Union Bank of Colombo PLC recently announced 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 Rs. 3 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.

Union Bank Director and Chief Executive Officer Dilshan Rodrigo said: “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.”