In today’s meeting with analysts and investors, UnionBank Chairman and CEO, Mr. Justo A. Ortiz, affirmed, “We are profiting from our core business strategy which, coupled with our unwavering commitment to asset quality and effective risk management, will position the Bank well for the remainder of 2008.

UnionBank, in partnership with the Philippine Stock Exchange, launched the first of its Thought Leadership Conference series with the theme, "Perspectives on the Global Economy and Philippine Banking," Aptly held at the trading floor of the Philippine Stock Exchange in Ortigas Center, the conference served as a venue to exchange perspectives on global and emerging market credit trends and their impact on banking systems and sovereign creditworthiness in Asia, including the Philippines and discuss UnionBank's views about the challenges that lay ahead for the Philippine banking industry and its responses to these challenges.

In its annual stockholders' meeting held today at the EDSA Shangrila Hotel, UNIONBANK cited solid advancements in its FOCUS 2010 goals and commits to further accelerate SMART Banking initiatives in 2008 as part of its vision to make a difference for its customers and shareholders.

UnionBank of the Philippines posted a net income of Php602.49 million in the first quarter of 2008, showing better performance in net interest income and operational costs.

UnionBank and TNS Philippines, Inc. (TNS) recently signed an agreement for the Bank's ePayroll®, a comprehensive outsourced payroll computation service.