UnionBank

Corporate brand

A Philippine universal bank known for combining full-service banking with digital finance, consumer banking, payments, and fintech capabilities.

Last updated November 4, 2026

AI crawler reads

2requests

1companies

Anthropic2

Profile: 2
Controversies: 0
JSON · MD: 0

First read: Nov 4, 2026
Latest read: Nov 4, 2026

From this site's server log

Overview

UnionBank is the consumer-facing brand of Union Bank of the Philippines, Inc., a Philippine universal banking group headquartered in Manila. It serves retail customers, small and medium-sized enterprises, corporations, institutions, and government-related markets through branch banking, electronic channels, lending, deposits, payments, investment banking, insurance-related services, and financial-technology businesses. The bank operates primarily in the Philippines and is associated with the Aboitiz Group, while its ownership structure also includes the Social Security System, Insular Life, and public shareholders. The institution traces its legal origins to Union Savings and Mortgage Bank, incorporated in 1968. It began banking operations in 1981 and became a commercial bank in January 1982. In 1992, after receiving authorization to operate as a universal bank, it adopted the name Union Bank of the Philippines. Its shares were listed on the Philippine Stock Exchange in June 1992. The universal-bank license allowed the institution to broaden its scope beyond savings and mortgage products into a wider range of commercial, investment, and financial services. UnionBank expanded through consolidation. Its 1993 merger with International Corporate Bank, commonly known as Interbank, increased its scale and market reach. A further merger with International Exchange Bank took place in 2006 after an earlier proposal had not initially been approved. In 2013, UnionBank acquired City Savings Bank, making CitySavings a wholly owned subsidiary and bringing another important banking platform into the Aboitiz group's financial-services portfolio. Technology and digital distribution became central to the brand's development. UnionBank was among the Philippine institutions selected by the Bangko Sentral ng Pilipinas to establish a digital bank in 2021. Its digital banking venture, UnionDigital Bank, received authority to operate in July 2022 and began operations that month. UnionBank's EON digital banking operations were subsequently integrated with UnionDigital, with EON products and services maintained during a transition period. The group also developed businesses in financial technology, payments, digital platforms, and banking infrastructure through related entities such as UBX. UnionBank has also experimented with blockchain and digital assets. In 2019 it introduced PHX, a peso-linked stablecoin designed to support payments and remittances involving rural banks, and it deployed cryptocurrency-enabled automated teller machines for eligible users. Later, the bank pursued institutional cryptocurrency trading and custody capabilities, working with a specialist digital-asset custody provider. These initiatives positioned UnionBank as one of the more technology-oriented major Philippine banks, although its core business remains conventional universal banking. In December 2021, UnionBank agreed to purchase Citibank Philippines' consumer banking operations. The transaction, which was reported at approximately PHP 55 billion, closed effective August 1, 2022. The acquisition broadened UnionBank's consumer franchise and added Citi's local credit-card, consumer-loan, deposit, and wealth-related customer relationships to the bank's platform. UnionBank remains an active Philippine banking group with a strategy that combines traditional banking scale, digital delivery, consumer expansion, and ecosystem-oriented financial technology.

History

UnionBank's institutional history began with the incorporation of Union Savings and Mortgage Bank on August 16, 1968. The original business was centered on savings and mortgage banking, but the institution later developed into a broader commercial and universal bank. It started operations in 1981 and obtained a commercial banking license on January 19, 1982. A major transformation occurred in 1992. The bank received authorization on July 15 to operate as a universal bank and changed its name to Union Bank of the Philippines. Its shares were listed on the Philippine Stock Exchange on June 29 of the same year. The universal-bank status enabled UnionBank to offer a more extensive portfolio spanning deposits, lending, corporate banking, investment banking, and other financial services. Consolidation was an important part of the bank's growth. In 1993, UnionBank merged with International Corporate Bank, also known as Interbank. In 2006, it completed another significant merger involving International Exchange Bank, or iBank. These combinations expanded its customer base, balance-sheet scale, distribution capabilities, and product coverage. UnionBank continued building an integrated financial group in the 2010s. In 2013, it acquired City Savings Bank, creating a wholly owned subsidiary known as CitySavings and consolidating another Aboitiz-linked banking operation within the group. The wider organization subsequently included financial-services, insurance-brokerage, investment, property, direct-sales, and technology affiliates. During the late 2010s and early 2020s, UnionBank emphasized digital finance. It launched blockchain-related initiatives, including PHX, a peso-linked stablecoin intended to facilitate payments and remittances involving rural banks. It also introduced cryptocurrency-enabled ATMs and later explored institutional cryptocurrency trading and custody. These projects complemented, rather than replaced, its traditional branch, card, deposit, loan, and corporate-banking businesses. In 2021, UnionBank was one of a limited number of applicants selected by the Bangko Sentral ng Pilipinas to establish a digital bank before a temporary moratorium on additional digital-bank licenses. UnionDigital Bank received its Certificate of Authority in July 2022 and commenced operations on July 18. UnionBank's EON digital banking operations were integrated with UnionDigital later that year, while existing EON products and services continued during the transition. The bank's largest recent strategic expansion was its agreement in December 2021 to acquire Citigroup's consumer banking operations in the Philippines. The transaction closed effective August 1, 2022, bringing Citi consumer customers and related products into UnionBank. The deal strengthened UnionBank's position in cards, deposits, consumer lending, and wealth-related services. In June 2024, UnionBank announced a leadership transition in which Edwin Bautista would leave the president and chief executive role and Ana Maria Aboitiz Delgado would succeed him beginning January 1, 2025. The transition reflected the continuing connection between the bank and the Aboitiz group while preserving its focus on universal banking, digital delivery, consumer growth, and financial technology.

