Union Bank of the Philippines (UBP) was incorporated on August 16, 1968 originally known as Union Savings and Mortgage Bank and operates as a universal bank through its universal banking license acquired in July 1992. The Company has undertaken two bank mergers, first with International Corporate Bank in 1994 and then with International Exchange Bank in 2006.
UBP offers a broad range of products and services, which include deposit and related services; corporate and middle market lending; consumer finance loans such as mortgage, auto loans and credit card; investment, treasury and capital market; trust and fund management; wealth management; remittance; cash management and electronic banking; and bancassurance.
On January 27, 2017, UBP and its subsidiary City Savings Bank, Inc. (CSBI) entered into a bancassurance partnership with Insular Life Assurance Company, Ltd.
Apart from CSBI, UBP’s other active subsidiaries include Union Properties, Inc.; First Union Direct Corporation; First Union Plans, Inc.; First Union Insurance and Financial Agencies, Inc.; and First Agro-Industrial Rural Bank, Inc.
As of December 31, 2018, UBP has 433 branches and 389 automated teller machines nationwide.