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| Thursday, 26 February 2004 |
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Union Bank opens latest branch Union Bank's latest branch in Old Moor Street was opened by its Chairman, Ajita de Soysa, on Monday January 19, 2004. It was well-attended by a large gathering of leading businessmen from the area who opened accounts soon after the opening ceremonies. According to the Manager of Old Moor Street Branch, Mr. Sivathasan, who has been a senior bank manager in Aluthkade, Grandpass and Pettah areas, and is consequently well known to the leading traders in those localities, he is confident of the Union Bank's new branch rapidly making in-roads into the substantial banking business in that thriving merchant community. Mr. Sivathasan was also certain of his branch's ability to grow quickly with the selected customer base that Union Bank has been successful in attracting and others who will come on board with the branch's aggressive marketing efforts. The Old Moor Street Branch provides a full range of banking services. The CEO of Union Bank, Mahendra Fernando, speaking at the opening, expressed delight in the progress that Union Bank has been able to achieve in the short space of time since the bank was re-capitalized and re-structured a few months ago by a group of new investors consisting of two major banks, Sampath and National Savings, other leading business houses and highly regarded businessmen. The progress included turning the lossmaking bank into one which is now declaring profits, significantly improved volumes of business by way of increased deposit and advances bases and a streamlined and highly-energized staff. Fernando said that this latest branch was in line with a carefully crafted plan for the future of the bank and that, in keeping with this plan, more branches and new products and services will follow in the days and months to come. Fernando highlighted the significant strengths of the bank, which includes superior information technology and related products, in which field the bank has scored many firsts, and highly reputed customer care coupled with very professional services which have secured for Union Bank a very loyal and increasing customer base. Fernando stressed that while Union Bank will continue to improve and refine its various core competencies, the bank will be very conscious of its role as good corporate citizen. Later in the morning, the bank also opened its extension office in new premises in Kotahena at George R. de Silva Mawatha. This extension office will continue to cater to the broad customer base which Union Bank has already established in Kotahena while also using its strengths and contacts to rapidly expand its operations. |
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