2025
Ana Maria Delgado becomes president and CEO
[11]UnionBank appointment of Ana Maria Delgado as President and CEOunionbankph.com
Ana Maria A. Delgado succeeded Edwin Bautista as president and CEO effective January 1, 2025.
2024
Completion of Citi account migration
[11]UnionBank appointment of Ana Maria Delgado as President and CEOunionbankph.com
UnionBank reported completing the migration of Citi customer accounts to its own platforms on March 25, 2024.
2022
UnionDigital Bank begins operations
[1]UnionBank (Philippines)en.wikipedia.org
UnionDigital Bank received authority to operate and began operations as a separately licensed digital bank affiliated with UnionBank.
2022
Citi consumer-business acquisition closes
[9]Citi completes sale of Philippines consumer business to UnionBankcitigroup.com
The acquisition of Citi’s Philippine consumer business closed on August 1, 2022.
2021
Agreement to acquire Citi Philippines consumer banking
[8]UnionBank announcement of Citi consumer-business acquisitionunionbankph.com
UnionBank announced an agreement to acquire Citigroup’s Philippine consumer banking business.
2016
Digital-transformation program accelerates
[12]UnionBank digital-transformation and EON materialunionbankph.com
UnionBank began a major digital-transformation journey focused on customer experience, financial inclusion, digital channels, and technology-enabled banking.
2013
Acquisition of City Savings Bank
[14]Acquisition of City Savings Bankunionbankph.com
UnionBank acquired City Savings Bank, adding a thrift-bank platform focused on mass-market and teacher-related lending.
2006
Acquisition of International Exchange Bank
[2]UnionBank Philippine Stock Exchange Company Informationedge.pse.com.ph
UnionBank acquired International Exchange Bank, or iBank, further increasing its scale among Philippine universal banks.
1994
Merger with International Corporate Bank
[2]UnionBank Philippine Stock Exchange Company Informationedge.pse.com.ph
UnionBank expanded through a merger with International Corporate Bank, also known as InterBank.
1992
Universal banking license and stock-market listing
[3]UnionBank Investor Relations Frequently Asked Questionsunionbankph.com
UnionBank received a universal banking license in July 1992 and its common shares were listed on the Philippine Stock Exchange on June 29, 1992.
1968
Incorporation as Union Savings and Mortgage Bank
[2]UnionBank Philippine Stock Exchange Company Informationedge.pse.com.ph
The institution was incorporated in the Philippines on August 16, 1968, as Union Savings and Mortgage Bank.

Products and positioning

A technology-forward Philippine universal bank that combines the scale and product breadth of a full-service lender with digital banking, financial inclusion, payments, consumer finance, and fintech capabilities.

