UnionBank started as Union Savings and Mortgage Bank then changed its name to UnionBank of the Philippines 1981. its incorporators were 3 Top Companies, the Aboitiz Equity Ventures, Inc., the Social Security System and the Insular Life Assurance Company. In 1982, UnionBank acquires its commercial License. In 1992, Bangko Sentral ng Pilipinas granted universal banking license to UnionBank and was listed in the Philippine Stock Exchange under the stock symbol UBP. UnionBank acquired the International Corporate Bank (Interbank) in 1994. On June 5, 2006, The International Exchange Bank (iBank) 98.84% stock was purchased by Union Bank, with the acquisition, UnionBank became the 7th largest private domestic commercial bank.
UnionBank of the Philippines
Meralco Avenue Corner Onyx and Sapphire Roads,
Ortigas Center, Pasig City 1605, Philippines
Description of Company
UnionBank is a universal bank in the Philippines that provides a wide range of commercial, retail and corporate banking products and services. Products and services include loan and deposit products, cash management services, trust banking services, consumer finance, treasury activities and electronic banking.
In 2002 & 2003 UnionBank was recognized as among Asia's best companies by Euromoney and Finance Asia. In 2004, The bank won the Excellence in Credit Card Management Award It is also the first to make it to the list of the world's 25 soundest banks for four consecutive years by the Banker of London. It also won the Excellence in Credit Card Management Award in 2004. The bank is also listed in the Philippine Stock Exchange. As of December 20, 2010, UnionBank has a total market capitalization of Php37.8 billion and share price is Php59.00.