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.
Union Bank’s profit outlook dims on higher costs and riskier loans
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.
UnionBank transforms wealth digital platform with Avaloq
It will standardize the front, middle, and back office of UnionBank’s wealth mgmt functions.
Citi completes sale of Philippine consumer business to UnionBank
The sale includes the transfer of 1,540 staff to the Philippine bank.
SEA banks' more crypto exposure could hit earnings in the long run: Fitch
Banks looking to dab in crypto face operational, reputational, and legal risks.
Union Bank’s capital buffers to weaken following Citi purchase: analyst
Any potential earnings boost remain uncertain; whilst reduced capital will take years to rebuild.
UnionBank to buy Citi’s Philippine consumer banking franchise for $908m
Around 1,750 Citi employees are expected to transfer to UnionBank.
UnionBank in talks to take over Citi’s consumer banking assets in the Philippines
Discussions between the two banks are at the preliminary stage.
UnionBank clinches Philippines’ 4th digital bank license
UnionDigital will be a wholly-owned subsidiary of the Philippine lender.
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