Reflecting a sharp trajectory of operational efficiency and revenue expansion, Union Bank’s Profit Before Tax (PBT) increased by 84% year-on-year to Rs 881 million (m) for 1H 2026. Profit After Tax (PAT) expanded by 134% year-on-year to Rs 587 m, almost doubling its first-quarter performance and underscoring sustained earnings quality.

Core revenue drivers continued to perform strongly during the six-month period. Gross income rose by 19% to Rs 10,139 m, underpinned by a 22% increase in Net Interest Income (NII) to Rs 3,148 m, reflecting the resilience of the Bank’s core lending and treasury operations. Net Fee and Commission Income also posted a steady 13% increase to Rs 732 m, driven by consistent contributions from the retail, SME, and corporate banking segments. 

Overall, income from operating activities grew by an impressive 58% to Rs 1,250 m, which also included Rs 249 m arising from the sale of shares held by the Bank in its subsidiary, UB Finance PLC. To support market penetration and accelerate deposit mobilisation, operating expenses increased by a disciplined 9%.

The Bank’s balance sheet continued its upward expansion, with Total Assets growing by 15% to Rs 199,283 m. Customer deposits grew by 10% to Rs 130,219 m, demonstrating deepening customer confidence in response to the Bank’s targeted marketing and promotional initiatives. Gross loans and advances stood at Rs 136,742 m, up 16% year-on-year, maintaining the strong credit momentum established earlier in the year.

At the Group level – which includes UB Finance PLC and National Asset Management Limited – performance remained equally robust. Group Total Assets grew by 17%,

while Group Profit Before Tax rose by 97% to Rs 997 m. Group Profit After Tax surged by 141% to Rs 604 m, confirming strong performance across the Group’s non-bank financial and asset management businesses.

Commenting on the results, Chairperson Dinesh Weerakkody said: “Our first-half 2026 performance reflects the strong momentum of Union Bank’s transformation. We remain committed to delivering sustainable growth and creating long-term value for our customers, shareholders, employees, and all stakeholders.”

Director/Chief Executive Officer Dilshan Rodrigo added that the first-half results highlight tangible returns from deliberate investments in new products, marketing, sales initiatives, and digital capabilities, providing a solid foundation for sustaining this momentum through the remainder of 2026.