Union Bank of the Philippines
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|Union Savings and Mortgage Bank|
|Traded as||PSE: UBP|
|Industry||Finance and Insurance|
|Founded||August 16, 1968Manila, Philippinesin|
|Revenue||P25.32 Billion PHP (30.42%) (2016)|
|P10.1 Billion PHP (67%) (2016) |
Number of employees
The Union Bank of the Philippines, Inc. more commonly known as UnionBank, is one of the largest banks in the Philippines, ranking seventh in terms of assets after its successful merger with smaller competitor International Exchange Bank. It is one of the most stable Philippine banks and is the host bank of the E-Card accounts of the members of the Government Service Insurance System.
UnionBank is a Philippine universal bank. Today multiple channels are available for transaction and information access: nationwide branch network, on-site and off-site automated teller machines, a call center and Internet bank.
In strategic business, the bank is a provider of corporate cash management & B2B solutions to leading local and multinational companies operating in the country. Its other lines of business are in Treasury services & capital markets, Internet banking, consumer finance and distribution network. It caters mostly banking needs of upper middle to upper social class 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.
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.
Subsidiaries and Affiliates
UnionBank is divided into the following subsidiaries and affiliates:
- CitySavings Bank
- First Union Direct
- First Union Plans
- UBP Capital Corporation
- Union Properties
- UBX Philippines, Inc.
- Aboitiz Equity Ventures: 49.629%
- Social Security System: 26.87%
- Insular Life: 18.75%
- Public stock: 4.751%
- International Exchange Bank
- Land Bank of the Philippines
- List of Philippine companies
- BancNet (the UnionBank ATM network)
- | Maricel E Burgonio, "UnionBank Eyes Bank Acquisitions; iBank Denies Any Offer", Manila Times, May 4, 2006 – via HighBeam Research (subscription required).
- "Unionbank to sign iBank acquisition deal Monday", Manila Bulletin, June 2, 2006 – via HighBeam Research (subscription required).