Philippine banks’ bad loan ratio deteriorated to 3.37 percent as of end-April 2026, marking an eight-month high, likely due to the delayed impact of elevated borrowing rates on borrowers. The latest Bangko Sentral ng Pilipinas (BSP) data showed that the banking industry’s gross non-performing...
The Bangko Sentral ng Pilipinas (BSP) is facing a delicate balancing act as foreign and local lenders price in a minimum five percent benchmark interest rate by the end of 2026. Economists said that mounting stagflationary pressures and the potential de-escalation of geopolitical conflicts in the...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. has urged banks to continue strengthening governance, transparency, and internal controls, saying these safeguards become most critical during periods of economic and financial uncertainty. Speaking during the inaugural Corporate...
Union Bank of the Philippines (UnionBank) and ATRAM Group (ATRAM) have appointed Deanno J. Basas as President of UnionBank Investment Management and Trust Corporation (UBIMTC) prior to its merger into ATR Asset Management, Inc. (AAMI). The bank said in a disclosure to the Philippine Stock Exchange...
Union Bank of the Philippines and the ATRAM Group have finalized their partnership, aiming to revolutionize the Philippine asset management landscape by merging their trust operations and leveraging digital innovation. Under the agreement, UnionBank will acquire a 27.5 percent stake in ATR Asset...
Unionbank Chief Financial Officer Manuel R. Lozano Aboitiz-led Unionbank of the Philippines is optimistic of surpassing its earnings last year, even after reporting a 30 percent drop in net income to ₱1.4 billion in the first quarter of 2025 from the ₱2 billion earned in the same period last...
Debt watcher Moody’s Ratings has downgraded Union Bank of the Philippines’ (UnionBank) credit ratings, citing deteriorating asset quality following rapid growth in retail lending and rising problem loan ratios. In its latest rating action issued on Monday night, April 21, Moody’s cut the...
In its pursuit of delivering a premium wealth client experience, UnionBank has revealed the newly enhanced Wealth Management Center at The Ark in Makati. Unveiled during a media preview on February 20, 2025, the new upscale facility features the Elite Gold Lounge and The Vault, offering top-tier...
WELCOMING THE ARK From left: UnionBank wealth and brokerage head Therese Chan, UnionBank president Ana Aboitiz-Delgado, UnionBank chief marketing and experience officer Albert Cuadrante, and UnionBank senior vice-president James Ileto UnionBank and their private banking and wealth management...
From left: UnionBank Head of Consumer Banking, Manoj Varma; UnionBank Head of Card and Loans, Mukul Sukhani; Mercury Drug President, Vivian Que-Azcona; Mercury Drug Assistant to the President, Steve Azcona. UnionBank of the Philippines, in partnership with Mercury Drug, one of the nation’s major...
Aboitiz-led Union Bank of the Philippines (UnionBank) registered a six percent hike in net income to P8.6 billion for the first nine months of 2024 from P8.1 billion in the same period last year. In a disclosure to the Philippine Stock Exchange (PSE), the bank said that for the third quarter...
UnionBank and Mercury Drug launched the new UnionBank Mercury Credit Card — a one-of-a-kind credit card designed to reward consumers for prioritizing their health and wellness. The card was unveiled at an exclusive event last October 18, 2024 at Grand Hyatt Hotel....
