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UnionBank launches payment collection app for MSMEs

UnionBank launches payment collection app for MSMEs
bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.

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UnionBank sets sights on mass market, small firms

UnionBank sets sights on mass market, small firms
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UnionBank income down 17.4% | BusinessWorld

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UNIONBANK of the Philippines, Inc. booked a lower net income last year on increased loan loss provisions due to the pandemic. FACEBOOK/UBP.UNIONBANK.PLAZA
UNIONBANK of the Philippines, Inc. saw its net profit drop in 2020 despite higher net interest income, as it ramped up its loan loss provisions to safeguard asset quality amid the coronavirus pandemic.
The Aboitiz-led lender’s net earnings declined 17.4% to P11.561 billion last year from P14 billion in 2019, it said in a disclosure to the local bourse on Monday.
This was equivalent to a return on equity of 11.9%.
UnionBank’s loan loss reserves reached P8.7 billion in 2020, surging from the P1.9 billion it set aside in the previous year. The bank’s nonperforming loan ratio picked up to 5.1% from 3.1%. ....

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UnionBank launches app for MSMEs | BusinessWorld

BusinessWorld
January 20, 2021 | 12:01 am
UNIONBANK of the Philippines, Inc. unveiled a one-stop app for micro-, small-, and medium-sized enterprises (MSMEs) where they can manage their financial operations digitally as businesses move forward in the “new normal.”
The app will help the bank achieve its “moonshot goal” to serve a million MSMEs, UnionBank President and Chief Executive Officer Edwin R. Bautista said during the virtual launch of the app on Tuesday.
“So far we already have 175,000 MSMEs [across our platforms]. [Our goal] is an ambitious number, but we believe it is doable,” Mr. Bautista said.
“What we’ve done is that we’ve digitalized that [onboarding] process so that you can enroll your account and set up all your requirements at the safety of your home and we facilitate those requirements, so that in a matter of hours, you would already be able to use your online banking account,” Antonio Miguel D. Dans II, Uni ....

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Cebu Exchange investors gearing up to ride Cebu's surging economy

Cebu Exchange investors gearing up to ride Cebu s surging economy
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PHOTO FROM ARTHALAND. The 5,152 sq.m. Retail Area of Cebu Exchange will brighten up the Cebu I.T. Park. (Artist’s Perspective)
Metro Manila (CNN Philippines) Locators of the Cebu Exchange are now preparing for their start of operations following ARTHALAND’s on-time handover of Phase 1 last October 2020.
Investors look forward to taking advantage of Cebu’s continued economic growth and consider Cebu Exchange as the most sought-after and prime business address, as it is set to become a landmark of the Cebu City skyline.
Located at the Cebu IT Park gateway, Cebu Exchange will be the Philippines’ largest multi-certified green office tower offering an approximate 11 hectares in gross floor area of office space, along with five stories of premier retail space along Salinas Drive. ....

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