Consumer banking
Retail banking
UnionBank’s retail business includes savings and deposit accounts, current accounts, domestic payment services, remittances, online and mobile banking, debit and credit cards, and everyday transaction services. The bank combines branch-based service with digital onboarding and app-based account access.
Consumer lending
Consumer finance and credit cards
The consumer-finance portfolio includes credit cards, personal and unsecured loans, home finance, auto loans, and other retail-credit products. The acquisition of Citi’s Philippine consumer business significantly expanded UnionBank’s card, lending, deposit, and wealth relationships.
Institutional banking
Corporate and commercial banking
UnionBank provides lending, deposits, cash management, trade services, payments, treasury, foreign-exchange, and relationship-banking services to corporations, commercial enterprises, institutions, and government-related customers.
Business banking
SME banking
SME services address the financing, payments, collections, deposits, and digital operating needs of small and medium-sized businesses. UnionBank has positioned technology, ecosystem partnerships, and simplified digital processes as tools for improving access to formal finance for entrepreneurs.
Digital banking
EON
EON was UnionBank’s digitally oriented banking platform and a prominent part of its digital-transformation program. It promoted mobile access, digital identity verification, self-service banking, and products designed for digitally active consumers, freelancers, merchants, and online workers.
Digital banking · 2022
UnionDigital Bank
UnionDigital Bank is the group’s separately licensed digital-bank affiliate. It was authorized to operate in July 2022 and was designed to extend digital financial services, inclusion, savings, lending, payments, and ecosystem-based banking beyond the traditional branch network.
Thrift banking · 2013
CitySavings
CitySavings is UnionBank’s thrift-bank subsidiary. It has historically focused on mass-market lending, teacher loans, payroll-linked credit, and other consumer-oriented products, giving UnionBank access to customer segments that may be less well served by conventional universal-bank offerings.
Financial technology
UBX platforms
UBX Philippines develops and supports financial-technology and platform businesses connected with payments, embedded finance, open banking, data, and ecosystem services. The unit reflects UnionBank’s strategy of participating in technology markets beyond the conventional bank branch and account model.
Wealth management
Trust and wealth management
UnionBank offers trust, investment, wealth-management, and related advisory services to affluent individuals, institutions, and corporate customers. The acquisition of Citi’s consumer operations strengthened the bank’s presence in investment and wealth-related retail services.

Marketing campaigns

2020GoBeyond Communities
Philippines
GoBeyond Communities is UnionBank’s flagship corporate-social-responsibility and employee-engagement program, connecting the bank’s stated purpose of reimagining banking to community development and social-impact activities.
Outcome. The program became a continuing framework for community engagement, employee participation, and financial-inclusion-related initiatives.
Source
2019Open banking and digital innovation initiatives
Philippines
UnionBank promoted open-banking, API management, chatbot, digital customer-experience, and lifestyle-banking initiatives through its innovation and retail-banking programs.
Outcome. The initiatives reinforced the bank’s technology-forward identity and were recognized through multiple digital-banking, customer-experience, and open-banking awards.
Source
2017EON Digital Me
Philippines
UnionBank promoted EON as a digital-first banking experience for digitally active customers. The campaign highlighted selfie-based identity verification, mobile account access, online payments, and a broader concept of banking designed around the customer’s digital lifestyle.
Outcome. The campaign helped establish EON as a visible symbol of UnionBank’s digital-transformation strategy and supported the bank’s positioning as an early Philippine adopter of mobile-first and neo-banking features.
Source

Brand decisions

2025
Leadership succession after digital and retail expansionStrategy
Background
Following the digital-transformation period and completion of the Citi integration, UnionBank implemented a planned transition in executive leadership.
Action taken
Ana Maria A. Delgado became president and CEO effective January 1, 2025, succeeding Edwin R. Bautista.
Aftermath
The transition preserved continuity in the bank’s digital and retail strategy while placing a long-serving consumer, customer-experience, and digital-banking executive at the helm.
Source
2024
Complete Citi customer migrationStrategy
Background
The Citi acquisition required the transfer of customer accounts, products, servicing processes, and technology systems to UnionBank platforms.
Action taken
UnionBank completed the migration of acquired Citi accounts on March 25, 2024.
Aftermath
The bank completed a major operational-integration milestone and moved the acquired consumer franchise onto its own technology and service infrastructure.
Source
2022
Launch UnionDigital BankProduct launch
Background
The Philippine central bank created a regulatory framework for digital banks and UnionBank sought a separately licensed platform for digital financial services.
Action taken
UnionDigital Bank received its certificate of authority and began operations in July 2022.
Aftermath
The group gained a dedicated digital-bank vehicle while continuing to operate UnionBank as a full-service universal bank.
Source
2021
Acquire Citigroup’s Philippine consumer banking businessM&A
Background
Citigroup announced its intention to exit consumer banking in several markets, including the Philippines. UnionBank pursued the opportunity to accelerate its retail-banking strategy.
Action taken
UnionBank agreed to acquire Citi’s Philippine consumer deposits, credit cards, unsecured lending, investments, wealth-management activities, insurance brokerage interests, branches, wealth centers, selected real estate, and related employees.
Aftermath
The transaction closed on August 1, 2022, materially expanding UnionBank’s retail franchise. The acquired customer accounts were migrated to UnionBank platforms by March 25, 2024.
Reported transaction value. Approximately US$1.3 billion (2022 closing)
- Citigroup — Citi described the sale as part of its strategy to exit consumer banking in selected markets and completed the transaction in August 2022.
Source
2013
Acquire City Savings BankM&A
Background
UnionBank sought to strengthen consumer-oriented banking and reach customers served through thrift-bank and payroll-linked lending channels.
Action taken
UnionBank acquired City Savings Bank and made it a wholly owned subsidiary.
Aftermath
CitySavings expanded the group’s mass-market, teacher-loan, and community-lending capabilities.
Source
1992
Convert into a universal bankStrategy
Background
The institution sought to expand beyond savings and mortgage banking into a broader full-service banking model.
Action taken
UnionBank obtained a universal banking license and adopted the Union Bank of the Philippines name.
Aftermath
The license enabled expansion into corporate banking, capital markets, consumer finance, trust, treasury, and other activities associated with universal banking.
Source

