UnionBank Storms Canada

Reiterates Corporate Vision,

Achievements Before Fil-Can Leaders

by ALEX P. VIDAL

Richmond, British Columbia — Executives of the Union Bank of the Philippines led by President and Chief Operating Officer Victor B. Valdepenas and Executive Vice President Genaro V. Lapez flexed their corporate muscles before leaders of the Filipino-Canadian community in British Columbia in a conference at the River Rock Hotel last January 10 even as they reiterated the bank’s corporate vision and achievements in information technology.

As “enabler of the customers investment needs in the Philippines,” the bank is prepared to assist on entrepreneurship opportunities, financial advise, and safe and reliable payments for beneficiaries or Philippine companies and organizations, said Lapez.

As seventh larget private domestic universal bank in the Philippines, Lapez disclosed that UnionBank has assets of P253 billion, deposits of P192 billion, and capital of P36 billion.

“We provide a wide range of commercial, retail and corporate banking products and services, including loan and deposit products, cash management services, credit and debit cards, treasury activities, and electronic banking,” Lapez explained.

SHAREHOLDERS

He revealed Aboitiz Equity Ventures or Aboitiz, is the major shareholders among owner stake-holders with 43.3 percent shareholdings as of Sept. 2011. Aboitiz is one of the largest conglomerates with interests in power generation and distribution, banking and finance, transportation and food, Lapez disclosed.

The Social Security System (SSS) follows 8with 21.5 percent shareholdings as of September 2011. The state agency manages the pension/social security fund of workers in private sector, wage earners as well as the self-employed.

Lapez said Insular Life Assurance Company is third largest shareholder with 16.1 percent shareholdings as of September 2011. It is the Philippines’ leading and largest Filipino life insurance company with asset base of P72 billion as of 2010, he added.

“Our diversified customer base allows us to tap into different growth segments and to cross-sell across each segment,” Lapez stressed.

INNOVATION

Valdepenas, who assured their customers they will continue to push for product innovation in cash management, debit and credit cards, business and trust banking businesses “to strengthen foothold in all market areas and gain competitve edge”. He emphasized they were the first Philippine bank to achieve the ISO 2700:2005 Information Security Management System (ISMS) Certification from TUV Rheinland.

The bank’s Technology Management Services (TMS) Unit is the first Information Technology Group among local banks in the Philippines to obtain certification for its specific ISO standard, boasted Valdepenas.

“We will intensify efforts in the management and disposal of our non-performing assets,” and the cost management will focus on technological advancements and business process improvements through six sigma initiatives.”

CERTIFICATIONS

Valdepenas vowed to continue to obtain ISO certifications in the different processes across all business segments. “Risk management in all processes must be enhanced continue to engage more of our customers and employees, and ensure that every UnionBanker internalizes and lives our UnionBank brand of smart banking.”

He added: “Our bank’s corporate vision is to become one of the top three universal banks in the Philippines, with a full range of financial products and services for which we shall be the acknowledged leader in service, innovation, value-for-money, conveniently accessed anytime, anywhere by delighted customers, for whom we shall be a dominant financial service portal, all enabled by bold, smart and self-driven professionals,” assured Valdepenas. /MP