UnionBank says digital subsidiary UnionDigital has started operations

ABS-CBN News

Posted at Jul 19 2022 12:24 PM

MANILA - UnionBank on Tuesday said its digital bank UnionDigital started operations on July 18.

"Pursuant to the Authority to Operate a digital bank granted in its favor by the Bangko Sentral ng Pilipinas last July 12, 2022, UnionDigital Bank Inc., UnionBank’s wholly-owned subsidiary, commenced operations today, July 18,2022," UnionBank said in a disclosure to the stock exchange. 

However, no other details regarding the rollout were disclosed. 

UnionBank earlier said it was eyeing the launch in the third or fourth quarter of the year, after initially saying that it would be in July.

Five other digital banks were granted licenses by the central bank. 

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