Nirvana Chaudhary, newly appointed chairman of the Union Bank of Colombo (UBC) in Sri Lanka, has laid out a bold goal for the bank’s revival: to make it one of the top five players in Sri Lanka’s banking industry by 2026, despite a challenging landscape still reeling from the financial, economic, and political crisis it suffered in 2022.
Instead of being daunted by all these issues, however, Chaudhary even floated the idea of helping Sri Lanka overcome its financial crisis.
“Once the country gets politically stable, it wouldn’t be a big challenge to revive the economy. We aim to help overcome the cash-strapped nation’s financial crisis,” Chaudhary told Asian Banking & Finance. “We are taking a strategic growth approach to make UBC among the top private commercial banks in Sri Lanka.”
Chaudhary outlined the two factors that he says will be key to achieving this three-year goal: collaborations and their growth plan. In particular, this might involve “partnerships in collaboration with fintech companies, NBFCs and other stakeholders, which helps to innovate and expand the bank’s service offerings,” he said.
この記事は Asian Banking & Finance の Issue 114 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Asian Banking & Finance の Issue 114 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Embedded Finance, Digital Banks To Drive SEA's Fintechs
Embedded finance, partnerships, and digital banks will be the three defining trends shaping Southeast Asia’s financial technology (fintech) landscape in the future.
UBC Aims For Top 5 In Sri Lanka Banking
Chairman Nirvana Chaudhary is prepared to lead amidst a national finance crisis.
What Makes Malaysia The Next Great Investment Banking Frontier In Southeast Asia?
EVs, takaful insurance, and its proximity to Singapore attract investment activity, according to a BofA executive.
How HomePay Is Combating Renovation Scams In Singapore
Money is put in an escrow account and disbursed when milestones are reached.
Will Property Woes Continue To Weigh On Chinese Megabanks?
This year, Chinese megabanks are facing two big hurdles: the government’s mandate that may force banks to take on more risks in the name of propping up China’s embattled property sector; and declining credit demand and interest rates.
How Have Banks' Wealth Management Pivots Played Out In China?
There’s up to $25b in fees to be made in Asia, but it’s a tough market, an analyst said.
Why Singaporeans are okay with locking away over $4b of their money
Customers can only access 'locked' money with a physical card or by visiting a branch.
OCBC builds the the next pipeline of talent
Lim weaves in support for women bankers to broader industry talent shortage.
Banks flip the tables on disruption by becoming the disruptors themselves
Companies are facing not just tech transformations but also shorter skill lifespans for their workforce.
Basel III capital hike is not a problem for APAC
Most of banking jurisdictions in most Asia Pacific markets should be able to absorb the moderate increases in capital requirements stipulated under the final Basel III standards.
