Union Bank of the Philippines
PPSE:UBP21.25
PHP
+0.35
(+1.67%)
Union Bank of the Philippines
PSE:UBP
(Philippine Stock Exchange)
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21.25
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- Union Bank of the Philippines is a universal banking and financial services institution providing commercial, retail, corporate, and digital banking solutions across the Philippines. Founded in 1968 and headquartered in Pasig City, Metro Manila, the company operates as the primary financial services subsidiary of Aboitiz Equity Ventures, alongside major institutional shareholders including the Social Security System and Insular Life Assurance Company. The bank operates through five principal business segments: Consumer Banking, Commercial Banking, Corporate Banking, Treasury and Global Markets, and Digital Banking. Its comprehensive product and service portfolio includes consumer deposit accounts, such as savings, checking, and time deposits; consumer financing products, including credit cards, auto loans, residential mortgage loans, and personal loans; commercial and SME banking facilities, comprising working capital financing, term loans, trade finance, and supply chain solutions; corporate banking solutions, encompassing structured finance, syndicated loans, liquidity management, merchant acquiring, and cash management through The Portal corporate platform; treasury and financial market operations, including foreign exchange trading, fixed-income distribution, interest rate hedging, and money market instruments; trust and wealth management services, including unit investment trust funds, segregated portfolio management, escrow services, and fiduciary administration; and specialized mass-market lending, such as civil servant salary loans and motorcycle financing delivered via its thrift bank subsidiary, City Savings Bank. In addition, the bank delivers embedded finance solutions, API integration, and fintech platforms through UBX Philippines, as well as digital-native deposit and lending services via UnionDigital Bank. In recent developments, the bank completed the full systems integration and operational migration of Citigroup’s Philippine consumer banking business in 2024, significantly scaling its retail deposit base, wealth management portfolio, and credit card market share. Furthermore, the company spun off its trust and investment services group into a standalone entity, UnionBank Investment Management and Trust Corporation, and completed a 10 billion Philippine peso stock rights offering to strengthen capital adequacy and support ongoing expansion across its retail lending and digital banking subsidiaries.