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Sep 29, 2014 (LBO) – Sri Lanka’s UB finance to open more avenues to improve the small and medium sector and the lifestyle of the people, the company said in a media release. UB finance, a financial service solution provider is a subsidiary of Union Bank of Sri Lanka.

In the coming year, UB Finance would open avenues to improve the SME Sector and the personal aspirations and lifestyles of the Sri Lankan people. Alexis Lovell MBE, Chairman of UB Finance was quoted in the release.

He said with the recent investment made into Union Bank by TPG Asia VI L.P , a global equity firm, the Union Bank Group, which currently includes Union Bank, UB Finance and NAMAL, is poised to make serious inroads into the financial services sector.

The company reported a profit before tax of 146 million rupees and a 92 million rupees of profit after tax for the last financial year 2013/2014.