Union Bank of the Philippines, Inc., more commonly known as UnionBank, is one of the universal banks in the Philippines and the ninth largest bank in the country by assets.[3]
UnionBank is a joint consortium among the Aboitiz Group, Insular Life, and the Social Security System. It started operations in 1981 and became a commercial bank on January 19, 1982. In July 1992, UnionBank was granted the license to operate as a universal bank.
History
Founding
The bank was originally incorporated as “Union Savings and Mortgage Bank” on August 16, 1968. After the initial public offering the bank's shares were listed at the Philippine Stock Exchange (PSE) on June 29, 1992.