UB Finance launches new services
UB Finance Company Limited (UBF) has expanded its trade-related
portfolio by offering factoring and working capital solutions to small
and medium enterprises.
"UBF believes that there is an increasing demand for working capital
solutions from Sri Lankan businesses to improve their liquidity through
alternative forms of finance. Hence it is an excellent opportunity to
support the development of local businesses through the setting up of
the Factoring and Working Capital Solutions unit," a spokesman for UBF
"Factoring is an effective instrument for large clients and small and
It will increase the number of buyers, expand the area of deliveries,
boost sales, derive maximum profit from seasonal demand highs and
liquidate cash gaps," he said.
DGM of UBF, Suresh Kandiah said, "We are excited to launch UBF
Factoring and Working Capital Services and are we offer tailor-made
working capital solutions to suit our clients' specific needs, with the
support of a dedicated relationship management team."
"We are also supported by a custom-built, state-of-the-art factoring
and working capital management solution which will provide our clients
with on- going support, further enhancing our value to the customer," he
Senior Manager, Factoring, Ms. Himali Perera said, "UB Finance
Company Limited is backed the Union Bank of Colombo. Therefore, having
the stability of a bank and flexibility of a finance company, we are
capable of providing specialised services to our clients."
Ms. Perera said providing a superior customer service is the key to
success in this competitive industry and added that her team is ready to
support clients with out-of-the box working capital solutions.
Kandiah said that this new product line along with the other services
such as, leasing, higher purchase, loans, fixed deposits, savings and
real estate, will provide a comprehensive financial solution to their