UnionBank integrating UnionDigital, UBX amid 53% profit surge
‘By integrating UnionDigital and UBX with UnionBank, we are strengthening our digital proposition, creating greater efficiencies, and accelerating our ability to serve more Filipinos at scale.’
Union Bank of the Philippines will integrate its digital banking subsidiary, UnionDigital Bank, and fintech unit UBX into the parent bank, as it seeks to streamline operations and strengthen its digital banking business following a 53 percent jump in nine-month net income to P9.9 billion.
In a recent disclosure to the local bourse, the bank said its board approved the planned integration, which remains subject to approval by the Bangko Sentral ng Pilipinas (BSP) and other regulatory authorities.
The move is part of UnionBank’s strategy to focus on its core businesses, improve operational efficiency, and strengthen its next-generation banking services.
“By integrating UnionDigital and UBX with UnionBank, we are strengthening our digital proposition, creating greater efficiencies, and accelerating our ability to serve more Filipinos at scale. Customers will continue to enjoy a digital-first banking experience while gaining access to the broader products, digital capabilities, and financial solutions that UnionBank provides,” UnionBank president and CEO Ana Aboitiz Delgado said.
“During the transition process, we are committed to ensuring the least amount of disruption for our customers,” Delgado added.
UnionDigital customers can continue using their accounts, deposits, loans, mobile app, and other services without interruption while preparations for the integration are underway. UnionBank added that customers of both UnionDigital and UBX would receive updates throughout the transition and advance notice of any changes.
The planned integration comes as UnionBank reported net income of P9.9 billion in the first nine months of 2026, up 53 percent from the same period last year. The group also sustained its performance quarter on quarter.
Net revenues rose 8 percent year on year to P65.5 billion, driven by wider margins and income from everyday banking transactions. Its retail customer base exceeded 19.5 million.
Consumer loans accounted for 62 percent of the bank’s total loan portfolio, nearly three times the industry average.