UnionBank named Best Investor Relations Firm

UnionBank named Best Investor Relations Firm | Daily Tribune

Union Bank of the Philippines (UnionBank) of the Aboitiz Group has been named the best investor relations company at the Corporate Governance Asia’s 14th Asian Excellence Awards in Hong Kong.

“We are honored by this recognition of UnionBank’s commitment to maintaining the highest standards of financial reporting and corporate governance,” UnionBank chief financial officer (CFO) Manuel Lozano said.

The award highlighted the excellent leadership of Lozano who was also hailed as Asia’s Best CFO and Carlo Eñanosa who was recognized as the Best Investor Relations Professional.

Eñanosa has been managing the bank’s planning and investor relations for seven years, while Lozano has been leading the finance team for over a year.

“These accolades are for people who possess strong leadership in guiding the company in growing the business, and at the same time uphold the highest ethics in business practices,” Corporate Governance Asia said.

“We are honoring the companies and business professionals who are recognized by their peers, investors, and academics for his/her outstanding leadership and contributions in a public or a private company,” it added.

Corporate Governance Asia is a publication read by at least 9,000 executives from Asia’s major public companies, regulators, institutional investors, fund managers, lawyers, accountants and academicians.

UnionBank has expanded to UnionDigital Bank, its digital arm, and UBX, its fintech and open finance platform.

Through these groups, UnionBank was able to reach more customers beyond its physical branches and test new digital products and services.

UnionBank posted a net income of P2 billion in the first quarter of 2024, following several deals with other companies.

These include Citi, which transferred its credit card business to UnionBank, and motorcycle taxi provider Angkas, which helps drivers access loans so they can put up their businesses.

UnionBank said it consistently expanded its client base to 14 million or 2 million new clients annually since 2019, driving growth in consumer loans last year by 33 percent on compounded annual growth rate.

Last month, the bank raised P10 billion from its stock rights offering of common shares. UnionBank said proceeds from the stock sale will be used for strategic growth initiatives.