Union Bank goes to Achchuveli

Union Bank opened a branch in Achchuveli on Monday. The Bank has already opened four other branches namely, Jaffna, Vavuniya, Mannar and Chunnakam.

A spokesperson for the Bank said that Union Bank is a preferred bank for SME and retail banking sectors and the Bank has a comprehensive product portfolio to service areas such as Achchuveli that are agriculture based and thereby support the development of livelihoods of the farming community in the area.

The Bank offers a range of flexible financial options including loan schemes with attractive repayment plans and low interest rates for the purchase of tractors, farm machinery, equipment and construction of agriculture wells.

In addition the Bank is also actively promoting the Central Bank approved credit lines including the North and the East credit line that was established for the resumption of economic activities in the North and the East of Sri Lanka.

The Bank recently launched the EasyPlus current account targeting low income earners.

The account can be operated with an initial deposit of Rs 5,000 and the bank said there is much potential in areas such as Achchuveli.

The Bank reported a significant upturn in its performance for the half year ended June 30, and its pre-tax profits improved by 65 per cent.

The Bank is now strategically positioned to embark on an aggressive growth strategy in addition to comfortably surpassing the regulatory minimum capital requirements for commercial banks.

The Bank is investing significantly in brand building and network expansion as well as value additions to its existing portfolios and launching of new products especially innovative, technology driven state-of-the-art banking solutions which have been synonymous with Union Bank since its formation.