RICHMOND, British Columbia -- Executives of the UnionBank of the Philippines led by President and Chief Operating Officer Victor B. Valdepenas and Executive Vice President Genaro V. Lapez flexed their corporate muscles before leaders of the Filipino-Canadian community in British Columbia in a conference at the River Rock Hotel last January 10 even as they reiterated the bank’s corpo­rate vision and achievements in information technology. As “enabler of the customers investment needs in the Philip­pines,” the bank is prepared to assist on entrepreneurship oppor­tunities, financial advise, and safe and reliable payments for ben­eficiaries or Philippine companies and organizations, said Lapez.

As seventh larget private do­mestic universal bank in the Philippines, Lapez disclosed that UnionBank has assets of P253 billion, deposits of P192 billion, and capital of P36 billion. “We provide a wide range of commercial, retail and corporate banking products and services, including loan and deposit prod­ucts, cash management services, credit and debit cards, treasury activities, and electronic bank­ing,” Lapez explained. SHAREHOLDERS

He revealed that Aboitiz Equity Ventures or Aboitiz, is the ma­jor shareholders among owner stakeholders with 43.3 percent shareholdings as of September 2011. Aboitiz is one of the larg­est conglomerates with interests in power generation and distribu­tion, banking and finance, trans­portation and food, Lapez said. It is followed by the Social Se­curity System (SSS) with 21.5 percent shareholdings as of Sep­tember 2011. The state agency manages the pension/social se­curity fund of workers in private sector, wage earners as well as the self-employed.

Lapez said Insular Life Assur­ance Company is third largest shareholder with 16.1 percent shareholdings as of September 2011. It is the Philippines’ leading and largest Filipino life insurance company with asset base of P72 billion as of 2010, he added.

“Our diversified customer base allows us to tap into different growth segments and to cross-sell across each segment,” Lapez stressed.
INNOVATION
Valdepenas, who assured their customers they will continue to push for product innovation in cash management, debit and credit cards, business and trust banking businesses “to strength­en foothold in all market areas and gain competitve edge,” em­phasized they were the first Phil­ippine bank to achieve the ISO 2700:2005 Information Security Management System (ISMS) Cer­tification from TUV Rheinland.

The bank’s Technology Man­agement Services (TMS) Unit is the first Information Technology Group among local banks in the Philip­pines to obtain certification for its specific ISO standard, boasted Valde­penas.
“We will in­tensify efforts in the man­agement and disposal of our non-perform­ing assets,” the president vowed. “Cost management

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