Union Bank of the Philippines Infusing Additional P1.6 Billion in UnionDigital

The Board of Directors of Union Bank of the Philippines, at its meeting held on September 23, 2024, approved the infusion of additional capital of up to P1.6 Billion in UnionDigital Bank Inc. to support UnionDigital's ongoing business operations and allow it to deliver sustainable growth, subject to the applicable regulatory approvals.

​UnionDigital Bank Inc. is one of the BSP-licensed digital banks in the Philippines and the digital bank subsidiary of Union Bank of the Philippines, is one of the fastest digital banks in the world to achieve profitability.

UnionDigital recently won “Best Digital-Only Bank” in The Asian Banker Awards 2023 and is one of the only two digital banks from the Philippines listed in the Global Top 100 Digital-Only Bank Ranking 2023.

Union Bank of the Philippines (UnionBank) has always been among the first to embrace technological innovations to empower its customers. Undoubtedly the Philippines' pioneer in digital banking, UnionBank is committed to be the region's digital trailblazer and aspires to be a Great Retail Bank to best serve the growing needs of Filipinos everywhere.

It has consistently been recognized as of one of Asia’s leading companies, ranking among the country’s top universal banks in terms of profitability and efficiency.

​Over the years, UnionBank has garnered a record-breaking number of awards and recognition including the most recent "Marketing Company of the Year" at the 42nd Agora Awards; "Asia Trailblazer Institution of the Year" from Retail Banker International; "Best Retail Bank in Southeast Asia 2023" from Capital Finance International; 6-Time "Digital Bank of the Year (2018-2023)" from The Asset Triple A; "Most Recommended Bank in the Philippines 2023" and 4-time "Best Retail Bank in the Philippines" from The Asian Banker; "40 Years of Excellence in Retail Banking Philippines 2023" from Global Banking and Finance; "Best Bank in the Philippines" from Euromoney Real Estate Awards 2023; "Best Private Bank, Philippines 2023" from The Digital Banker; "Best Digital Bank in Southeast Asia 2022" from Capital Finance International; back-to-back "Best Bank for Customer Experience in Southeast Asia" from Global Brands Magazine; "Best Bank Transformation in South East Asia 2021" from Global Banking and Finance; "Most Recommended Retail Bank in Asia Pacific 2021" from BankQuality.com; "Fastest Growing Fintech Company, South East Asia 2021" for UBX from Global Banking and Finance; "Best Bank for ESG 2022" from Asiamoney; backto-back "Best Bank for SMEs" (2020-2021) from Asiamoney; "SME Bank of the Year - Philippines 2021" from Asian Banking and Finance; back-to-back "#1 Best Service Domestic Bank in the Philippines 2020-2021" at the Asiamoney Cash Management Survey; “Asia’s Best Bank Transformation” from Euromoney; "Asia-Pacific Retail Bank of the Year" from Retail Banker International; "Top 2 Most Helpful Banks in Asia Pacific during COVID-19" from BankQuality.com; 3-time "Best Digital Bank Philippines" from Asiamoney and International Finance Magazine; and "Employer of the Year" awards from Stevie Awards for Great Employers, Asian Banking and Finance, and HR Asia.

UnionBank is determined to be an enabler of the Philippines’ bid to be a G20 country by 2050. Itstands firm in its promise to power the future of banking while co-creating innovations for a better world.