Unionbank (Philippines)

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Union Bank of the Philippines
FormerlyUnion Savings and Mortgage Bank
TypePublic
PSE: UBP
IndustryFinance and Insurance
FoundedAugust 16, 1968; 53 years ago (1968-08-16) in Manila, Philippines
Headquarters
Meralco Avenue cor. Onyx Drive, Ortigas Center, Pasig
,
Philippines
Area served
Philippines
Key people
  • Erramon I. Aboitiz (Chairman)
  • Dr. Justo A. Ortiz (Vice Chairman)
  • Edwin R. Bautista (President and CEO)
ProductsDigital banking
Consumer banking
Commercial Banking
Mutual Funds
Insurance
Private Banking
Credit Cards
RevenueP38.58 Billion PHP Increase (2020)
P11.55 Billion PHP Decrease (2020)
Total assetsP774.46 Billion PHP Increase (2020)
Number of employees
3,525 (2020)
Capital ratioTier 1 13.2% (2019)[1]
Websitewww.unionbankph.com

The Union Bank of the Philippines, Inc., more commonly known as UnionBank, is one of the Universal Banks in the Philippines.

UnionBank is a partnership among the Aboitiz Group, Insular Life and Social Security System. It started operations in 1981 and became a commercial bank on January 19, 1982. In July 1992, UnionBank was granted the license to operate as a universal bank.

History[]

The bank was originally incorporated as “Union Savings and Mortgage Bank” on August 16, 1968. After the initial public offering UnionBank's shares were listed at the Philippine Stock Exchange (PSE) on June 29, 1992. On July 15, 1992 the bank was granted the license to operate as a universal bank in the Philippines.

In 1993 UnionBank merged with International Corporate Bank ("Interbank") and in 2006 another merger with International Exchange Bank ("iBank") followed (after first being denied by iBank).[2][3]

Subsidiaries and Affiliates[]

UnionBank is divided into the following subsidiaries and affiliates:

  • City Savings Bank
  • First Union Direct
  • First Union Plans
  • UBP Capital Corporation
  • Union Properties
  • UBX Philippines, Inc.[4]

Ownership[]

See also[]

References[]

  1. ^ "Home Page | UnionBank of the Philippines". unionbankph.com.
  2. ^ | Maricel E Burgonio, "UnionBank Eyes Bank Acquisitions; iBank Denies Any Offer", Manila Times, May 4, 2006  – via HighBeam Research (subscription required).
  3. ^ "Unionbank to sign iBank acquisition deal Monday", Manila Bulletin, June 2, 2006  – via HighBeam Research (subscription required).
  4. ^ "About UBX". ubx.ph.
  5. ^ "Home Page | UnionBank of the Philippines". unionbankph.com. Retrieved 2021-01-04.

https://online.unionbankph.com/ucore/img/rebrand/logo-black.png

  1. ^ https://www.bsp.gov.ph/Statistics/Financial%20Statements/Commercial/assets.aspx
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