Union Bank posts Rs. 834 m pre-tax profit for 1H’25
View(s):Union Bank of Colombo PLC has reported a Profit After Tax (PAT) of Rs. 251 million for the first half of 2025 ending 30 June, marking a sharp 247 per cent increase compared to the same period in 2024. This robust profit growth was underpinned by continued expansion of the bank’s balance sheet and strategic operational improvements, the bank said in a media release.
Profit Before Tax (PBT) also rose by 58 per cent to Rs. 834 million, reflecting enhanced performance across core banking operations and increased contributions from subsidiaries. The bank’s net loans and advances exceeded Rs. 100 billion during the period, representing a 24 per cent year-to-date growth, with focused growth strategies in leasing and pawning portfolios.
Union Bank also recorded a net impairment reversal of Rs. 23 million, attributed to improved credit quality and recovery efforts. While operating expenses rose in line with business growth and continued investment in strategic initiatives, total operating income increased by 8 per cent, driven by higher non-interest income and operational efficiency. Customer deposits reached Rs. 108 billion, supported by a higher CASA ratio of 28.3 per cent, indicating improved deposit mix. The bank maintained strong capital adequacy levels, with a Total Capital Adequacy Ratio (CAR) of 13.65 per cent and a Tier I CAR of 12.64 per cent, remaining well above regulatory thresholds. Total assets of the group grew to Rs. 171 billion, underscoring the bank’s solid financial foundation and growth trajectory.
Union Bank Chairman Dinesh Weerakkody stated that the bank’s latest results underscore its resilience and the effectiveness of the transformational initiatives implemented in recent periods. He noted that the bank remains firmly focused on strengthening and expanding its customer base to drive sustainable growth.
“Our results for the first half of 2025 reflect the positive momentum in our business, supported by sustained balance sheet growth and a disciplined approach to asset and liability management,” said Dilshan Rodrigo, Director/CEO of Union Bank.
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