Noticias de dinero

Citi acquisition weighs on UnionBank income

UNION Bank of the Philippines (UnionBank) on Monday reported netting P9.2 billion last year, down 27.6 percent from 2022’s P12.7 billion given continued costs arising from its acquisition of Citi’s consumer business in the Philippines. “Topline revenues posted robust growth driven by a strong consumer business, higher margins, and customer transaction fees,” it said in

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Noticias de dinero

UnionBank growth to slow – Maybank

ABOITIZ-LED Union Bank of the Philippines (UnionBank) could deliver more moderate growth next year due to high funding costs and slower lending expansion, Maybank Investment Banking Group said. In a report, Maybank said it expected UnionBank, the ninth-ranked bank in the country in terms of assets, to generate a “significantly slower” net interest income growth

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Noticias de dinero

UnionBank raises P18.2B via dual-tranche offering

ABOITIZ-LED Union Bank of the Philippines (UnionBank) said Monday that it had successfully raised P18.168 billion from a dual-tranche offering of Philippine peso-denominated fixed-rate bonds. The 1.5-year senior fixed rate Series F bonds due 2025 and three-year senior fixed rate Series G bonds due 2026 raised a total of around P10.34 billion and P7.83 billion,

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Noticias de dinero

UnionBank to inject P1.8B into digital unit

ABOITIZ-LED Union Bank of the Philippines (UnionBank) said Tuesday it was planning to infuse additional capital of up to P1.8 billion in its digital banking subsidiary, UnionDigital Bank Inc. In a filing with the stock exchange, UnionBank said its board of directors, in a meeting last Friday, had greenlit the capital infusion to boost the

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Noticias de dinero

UnionBank net income declines 20%

UNION Bank of the Philippines (UnionBank) saw its consolidated net income for the first nine months of 2023 fall by 20 percent to P8.1 billion from last year’s P10.13 billion due to higher expenses. “Costs were higher in the third quarter mainly due to integration and other costs that are nonrecurring. The integration costs increased

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Noticias de dinero

UnionBank completes upsizing of bond offer

ABOITIZ-LED Union Bank of the Philippines (UnionBank) said on Thursday that it had increased the amount of its peso-denominated bond program to P50 billion from the original P39 billion approved in 2019. In a filing with the stock exchange, UnionBank said the update was completed the day before, noting that the increase was approved by

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Noticias de dinero

BSP grants full VASP license to UnionBank

UNION Bank of the Philippines (UnionBank) on Tuesday said it had been given the go signal by the Bangko Sentral ng Pilipinas to operate as a virtual asset service provider (VASP), making it the first and only universal bank in the country to offer such. The full VASP license means the bank can now extend

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Noticias de dinero

UnionBank, JobStreet partner to aid MSMEs

UNION Bank of the Philippines (UnionBank), through its digital platform GlobalLinker, has teamed up with online employment marketplace JobStreet to provide more growth opportunities for Filipino entrepreneurs. “UnionBank and JobStreet signed a memorandum of agreement for the partnership wherein UnionBank GlobalLinker members can exclusively avail of two job postings for free on JobStreet,” the bank

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