The stock rights offering of Aboitiz-led Union Bank of the Philippines is set to kick off this month to raise as much as P40 billion to partially fund the acquisition of the consumer lending business of global banking giant Citigroup in the country.
MORE Filipinos are expected to avail themselves of their medical benefits this year as Covid-19 restrictions become less stringent, according to Mercer Marsh Benefits’ (MMB) Health Trends Report. While medical trend rates remain below prepandemic levels, Mercer’s data showed this is expected to increase in the Philippines to 11.5 percent…
Aboitiz-owned Union Bank of the Philippines (UnionBank) expects to be the country’s third largest credit card issuer after acquiring Citi Philippines’ P55-billion credit card portfolio, according to a senior executive. “We bought the Citibank portfolio for what it is, the leading credit card produc