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UnionBank of the Philippines announced on Friday that it will integrate its digital banking subsidiary, UnionDigital Bank, and fintech unit UBX into the parent bank. The move is intended to streamline operations and strengthen the bank’s digital banking services following a 53 percent increase in nine‑month net income to PHP 9.9 billion. The integration plan was approved by UnionBank’s board and is subject to approval by the Bangko Sentral ng Pilipinas and other regulatory authorities. UnionBank said the consolidation is part of a broader strategy to focus on core businesses, improve operational efficiency and accelerate the delivery of next‑generation banking services. “We are strengthening our digital proposition, creating greater efficiencies, and accelerating our ability to serve more Filipinos at scale,” said UnionBank President and CEO Ana Aboitiz Delgado. “Customers will continue to enjoy a digital‑first banking experience while gaining access to the broader products, digital capabilities, and financial solutions that UnionBank provides.” Delgado added that the transition would be managed to minimize disruption for customers. UnionDigital customers will be able to use their accounts, deposits, loans, mobile app and other services without interruption, and the bank will provide updates and advance notice of any changes. UnionBank’s financial performance for the first nine months of 2026 was highlighted in the announcement. Net income rose 53 percent from the same period last year to PHP 9.9 billion. Net revenues increased 8 percent year‑on‑year to PHP 65.5 billion, driven by wider margins and income from everyday banking transactions. The bank’s retail customer base exceeded 19.5 million. Consumer loans accounted for 62 percent of the total loan portfolio, nearly three times the industry average. Net interest income grew 9 percent to PHP 51.9 billion, supported by a 34‑basis‑point increase in net interest margin to 6.9 percent, described by the bank as among the industry’s highest. The improvement was largely attributed to a 5 percent year‑on‑year increase in current and savings account deposits. Operating expenses reached PHP 37.4 billion at the end of the third quarter, growing more slowly than revenues as the bank managed costs and improved processes. Chief Financial Officer Manuel R. Lozano said the first‑nine‑month performance gives the bank momentum to deliver a better full‑year result than last year, even under more difficult market conditions. He added that the bank is building reserves to strengthen its balance sheet and support growth amid increasing credit pressures, while aligning organizational capabilities, optimizing capital deployment, and rationalizing businesses to create sustainable long‑term value. Article source: The Daily Tribune | Image credit: The Daily Tribune
UnionBank of the Philippines announced on Friday that it will integrate its digital banking subsidiary, UnionDigital Bank, and fintech unit UBX into the parent bank. The move is intended to streamline operations and strengthen the bank’s digital banking services following a 53 percent increase in nine‑month net income to PHP 9.9 billion. The integration plan was approved by UnionBank’s board and is subject to approval by the Bangko Sentral ng Pilipinas and other regulatory authorities. UnionBank said the consolidation is part of a broader strategy to focus on core businesses, improve operational efficiency and accelerate the delivery of next‑generation banking services. “We are strengthening our digital proposition, creating greater efficiencies, and accelerating our ability to serve more Filipinos at scale,” said UnionBank President and CEO Ana Aboitiz Delgado. “Customers will continue to enjoy a digital‑first banking experience while gaining access to the broader products, digital capabilities, and financial solutions that UnionBank provides.” Delgado added that the transition would be managed to minimize disruption for customers. UnionDigital customers will be able to use their accounts, deposits, loans, mobile app and other services without interruption, and the bank will provide updates and advance notice of any changes. UnionBank’s financial performance for the first nine months of 2026 was highlighted in the announcement. Net income rose 53 percent from the same period last year to PHP 9.9 billion. Net revenues increased 8 percent year‑on‑year to PHP 65.5 billion, driven by wider margins and income from everyday banking transactions. The bank’s retail customer base exceeded 19.5 million. Consumer loans accounted for 62 percent of the total loan portfolio, nearly three times the industry average. Net interest income grew 9 percent to PHP 51.9 billion, supported by a 34‑basis‑point increase in net interest margin to 6.9 percent, described by the bank as among the industry’s highest. The improvement was largely attributed to a 5 percent year‑on‑year increase in current and savings account deposits. Operating expenses reached PHP 37.4 billion at the end of the third quarter, growing more slowly than revenues as the bank managed costs and improved processes. Chief Financial Officer Manuel R. Lozano said the first‑nine‑month performance gives the bank momentum to deliver a better full‑year result than last year, even under more difficult market conditions. He added that the bank is building reserves to strengthen its balance sheet and support growth amid increasing credit pressures, while aligning organizational capabilities, optimizing capital deployment, and rationalizing businesses to create sustainable long‑term value.
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