BALANCE SHEET GROWTH IN THE FIRST QUARTER OF 2017
The first quarter of 2017 saw Union Bank attaining strong balance sheet growth and laying a solid platform for the remaining period of 2017. The bank displayed a strong 95 percent growth in results from operating activities, recording Rs. 147 million, in comparison to Rs. 75 million in the previous year, reflecting the successful implementation of the bank’s strategic initiatives. This was mainly attributed to the healthy increase in Net Interest Income of 73 percent despite the challenging macroeconomic environment. During the period under review, the bank remained focussed on aiding the growth of Net Interest Income through prudent management of the Net Interest Margin coupled with Total Asset growth.