Stakeholder Relations

The Bank affirms that its employees play very important roles in achieving its long-term success. The Bank’s future as a business and as an institution is greatly dependent on the knowledge, skills, integrity, innovativeness and loyalty of its people.

The Bank is committed to provide its employees with a workplace free of sexual harassment, as well as harassment based on factors such as race, color, religion, age, marital status, sexual orientation, or disability.

It ensures that its employees are competent, dedicated and upright through proper talent selection and acquisition. Employees are given proper orientation and training to improve and further develop their skills and potentials. To facilitate this, the Bank has established its own university known as the “UnionBank University” comprising of various academies where employees get relevant training in various disciplines important to the Bank’s success.

Employees are entitled to competitive benefits, including a defined retirement plan. Rank and file employees are protected through proper representation during collective bargaining with the management.

The Bank, through its Human Resources Group has the “U Care” project as part of its Employee Engagement Program. It serves as an avenue for promoting health, personality development and general welfare of employees. The program also gives opportunities for employees to lend needed assistance to their co-employees and persons outside of the Bank.

Various sports-oriented activities and health awareness programs were also hosted by the Bank for its employees under its Healthy U program.

Maximization of shareholders’ wealth is a primary duty of the Bank. It is committed to protect shareholders’ rights as expressed in the Bank’s CG Manual, remove impediments to the exercise of these rights and allow shareholders opportunity to seek redress for violation of the same.

The Bank encourages its shareholders to attend annual stockholders’ meeting and exercise their right to elect directors. If shareholders cannot cast their votes personally, they are given the right to vote by proxy. A month before the annual meeting, shareholders are furnished with copies of the Bank’s Preliminary Information Statement, accompanied by its Annual Report and Audited Financial Statements.

Minority shareholders are granted the right to propose the holding of a meeting, and recommend items for inclusion in the agenda, provided these are for legitimate business purposes.

Shareholders have the right to remove and replace directors and vote on certain corporate acts, inspect corporate books and records and be furnished with annual reports and financial statements. They may dissent from corporate acts and demand payment of the fair value of their shares in the manner provided for under the Corporation Code.

Shareholders have the right to dividends, which shall be declared and paid out of the Bank’s unrestricted retained earnings as often and at such times as the Board may determine after making provision for necessary reserves in accordance with law and the regulations of the BSP.

The Bank has mechanisms to maintain frequent and clear communication with its shareholders, investors and creditors. It has accessible channels, e.g. company website (www.unionbankph.com) and periodic “UnionBanker” newsletters, where its shareholders and investors are informed of important announcements and disclosures in addition to the Bank’s submissions to regulatory bodies. It has an Investor Relations Office (IRO) whose mission is to strengthen the Bank’s relations with outside parties through the development and implementation of an investor relations program. The Bank participates in the regular conduct of analysts’ briefings by one of its principal stockholders, Aboitiz Equity Ventures. IRO conducts face-to-face meetings with investors, financial analysts, investment banks, rating agencies, the investing public, and other interested parties on a per-need or per-request basis. Discussions are held with business reporters to provide deeper appreciation and understanding of the Bank’s unique culture and competitive advantages. Conference calls are conducted for investors and analysts located outside the Philippines. If the subject matters of interest call for expertise on a specific subject, the IRO may invite other Bank executives to participate in the discussion. The IRO immediately responds to investors’ and analysts’ queries or concerns via telephone and e-mail.

The Bank is conscious that the nature of its business relies heavily on public trust and perception which is why it subjects itself to a standard of governance that puts weight on disclosure and transparency.

The Bank recognizes its obligation to be truthful and objective in its dealing with its customers. While it is entitled to employ all fair and honest means to promote its products and services, it does not knowingly make false representations to customers. All employees of the Bank deal with its depositors and customers in a manner that creates value for them through appropriate and sound banking practices.

The Bank is cognizant of, and consistently observes the Bank Secrecy Law, Anti-Money Laundering Act, and other laws governing the banking industry. The Bank promotes consumer protection by disseminating information on safe surfing guidelines and other security awareness measures for its depositors and customers. To enhance financial consumer protection in accordance with BSP Circular No. 857, the Bank created a dedicated unit, the Consumer Affairs Group, to oversee the fast, reliable and expert response to consumer concerns and feedback to ensure that the Bank not only addresses common concerns but also improve its products and services.

The Summary of Customer Concerns received from January to December 2016 are illustrated in the table below:

Product/Service

%

Deposit-related Inquiries

59.19%

Credit Cards - Info., Services & SOA

29.65%

GSIS-related Inquiries

10.31%

General Inquiry, Loans & Promotions

0.85%

Total

100.00%

The Bank upholds the principles of truthfulness, fairness and respect in its dealings with suppliers. It continues to build and maintain good relations by honoring agreements which are entered in conformity with the law and public policy.

All purchases of equipment, supplies and services for the Bank are made based on quality, utility and price offered by the vendors. While the Bank may actively negotiate for favorable terms with its suppliers, it does not knowingly mislead them with respect to competitors’ price and terms, its plans for future purchases, or other particulars of their transactions. The Bank does not use its vantage position as customer of the supplier to impose unfair conditions that could not have been obtained by negotiations in good faith, or commit acts or omissions that unjustly breach contractual obligations.