Recent events

Unconfirmed
Reported2022.01.21
Union Bank and SLT-MOBITEL mCash partner on agent banking[16]Union Bank与SLT-MOBITEL mCash合作提供代理银行服务island.lk
Union Bank entered into an agreement with SLT-MOBITEL to offer its agent banking services through the SLT-MOBITEL mCash authorized retailer network in Sri Lanka.
2022.01.16
Reported2022.01.15
UnionBank partners with Lazada and Shopee[17]UnionBank与Lazada和Shopee达成合作philstar.com
UnionBank partnered with Lazada and Shopee so UnionBank clients can directly cash in their e-wallets for online shopping and receive discounts and added benefits on top-up transactions.
2021.12.23
Reported2021.12.24
Titan Trust agrees to acquire 89.39% of Union Bank[18]Titan Trust同意收购Union Bank 89.39%的股权thetidenewsonline.com
Union Bank announced that Union Global Partners and certain other shareholders had executed a share sale and purchase agreement to sell an aggregate 89.39% of the bank’s issued share capital to Titan Trust Bank. Completion is subject to applicable regulatory approvals and other conditions.
2021.11.04
Reported2021.11.04
LiveMD and Union Bank announce telehealth partnership[19]LiveMD与Union Bank宣布远程医疗合作guardian.ng
LiveMD announced a partnership with Union Bank to provide the bank’s customers with access to telehealth services, including medical consultations, diagnostic tests, and delivery of prescribed drugs.
2021.10.03
Reported2021.10.03
Talkative Parents users gain bank-backed school-fee payment plans[20]Talkative Parents 用户可使用银行支持的学费分期计划menafn.com
Yara Technologies' Talkative Parents platform users can use Easy Payment Plans when paying school fees with credit cards from 10 partner banks.
2021.03.25
Reported2021.04.10
UnionBank wins seven Philippine Quill Awards[21]UnionBank获得七项菲律宾Quill奖manilatimes.net
Union Bank of the Philippines (UnionBank) received seven awards for its internal and external communication programs and projects at the 18th Philippine Quill Awards ceremony held on March 25.
2020.12.21
Union Bank announces CEO Emeka Emuwa’s planned retirement[22]Union Bank宣布首席执行官Emeka Emuwa计划退休thisdaylive.com
Union Bank announced that CEO Emeka Emuwa would retire on March 31, 2021, after leading the institution for eight years.
2020.06.18
Reported2020.06.18
Union Bank commits $10 million to Community Recovery Program[23]Union Bank 承诺向社区复兴计划投入 1,000 万美元prnewswire.com
Union Bank committed $10 million to launch a Community Recovery Program focused on economic stability, including access to capital, entrepreneurship, job retention and retraining.
2020.06.04
Reported2020.06.04
UnionBank extends online transfer fee waiver[24]UnionBank 延长线上转账手续费豁免sunstar.com.ph
Union Bank of the Philippines extended the waiver of online InstaPay transfer fees via the UnionBank Online app until June 15.
2020.06.04
Reported2020.06.04
UnionBank rolls out digital banking education series[24]UnionBank 延长线上转账手续费豁免sunstar.com.ph
UnionBank rolled out “UnionBank Talks Digital,” a series of talks and educational sessions featuring banking industry leaders to help customers learn about the benefits of digital banking.

Sources26 sources

Cite this profile: Cite the canonical profile. /brand-wiki/unionbank · Editorial policy · How profiles are compiled