FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

Click Link to get instant AI answers to all business queries.
Click Link to find latest Economic Outlook of Sri Lanka
Click Link to view latest Research and Analysis of the key Sectors and Industries of Sri Lanka
Worried about Paying Taxes? Click Link to find answers to all your Tax related matters
Do you have a legal issues? Find instant answers to all Sri Lanka Legal queries. Click Link
Latest images

Latest topics

» Price Movement in Brent Co., WTI Co., and CEYPETCO Price Revisions Since Hamas' Attack on Israel in October 2023
by sheildskye Today at 6:19 am

» WATA; MELS; LLUB; RCL- DIVIDEND SEASON
by sheildskye Today at 6:04 am

» NDB Wealth buys more into Access Engineering; foreign investor Tundra exits
by Dasun Maduwantha Sun Oct 13, 2024 12:57 pm

» Access to invest in agri and livestock
by rajithasahan Sun Oct 13, 2024 12:00 am

» ACCESS ENGINEERING PLC (AEL.N0000)
by Shiranli Sat Oct 12, 2024 11:48 am

» COMMERCIAL BANK OF CEYLON PLC (COMB.N0000)
by EPS Fri Oct 11, 2024 10:54 pm

» Stocks on the Radar at CSE
by Biggy Fri Oct 11, 2024 11:37 am

» Construction Giant's IPO - Access Engineering
by Nandana Withanage Thu Oct 10, 2024 1:12 am

» Global Rice prices drops
by Rare Sun Oct 06, 2024 3:19 am

» Post-election winners.
by Rare Thu Oct 03, 2024 1:01 pm

» ACCESS Engineering,my target Rs. 26/-
by shiraz latiff Thu Oct 03, 2024 12:41 pm

» Access Engineering awarded two more contract packages at Colombo Port
by shiraz latiff Thu Oct 03, 2024 12:39 pm

» Asha Securities and Asia Securities Target AEL (Access Enginnering PLC )
by nilantha suranga Thu Oct 03, 2024 12:36 pm

» ACCESS ENGINEERING PLC (AEL) Will pass IPO Price of Rs 25 ?????
by Anushka Perz Wed Oct 02, 2024 10:33 am

» History Repeat Access Engineering PLC
by sakuni Wed Oct 02, 2024 10:31 am

» Asian stocks drift higher amid rate cut speculation; Japan lags
by Rare Mon Sep 30, 2024 1:29 pm

» Sri Lanka: Light Rail Transport (LRT) at what opportunity cost?
by God Father Mon Sep 30, 2024 7:52 am

» Sri Lankan companies with small market cap
by Rare Sat Sep 28, 2024 4:41 am

» Large cap Sri Lankan companies
by Rare Sat Sep 28, 2024 4:36 am

» Gold, copper, iron and aluminum no more bargain
by Rare Sat Sep 28, 2024 4:25 am

» Reinstatement of SLT-Mobitel's ETA System for Streamlined Visa Processing
by pramu perera Fri Sep 27, 2024 8:49 pm

» Oil prices fall further
by Rare Fri Sep 27, 2024 12:20 pm

» Sri Lanka rupee closes at 275/290 to the US dollar
by Rare Thu Sep 26, 2024 11:58 am

LISTED COMPANIES

Submit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)



CHRONICLE™ YouTube


You are not connected. Please login or register

Union Bank’s impressive business performance drives results for 9 months ended 16 Sep.((UBC))

+6
reyaz
SLFINANCEWATCH
Mubin Mustafa
samaritan
uf1991
Shiva911
10 posters

Go down  Message [Page 1 of 1]

Shiva911


Equity Analytic
Equity Analytic

Union Bank’s impressive business performance drives results for 9 months ended 16 Sep.((UBC)) Downlo10
https://www.cse.lk/#/home/company-info/UBC.N0000/financial



Union Bank’s impressive business performance drives results for 9 months ended 16 Sep.((UBC)) Untitl11

The bank’s post-tax profit for the period was Rs. 262 m, a 125% increase YoY. 

Reflecting steady progress, total operating income of the bank grew by 30% YoY to Rs. 2,685 m. Reflecting a strong Core Banking performance, Interest Income grew by 66% YoY to Rs. 4,951 m. 

Interest Expense grew by 128% YoY to Rs. 3,301 m. As a result, NII grew by 7% YoY to Rs. 1,651 m. The bank’s fee and commission income of Rs. 239 m is an increase of 57% over the comparative period with fee income from business lending, cards and trade transactions being the primary contributors of the said impressive growth. Other income grew significantly by 104% to Rs. 846 m. The bank does not have any exposure to the equity market.

Reflecting a significant improvement in the quality of the portfolio, the Net NPL ratio improved to 1.9% from 2.7% in December 2015 with a corresponding reduction in impairment charges from the comparative period. Total Impairment charge for the period is Rs. 38 m and reflected a 72% reduction YoY.

The bank’s total operating expenses increased by 31% to Rs. 2,226 m primarily due to investment spending on new branches, ATMs, staff and technology in line with the strategic plan. 

The bank remains well capitalised with a strong core capital adequacy ratio of 23% and a total capital adequacy ratio of 22%. 

The  bank’s  balance  sheet  expanded  by  22%  YTD  to  reach  Rs. 86,783 m. Loans and advances grew by 31% to Rs. 52,418 m during the period under review, while customer deposits reflected a growth of 32% to Rs. 49,589 m.


