📈 Union Bank Records Explosive 570% Profit Growth in 1Q 2026

Union Bank has started 2026 with significant momentum, reporting a sharp acceleration in core earnings and operational efficiency following a transformative 2025. • Financial Performance • Gross Income: LKR 4.9 Bn (up 24% YoY). • Net Interest Income (NII): LKR 1,649 Mn (up 29% YoY). • Profit Before Tax (PBT): LKR 465 Mn (up 260% YoY). • Profit After Tax (PAT): LKR 334 Mn (up 570% YoY). • Sector & Revenue Drivers • Net Fee and Commission Income: Rose by 36% to LKR 387 Mn, driven by diversification across retail, SME, and corporate banking. • Other Income: Included LKR 213 Mn from the sale of shares in subsidiary UB Finance PLC. • Operating Expenses: Contained at 7% growth (LKR 1,576 Mn), leading to a 133% surge in operating results. • Balance Sheet & Capital • Total Assets: LKR 188.7 Bn (up 9% YTD). • Gross Loans & Advances: LKR 129.7 Bn (up 10% YTD). • Customer Deposits: LKR 124.4 Bn (up 5% YTD). • Capital Adequacy: Successfully issued a LKR 3 Bn debenture; Total Capital Ratio remains healthy at 14.7%. The bank attributes this performance to a digital-first strategy and a focus on core segments, providing a stable foundation for the remainder of 2026. Data based on 1Q interim results.