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Union Bank profit up 19%

Aboitiz-led Union Bank of the Philippines grew its 2013 net profit by 19 percent to P9.02 billion as the bank boosted its lending portfolio, reduced reliance on the treasury business and gained from the acquisition of thrift bank City Savings.

Posted: January 26th, 2014 in Headlines | Read More »

Union Bank to retire P3.75B debt notes

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unionbank

Aboitiz-led Union Bank of the Philippines is set to retire P3.75-billion worth of debt notes previously qualifying as supplementary or tier 2 capital under the expiring Basel 2 capital adequacy framework.

Posted: November 26th, 2013 in Latest Business Stories | Read More »

UBP issues P5B in deposit certificates

Aboitiz-led Union Bank of the Philippines on Monday debuted on the long-term negotiable certificate of deposits (LTNCD) market with an offering of as much as P5 billion, taking advantage of the liquid financial market to secure long-term funding.

Posted: September 30th, 2013 in Headlines | Read More »

Union Bank raising P5B from high-yielding deposit offer

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union-bank

Aboitiz-led Union Bank of the Philippines debuted into the long-term negotiable certificate of deposits (LTNCD) market on Monday with an offering of as much as P5 billion, taking advantage of the liquid local financial market to boost long-term funding.

Posted: September 30th, 2013 in Latest Business Stories | Read More »

SSS net revenue up 16% in H1

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The Social Security System registered a double-digit growth in its net revenue in the first semester of the year, which was attributed by officials of the pension fund to measures boosting members’ contributions.

Posted: September 24th, 2013 in Headlines | Read More »

Union Bank H1 net jumps by 52%

Union Bank of the Philippines posted a 52-percent year-on-year profit growth in the first semester to P6.2 billion on robust trading gains coupled with the expansion in net interest and fee-based earnings.

Posted: July 28th, 2013 in Headlines | Read More »

Union Bank finalizes takeover of Cebu thrift bank

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citysavings blogo

Aboitiz-led Union Bank of the Philippines has obtained board approval to take over 99.54 percent of 32-branch Cebu-based thrift bank City Savings Bank (CitySavings) for P5.7 billion.

Posted: February 7th, 2013 in Latest Business Stories | Read More »

Union Bank taking over CitySavings Bank

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union-bank

MANILA, Philippines—Union Bank of the Philippines is set to buy 32-branch thrift bank City Savings Bank, marking a consolidation of the banking interests of the Aboitiz group.   In a joint statement, Union Bank and parent conglomerate Aboitiz Equity Ventures announced the acquisition by the former of 99.54 percent of CitySavings for about P5.7 billion. [...]

Posted: January 9th, 2013 in Latest Business Stories | Read More »

Union Bank net profit up 17% to P6.3B in 9 months

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Aboitiz-led Union Bank of the Philippines grew its January-to-September net profit by 16.8 percent to P6.31 billion year-on-year on higher interest earnings and trading gains early in the year.

Posted: October 27th, 2012 in Headlines | Read More »

Biz Buzz: Solomonic decision

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What’s a government to do when faced with two competing, similar proposals for a big-ticket infrastructure project?

Posted: May 28th, 2012 in Headlines | Read More »

Union Bank sees net profit growing 10-15% this year

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Aboitiz-led Union Bank of the Philippines aims to grow its net profit by 10-15 percent this year from the record-high bottom line last year alongside efforts to expand the company’s lending activities.

Posted: April 9th, 2012 in Headlines | Read More »

Biz Buzz: Mining debate, part 2?

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The mining forum jointly organized by Financial Executives Institute of the Philippines (Finex), Management Association of the Philippines (MAP) and Philippine Chamber of Commerce and Industry (PCCI) last Friday was a certified blockbuster. Hotel Intercon’s grand ballroom was filled to capacity as about 600 people—double the 250-300 originally expected by organizers—came to witness the equal passion by which pro- and anti-mining advocates argued their case ahead of the issuance of an executive order/mining policy framework under P-Noy’s regime.

Posted: March 5th, 2012 in Headlines | Read More »

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