Union Capital Limited a non-bank financial institution registered and established in Bangladesh on 12 August 1998 under the Financial Institutions Act 1993 to carry out businesses of lease financing for industrial, commercial, medical, electric and electronic equipment and all types of transport equipment including vehicles, corporate financing and management, stock market activities, term deposit taking and other investment activities. Corporate financing activities include advisory services, syndicated loans, venture capital finance, merger & acquisition, and participation in the privatisation process of industrial and commercial enterprises. The institution conducts trading in share both in Dhaka and Chittagong Stock Exchanges through its subsidiary, the SES Company Ltd. Union Capital started functioning with an authorised capital of Tk 500 million divided into 5 million shares of Tk 100 each. The paid up capital was Tk 50.5 million on 30 June 2001. In 2000, the company created a reserve fund of Tk 2 million.

The company leased different types of machinery and equipment to large and medium scale industries and real estate and transport sector enterprises. The cumulative value of leased assets up to 31 December 2000 was Tk 133 million. Investments of the company in other assets stood at Tk 18 million on the same date. During the period of its operations up to December 2000, Union Capital provided a total of Tk 6 million in term finance to 74 projects. Total capital and liabilities of Tk 63.66 million comprised total shareholders equity Tk 46.28 million, term loans from banks Tk 6.90 million, lease deposits received Tk 4.96 million and other liabilities Tk 5.51 million. Total operating incomes and expenses of the company in 1999 were Tk 21 million and Tk 22 million respectively that registered a gross loss of Tk 1 million. The corresponding figures for 2000 were Tk 43 million and Tk 36 million showing a gross operating profit of Tk 7 million.

In 2001, the company had 24 employees headed by the managing director, who is also the member secretary of the company's board of directors. [S M Mahfuzur Rahman]