UnionBank had a record year in 2016. Growth momentum in the Bank’s customer businesses has been sustained, in fact, recording annual growth rates faster than industry and higher than previous years. We’ve made these possible by continuously striving to embed ourselves in the fabric of society and of the communities we serve, by living our purpose.
UnionBank is constantly leveraging on innovative capabilities underpinned by its focus on customer centricity. We are fully committed to accelerating the development of new innovative banking and information solutions not only to improve business competitiveness but more importantly, to adapt to the rapidly changing customer expectations.
The Bank will continually iterate cash management solutions and product and service offerings to cater to and anticipate the different needs of customers. This will enable us to link the supply chain of anchor clients and penetrate different segments within a community.
The Bank’s fundamental strategies remain unchanged and we will continue pursuing partnerships and collaborations to be able to provide superior products and services with differentiating value. In the past couple of years, we’ve pursued partnering with key accounts and collaborated with a number of industry leaders from the business and technology industries to introduce new offerings; and conduct forums and hackathons.
These partnerships allowed us to build communities of entrepreneurs using E-Commerce to promote local businesses across the country. This was also a way for us to encourage communities of youths to harness their coding skills by creating apps that would address national challenges such as sustainability and community building. Lastly, these collaborations made it possible for us to empower corporate clients to have better integrated financial and information solutions in their supply chain community and other communities of interest.
Customer engagement remains vital in our journey towards digital transformation. This involves the creation of a unique customer experience delivered by both digital platforms and face-to-face interactions through integrated channels. Having this digital infrastructure and capability will enable us to deliver our brand of unique customer experience, thereby significantly empowering the communities that we work in and serve.
To support this thrust, we have beefed up our team by hiring senior executives who will lead UnionBank in successfully executing the digital transformation and customer experience plan. We similarly established a fully-functioning data analytics team that would support risk undertaking activities using psychographics and behavioral markers.
We also invested in a new cloud-based Human Capital Management System to equip team members with capabilities to achieve their full potential on their own, as well as drive the Bank’s transformation plan, reinventing ourselves for the digital age and building a bank of enduring greatness.
Looking forward, we expect to sustain our growth momentum by employing initiatives that will reinforce UnionBank’s transformation towards digitization and superior customer experience. To be agile and customer-responsive, the Bank will embark on an Enterprise Architecture exercise and continuously invest in state-of-the-art talents and assets. Correspondingly, we will strengthen our risk management initiatives to brace the impact of this transformation, yet continue seizing opportunities that lie ahead.
We will also continue to have a collaborative mindset and embrace partnering with communities to obtain capabilities, expand product offerings, and acquire customers. Most importantly, we will build an agile organization and culture so we can look forward to this journey of co-creation with our stakeholders and the communities we serve.
In the midst of an environment of constant change, UnionBank maintains a constancy of purpose articulated in the FOCUS 2020 roadmap by living our shared purpose: to “Make Da Diff” in the lives of others, in the communities we serve by connecting and enabling communities through Smart banking in the spirit of UBUNTU.
Justo A. Ortiz
Chairman and CEO
When I took over the position of President and COO in 2016, I was given a clear mandate, which is to transform the bank for the digital economy. This objective required build-up in information technology infrastructure and organizational capabilities. These investments are necessary to ensure that we deliver 24/7 banking, T+0 turnaround time, 6-sigma reliability, and secured transactions for the communities we serve.
In the middle of all these changes, we were still able to achieve record-breaking earnings performance. Our FOCUS 2020 strategic imperatives allowed us to post above- industry growth rates in our customer businesses. This provided us the core earnings base on which we can build a bank for the future.
– Edwin R. Bautista, President and COO, UnionBank
2016 marked a milestone when CitySavings celebrated its 50th year of helping teachers fulfill their aspirations. The bank registered its best-ever year in revenues, maintaining market leadership amidst intensified competition. We served over 335,000 customers through our 106 branches and other banking offices nationwide, complemented by over 300 PERA HUB outlets. We remain ahead of the pack by pioneering cutting edge digital services such as the loan ranger and pensionado loans, bringing the bank closer to our customers.
In 2017, we will continuously strengthen our partnerships with DepEd through our education-related corporate social responsibility projects, focusing our efforts in the Mindanao area. We will maximize further our partnership with PERA HUB in the same region for our teacher’s market.
We will remain relevant to our key stakeholders and to the communities we serve by constantly living up to our Simple is Good philosophy.
– Catalino S. Abacan, President and CEO, CitySavings