Union Finance Limited (UFL)
Update: The institution was acquired by Deva Bikas Bank Limited in 2017.
A multi dimensional service oriented finance company established in 1993, Union Finance Limited (UFL) was established in technical collaboration with BAIL Equipment of UECIC Banks of France whose leasing expertise is widely recognized throughout France. The finance company with a progressive outlook has been successful in keeping up with the needs of its customers by constant initiation of pro-active measures. The company aims to achieve corporate excellence and be a leader in its field of service by providing total customer satisfaction for optimum returns to its promoters and shareholders coupled with the development of the organization and the nation.
The first non-banking financial institution to introduce the leasing business in Nepal, Union Finance Limited was registered under the Company Act on March 25th 1993 and commenced its operation on December 12th 1994 after it obtained the license on September 17th 1994 from Nepal Rastra Bank.
The company has been successfully providing financial services to individuals and business enterprises within the Kathmandu valley as well as other parts of the country, since its inception, in the form of taking deposits, lease financing, loans and financial guarantees. The company established with the authorized capital of NRs 300,000,000, issued capital of NRs 176,585,400 and paid up capital of NRs 176,585,400 has successfully maintained its professional standards and transparency in all its dealing with the customers and authorities and has followed an open and fair recruitment policy to recruit staff members. The company has been thriving to extend financial services throughout the country despite the economic constraints and limited investment avenues. The company further plans to upgrade its financial services by investing in projects and industries as well.
To meet the expectations and requirements of its customers and clients along with fulfilling its objectives, Union Finance Limited has brought many offers such as Fixed Deposit Scheme, Regular Savings Scheme, Premium Saving Scheme, Recurring Scheme, Baidesik Rojgar Bachat Khata, Ujjwal Bhavishya Yojana and Share Bachat Khata under its saving and deposit schemes and Hire Purchase Loan, Working Capital Loan, Fixed Capital Loan, Housing Loan, Educational Loan, Financial Guarantee, Business Loan and Share Loan under its loan and advances schemes. And keeping in mind, the convenience and needs of its valued customers and clients, it has established a branch office in the lake city of Pokhara with plans to further extend its reach with other branch offices opening at various locations soon.
The institution was acquired by Deva Bikas Bank Limited in 2017.