The Bank implements a strict and fair Supplier Accreditation Policy for all suppliers and outsourced service providers (OSPs) where submission of comprehensive information sheet and applicable documentary requirements are mandatory. The suppliers are then subjected to an assessment based on applicable criteria, including but not limited to: the company’s status in its respective industry, liquidity evidenced by its business viability and freedom from any major lawsuit or government action, among others.

The Bank has great respect for the State which conferred its juridical personality. It is the Bank’s policy to fully comply with all applicable laws and regulations with the end view of meeting the legal standards of business conduct.

At UnionBank, its Corporate Social Responsibility (CSR) comes from its core values of magis and ubuntu. It is deliberate for the Bank and its employees to give back to communities where it belongs, knowing that it operates in a broader context, and ultimately contribute in elevating lives. Thus, acting on its social responsibility, the Bank strives to make positive impacts through relevant programs, understand how such impacts are making concrete contributions and continuously improve its own approach.

The Bank initiates, conceptualizes, and executes CSR programs. Among its flagship CSR programs are the Ureka Forum and Go Beyond Communities. Under a board mandate, 1% of the Bank’s net income is allocated for CSR projects. In line with its purpose, the Bank strives toward aligning all of its CSR programs to its strategic objectives, such as financial inclusion by promoting financial and digital literacy, human resources development and employee engagement, while at the same time advancing its business and communities.

GoBeyond Communities is an employee-driven CSR program that engages and empowers our employees to “Make Da Diff” in the communities they serve. The goal is that at there will be at least one (1) volunteer involvement per employee in a year. Wherever there is a UnionBank branch, employees make an initiative to conceptualize and implement a volunteer program inspired by their personal advocacies that would benefit their immediate community.

UnionBank’s Ureka Forum is a program which promotes the mass conversion of Micro, Small and Medium Enterprises (MSMEs) to e-commerce. The Bank recognizes how MSMEs are drivers of economic growth. It also sees the opportunity of building a sustainable and innovative digital market through the synergy of e-commerce in the business model. As the Bank goes digital and further advances banking technology, it collaborates with leaders from the business community, government sectors, and technology industries to create a consortium of experts in assisting MSMEs in their digital transformation. Ureka Forum has breached the 1000th mark and has now activated a total of 1,051 MSMEs after four (4) forums.

UnionBank also advocates the advancement of academic community through university based programs and partnerships. With the University of Santo Tomas for Lumina Pandit II Program, Ateneo de Manila University for Arete, and UP School of Economics for the Center for Financial and Monetary Economics. The Bank is also a supportive partner of the Young Minds Academy of Ramon Aboitiz Foundation, Inc. (RAFI).

As the Bank continuously develop and hone its approach to community development, it is also taking steps to integrate its programs with the core business and ensure their measurable contributions to the communities served. More and more, it is considering creation of other programs where the Bank can create competencies and boost competitive advantage.
Disaster risk management also forms part of the Bank’s social responsibility facet. UnionBank together with the Aboitiz Group founded the Weather Philippine Foundation (WPF) to set up an automated weather system all over the country to provide closest to real-time weather forecasting. Supporting Weather Philippines’ proactive direction is its technology supplier Meteologix AG, an international weather information provider based in Switzerland. WPF aims to have about 1,000 automated weather station/devices installed across the Philippines in the future.

Throughout the year, the Bank engaged in activities espousing environment protection awareness among employees and strived to source its energy requirements from renewable sources.
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Governance Reports

Annual Corporate Governance Report (ACGR)

Corporate Governance Report

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Board Governance

View our board members here

View board
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Manual on Corporate Governance

View our manual here

Read manual
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Awards & Citations

View UnionBank’s awards and citations here

View awards
1 Make sure that the website address appearing on your browser starts with https://ebanking.unionbankph.com/ and a padlock symbol (🔒) beside it.If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 You can only type in your password or PIN using the virtual keyboard.

3 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

4 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.
1 Make sure that the website address appearing on your browser is Union Bank of the Philippines and has a padlock symbol (🔒) beside it. If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 You can only type in your password or PIN using the virtual keyboard.

3 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

4 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.
1 Make sure that the website address appearing on your browser starts with https://ebanking.unionbankph.com and a padlock symbol (🔒) beside it.If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 You can only type in your password or PIN using the virtual keyboard.

3 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

4 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.
1 Make sure that the website address appearing on your browser is Union Bank of the Philippines and has a padlock symbol (🔒) beside it. If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 You can only type in your password or PIN using the virtual keyboard.

3 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

4 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.
1 Make sure that the website address appearing on your browser starts with https://ebanking.unionbankph.com and a padlock symbol (🔒) beside it.If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

3 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.
1 Make sure that the website address appearing on your browser is Union Bank of the Philippines and has a padlock symbol (🔒) beside it. If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

3 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.
1 Make sure that the website address appearing on your browser starts with https://ebanking.unionbankph.com and a padlock symbol (🔒) beside it.If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

3 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.
1 Make sure that the website address appearing on your browser is Union Bank of the Philippines and has a padlock symbol (🔒) beside it. If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

3 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.