmptyMon May 18, 2020 10:52 am by serene

» Record price for Ceylon Tea…
UBC Union Bank of Colombo EmptySun May 17, 2020 10:22 am by The Invisible

» Sri Lanka tea prices soar despite COVID-19 disruptions
UBC Union Bank of Colombo EmptySun May 17, 2020 10:20 am by The Invisible

» පසුගිය සතියේ දී කොටස් වෙළෙඳපොළෙන් රු. බිලියන 3.5 ක ශුද්ධ විදේශීය ගලා යාමක්
UBC Union Bank of Colombo EmptySat May 16, 2020 4:45 pm by nihal123

» Am Sure He was Joking !
UBC Union Bank of Colombo EmptySat May 16, 2020 3:31 pm by slstock

» Films - To Watch List
UBC Union Bank of Colombo EmptyThu May 14, 2020 9:44 pm by nirmal

» Thread for News on CSE and SL Economy
UBC Union Bank of Colombo EmptyWed May 13, 2020 6:39 pm by nihal123

» කලකට පසු කොටස් වෙළෙඳපොළේ කැපී පෙනෙන වර්ධනයක්. 2018 නොවැම්බර් මාසයෙන් පසු සියලු කොටස් මිල දර්ශකයේ ඉහළම ප්‍රතිශතාත්මක වර්ධනය අද
UBC Union Bank of Colombo EmptyWed May 13, 2020 6:38 pm by nihal123

» Caught in Providence
UBC Union Bank of Colombo EmptyTue May 12, 2020 2:24 pm by කිත්සිරි ද සිල්වා

» Users Online
UBC Union Bank of Colombo EmptyMon May 11, 2020 8:38 am by slstock

» RECOMMENCEMENT OF TRADING
UBC Union Bank of Colombo EmptySat May 09, 2020 11:25 am by The Invisible

» Sri Lanka forex reserves drop US$353mn to US$7.2mn in April
UBC Union Bank of Colombo EmptyFri May 08, 2020 1:55 pm by The Invisible

» අසිරිමත් තෙමගුලක් ඔබ සියලු දෙන හට
UBC Union Bank of Colombo EmptyFri May 08, 2020 12:25 am by Afourer

» මහබැංකු පොලි අනුපාතය පහළට
UBC Union Bank of Colombo EmptyThu May 07, 2020 8:54 pm by The Invisible

» සියයට 10 කින් S&P SL20 වැටුණොත් කොටස් වෙළෙඳපොළ හමාරයි. දෛනික ගනුදෙනු අත්හිටුවීම අදියර තුනකින්
UBC Union Bank of Colombo EmptyThu May 07, 2020 10:22 am by nihal123

» The Wuhan virus lab at the heart of the US-China spat
UBC Union Bank of Colombo EmptyWed May 06, 2020 3:33 pm by The Invisible

» COVID-19 වසංගතය හේතුවෙන් දකුණු ආසියාවේ දරුණුතම ආර්ථික බලපෑම ශ්‍රී ලංකාවට – The Economist කියයි
UBC Union Bank of Colombo EmptyMon May 04, 2020 6:21 pm by nihal123

» තීන්ත කොන්ත්‍රාත්තුව
UBC Union Bank of Colombo EmptyMon May 04, 2020 1:56 pm by nihal123

» Sri Lanka’s oil palm growers say ready for more ‘import substitution’ if allowed
UBC Union Bank of Colombo EmptyMon May 04, 2020 11:45 am by The Invisible

» Sri Lanka high grown teas up, low growns ease in April 29/30 auction
UBC Union Bank of Colombo EmptyMon May 04, 2020 11:42 am by The Invisible

» Sri Lanka businesses call for labor law flexibility, deferred EPF in Coronavirus curfews
UBC Union Bank of Colombo EmptySun May 03, 2020 10:31 am by Expert

» Warren Buffett: ‘American magic’ will spur US economic recovery
UBC Union Bank of Colombo EmptySun May 03, 2020 9:20 am by කිත්සිරි ද සිල්වා

May 2020
SunMonTueWedThuFriSat
     12
3456789
10111213141516
17181920212223
24252627282930
31      

Calendar Calendar

Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

UBC Union Bank of Colombo

Go down

UBC Union Bank of Colombo Empty UBC Union Bank of Colombo

Post by The Invisible on Tue Sep 03, 2019 12:09 pm

Union Bank in talks with investors for funding UB Finance



ECONOMYNEXT- Sri Lanka’s Union Bank of Colombo Plc, said that it is in talks with potential investors for ‘strategic options’ for its subsidiary UB Finance Company Limited (UBF).




“We wish to inform you that the bank has engaged itself in discussions with identified investor/s to explore strategic options for its subsidiary,” Union Bank said in a stock exchange filing.




However, Union Bank has yet to receive a definitive offer from potential investors, and would continue to explore other options for UBF.




“The board of directors of the bank has decided to explore other strategic options for UBF, including, but not limited to divestment, merger, restructuring, spin-out.”




Union Bank owns 73.31 percent of the finance firm’s shares.




For the March 2019 quarter, UBF’s net profits were 20 million rupees, down from 71.8 million rupees as higher bad loan provisioning from the IFRS 9 accounting standard ate into earnings, interim financial statements showed.




The firm’s total loans were 9.97 billion rupees in March, down from 10.01 billion rupees a year earlier, while non-performing loans had grown to 1.8 billion rupees from 1.4 billion rupees.


Newsletter
Daily Brief

Economynext daily and weekly email newsletters covering the best of politics and policy.

Sign up













Just over half of the firm’s loans are in vehicle leases and hire purchases, while a quarter are in asset-backed loans, and 17 percent are factoring and working capital lending.




UBF’s asset base was 11.1 billion rupees in March, down marginally from 11.2 billion rupees a year earlier.




The firm is running with capital below central bank regulations set to manage risks.




As at March 31, UBF’s core capital ratio was 4.09 percent, below the regulatory minimum of 6 percent, and total capital ratio was 6.03 percent, short of the required 10 percent, financial statements showed. (Colombo/Sep03/2019)
The Invisible
The Invisible

Posts : 2095
Join date : 2016-11-28
Age : 40

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum