Union Bank recorded a significant improvement in profitability and financial performance during the first nine months of 2026.
The bank’s profit before tax rose by 48% year-on-year to 1.744 billion rupees for the nine months ended September 30th, 2026.
Profit after tax also increased by 104% to 701 million rupees.
Gross income grew by 20% to 15.803 billion rupees, while net interest income rose by 27% to 5.039 billion rupees during the period.
The bank’s total assets increased by 20% to 207.087 billion rupees, while net loans and advances grew by 25% to 138.329 billion rupees.
Customer deposits also recorded a 16% increase, reaching 138.096 billion rupees.
Commenting on the performance, Union Bank Chairman Dinesh Weerakkody said the bank’s transformation process and core banking operations continued to demonstrate strong progress despite a challenging operating environment.
Meanwhile, Director and Chief Executive Officer Dilshan Rodrigo stated that the bank expects to sustain this growth by introducing new customer-focused products, expanding its service network, strengthening digital capabilities and improving service quality.
At the group level, profit before tax increased by 51% to 2.061 billion rupees, while profit after tax grew by 108% to 723 million rupees.
Source: Hiru News