Union Bank of the Philippines is doubling down on its digital ambitions after its board approved the infusion of up to P1.3 billion in additional capital into its wholly owned subsidiary, UnionDigital Bank Inc.
The capital boost, subject to regulatory approvals, will support UnionDigital’s ongoing operations and fuel its push for sustainable growth as it scales up lending and expands access to digital financial services. UnionDigital is targeting a loan portfolio of P40 billion, reinforcing its role in financial inclusion and economic empowerment.
Led by president and chief executive officer Danilo Mojica II, UnionDigital is sharpening its focus on speed and simplicity. By streamlining underwriting and loan disbursement, the digital bank aims to deliver faster access to credit, particularly for borrowers with urgent financial needs, while minimizing friction in the lending process.
The infusion comes as UnionDigital continues to ride the wave of fintech-driven change in Philippine banking. Digital platforms and strategic partnerships are reshaping how Filipinos save, borrow, and pay, especially as the country moves toward a more cashless and digitally inclusive economy. UnionDigital’s model is aimed at narrowing the gap for millions of unbanked and underbanked Filipinos.
Launched in July 2022 after securing a license from the Bangko Sentral ng Pilipinas in 2021, UnionDigital grew out of UnionBank’s broader digital transformation. It has since integrated UnionBank’s EON digital banking unit and rapidly scaled its platform.
UnionDigital has earned the Best Digital Bank in the Philippines award at the Global Excellence in Retail Finance Awards 2024. With fresh capital in hand, the digital lender is positioning itself to grow faster, lend wider, and bring more Filipinos into the formal financial system.