Operational performance 

The continuous improvement of the bank’s financial performance affirms the success of the concerted efforts of Union Bank in its new strategic focus following the landmark investment from TPG - one of the largest global private investment firms.

Key operational and business performance enhancers implemented up to the third quarter of 2016 have contributed to the continuous growth of Union Bank’s financial performance, while strengthening its new position as a fully-fledged commercial bank serving a diverse clientele including the Retail, SME and Corporate segments. Such crucial strategic steps implemented by the bank include efficiency enhancements, channel development and portfolio diversification.  

In line with Union Bank’s mandate to deliver greater banking convenience, the bank extended its reach within the Western Province with the opening of its 65th branch in Borella in July 2016. The branch, located at No. 40, Gnanartha Pradeepa Mawatha in Colombo 8, offers a comprehensive portfolio of products and services including Retail, Corporate and SME banking solutions, delivered in an open, customer-centric and welcoming ambience that provides a redefined banking experience with greater convenience and better engagement of customers.

Facilitating further convenience and ease of access, Union Bank expanded its offsite ATM network to 53 ATMs by the end of the third quarter of 2016, increasing its overall ATM network to 119. Union Bank’s island-wide network expansion will continue to support its business growth while the sizing up of its network of offsite ATMs and entering into strategic partnerships that deliver enhanced convenience will continue to add value to the customer experience.    

Adding more versatility to its Retail Banking portfolio, in September 2016 Union Bank announced the launch of Union Bank Invest Plus - a systematic investment plan designed to reward the commitment of prudent savers who are willing to save on a continuous basis.This pragmatic addition to the range of Retail Banking solutions offered by the bank is expected to help clients to follow a disciplined savings routine to enjoy a guaranteed return on their savings. The new product, which aims to build long-term relationships with clients while channeling continued deposit inflows, is expected to make significant contributions to the bank’s deposit portfolio.

The bank continued strong growth across the SME, Corporate and Retail Banking segments in the third quarter of 2016. The innovative cash management solution, which was launched within the second quarter of the year, showed increased customer uptake, contributing to portfolio expansion. 

Commenting on the performance of the bank, Union Bank Director/Chief Executive Officer Indrajit Wickramasinghe said: “Union Bank’s first nine months’ results are impressive, given the changes taking place in the market space. The growth achieved despite macroeconomic challenges can be attributed to the operational excellence and renewed strategic business focus of the bank. In  a bid to continue this growth momentum for the remainder of the year, Union Bank will continue to harness the benefits of its operational efficiencies while continuing to diversify our product portfolio and delivery channels to cater to the growing customer bases. With the backing of a strong capital base, a focused business plan and a dynamic team geared for performance, Union Bank will continue to build on this success, while taking on the challenges and opportunities that will emerge within the final quarter of 2016 and beyond.”

Shiva911


Equity Analytic
Equity Analytic

Union Bank’s impressive business performance drives results for 9 months ended 16 Sep.((UBC)) Ubc10
Turning point. cheers cheers cheers cheers cheers cheers cheers cheers cheers cheers cheers cheers

uf1991


Equity Analytic
Equity Analytic

there performance has turn around last 2-3Qtrs but look at there PE ratio. It has the highest PE ratio value among banking sector.

samaritan


Moderator
Moderator

uf1991 wrote:there performance has turn around last 2-3Qtrs but look at there PE ratio. It has the highest PE ratio value among banking sector.
PE = 40, Long way to go!

Mubin Mustafa


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Ec did nice review article on this..couldn't find the thread..now it is collecting time. Buy at this level

Mubin Mustafa


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

10.28.2016 buy recommendations at 16.10 ...from MM

SLFINANCEWATCH

SLFINANCEWATCH
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Try VFIN and Win...

reyaz

reyaz
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Yeah, their directors are well known by me and they have excellent track record.

Richie


Senior Equity Analytic
Senior Equity Analytic

Can not understand why some says very impressive ???? If they had invested in Treasury bills rather than in business they would have earned more ????

SLFINANCEWATCH

SLFINANCEWATCH
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Spot on Richie..

Bullrunner7

Bullrunner7
Manager - Equity Analytics
Manager - Equity Analytics

Good share to buy at 14 levels.
There's strong support at 14.10
This will rebound to 17 levels after hitting the strong support at 14.10

PrasannaMani

PrasannaMani
Manager - Equity Analytics
Manager - Equity Analytics

Bullrunner7 wrote:Good share to buy at 14 levels.
There's strong support at 14.10
This will rebound to 17 levels after hitting the strong support at 14.10
So u can't buy and sell it.if so sure....come on buddy....

EquityChamp

EquityChamp
Moderator
Moderator

UBC is a long term investment. It is not a kind of share to trade given its huge liquidity. But if you consider their growth and invest at current price levels then by next four to five years time you will be able to earn 100% return.

PrasannaMani

PrasannaMani
Manager - Equity Analytics
Manager - Equity Analytics

EquityChamp wrote:UBC is a long term investment. It is not a kind of share to trade given its huge liquidity. But if you consider their growth and invest at current price levels then by next four to five years time you will be able to earn 100% return.
agree with u

Bullrunner7

Bullrunner7
Manager - Equity Analytics
Manager - Equity Analytics

What about medium term vise ec ?

Sponsored content



Back to top  Message [Page 1 of 1]

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