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UB Finance gets first Fitch National long-term rating

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UB Finance Co. Ltd., a premier licensed finance company in Sri Lanka, has been assigned a first-time National Long-Term Rating of ‘BB (lka)’ RWN by Fitch Ratings Lanka Ltd.

UB Finance has been a significant player in the financial services space since its acquisition in 2011 by Union Bank of Colombo PLC, one of Sri Lanka’s most stable and well-capitalized banks together with its strategic investment partner ShoreCap II Ltd., a US-based social impact fund. UB Finance is among the licensed finance companies that have the highest capitalization ratios on the Island.

The Company’s contribution towards uplifting Sri Lanka’s economy is also notably influenced by ShoreCap II Ltd’s social impact mindset. Deputy General Manager – Finance UB Finance, Asanka Udugama said “this rating reflects the Company’s stability in a volatile environment and our dedication towards supporting economic growth in Sri Lanka. We remain confident in our ability to seize emerging opportunities and continue to strengthen our presence and position, going forward.”


Wednesday, June 7, 2023 – 01:00

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