Thursday, January 12, 2012

UnionBank storms Canada

UnionBank storms Canada


-Reiterates corporate vision, achievements before Fil-Can leaders 


By Alex P. Vidal


RICHMOND, British Columbia -- Executives of the UnionBank 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 that Aboitiz Equity Ventures or Aboitiz, is the major shareholders among owner stakeholders with 43.3 percent shareholdings as of September 2011. Aboitiz is one of the largest conglomerates with interests in power generation and distribution, banking and finance, transportation and food, Lapez said.
It is followed by the Social Security System (SSS) with 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," 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," the president vowed. "Cost management will focus on technological advancements and business process improvements through six sigma initiatives."


CERTIFICATIONS


Valdepenas said they will continue to obtain ISO certifications in the different processes across all business segments. "Risk management in all processes must be enhanced," he averred. "We will 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."

2 comments:

  1. Our Philippine banking system is still backward. They need to update their banking system and make it easy for customers to do their banking. I opened a couple of accounts in the Philippines few years ago and finally decided to close it. They made it hard for customers to make intercity or non-branch banking. I opened my account in Quezon city. When my relatives made a deposit on that account in Bohol, they have to pay a fee for a non-branch deposit. Are you kidding me? I have to pay to make a deposit to the bank because my account was opened in another branch though it's the same bank? Also, debit cards is not widely accepted in many stores outside of Metro Manila and especially in the provinces. So definitely, we need an up to date banking system in the Philippines.

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