UnionBank completes acquisition of Citi’s retail banking business in PH

Manila, Philippines— UnionBank of the Philippines today announced the completion of its acquisition of Citi’s consumer banking business in the Philippines.

Ana A. Delgado, chief customer experience officer and chief digital channel officer, said, “This acquisition accelerates our goal of becoming the greatest consumer bank in the Philippines with one of the most diversified consumer banking portfolios among the listed banks today.”

The acquisition, Delgado said, further strengthened UnionBank’s three consumer businesses: credit cards, salary/personal loans and mortgage loans.

UnionBank president and chief executive officer Edwin R. Bautista said the acquisition was a game …

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