UnionBank
UnionBank of the Philippines is the country's ninth largest bank by assets. UnionBank is a joint consortium among the Aboitiz Group, Insular Life and the Social Security System.
UnionBank opens new branch in Cebu City’s Aboitiz Corporate Center
UnionBank opens new branch in Cebu City’s Aboitiz Corporate Center
This is the Philippine bank’s 200th branch in the region.
Union Bank of the Philippines appoints five senior officers
One is senior vice president, two are VPs, and two are assistant VPs.
Top Philippine banks’ strong capitalisation, liquidity a buffer for macro risks
Provisioning costs are expected to remain elevated as they expand their consumer loan books.
UnionBank raises $282.5m in fixed rate bonds
It plans to use the proceeds to extend term liabilities, expand funding base, etcetera.
Union Bank of the Philippines ‘aggressive’ growth strategy brings more problem loans
Its problem loan ratio is expected to remain at the 6% to 7% range in 2025.
UnionBank strengthens climate risk strategies with adaptive financing
The bank offers loan restructuring, pop-up banking for disaster-hit communities.
AI needs better explainability to build decision-makers’ trust
Transparency and collaboration are key to meaningful AI adoption.
Philippine banks report “generally strong” loan growth in Q4
Some major banks’ saw dramatic rises in NPL ratios.
UnionBank names Vivian Perez as financial risk and performance head
The appointment was effective 2 January 2025.
Philippine banks launch PHPX stablecoin
It hopes to take advantage of the $9t global stablecoin transactions market.
Union Bank’s profit outlook dims on higher costs and riskier loans
It has less buffers for loan losses than lower-rated banking peers, Moody’s Ratings warned.
UnionBank releases four new credit cards with various benefits
Interested users can choose from retail, cost-saving, travel, and luxury types of credit cards.
Artificial Intelligence can fill the crevices in the banking industry: UnionBank exec
Other potentials of AI in banking could help reach broader markets in the underserved segment of the country.
UnionDigitalBank, Capital A launch embedded finance services in the Philippines
Amongst services to be offered is the “Fly Now, Pay Later” flexible payment option.
UnionDigital Bank bags $16m more in capital
It will be utilised to grow its digital loan offerings.
Central bank rate cuts could raise Philippine banks’ earnings by 2.6%
Every 100bp rate cut would free PHP106b of liquidity.
UnionBank net income up 12% to $233.59m in 2022
Revenue hit a record high, whilst consumer loans rose after acquiring Citi’s assets.
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