The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Asia's best bank transformation 2018: Union Bank of the Philippines

Awards for Excellence 2018

For many years Union Bank of the Philippines was a solid but unspectacular universal bank – decent but neither the biggest nor the boldest. Then it set about a new mission: to make itself the most digitally sophisticated bank not only in the Philippines but the region. That makes it Euromoney’s best bank for transformation in Asia this year.

UnionBank resembles an early-stage DBS, a bank it has studied closely in deciding how to reinvent itself. Like DBS’s Piyush Gupta, its top executives Justo Ortiz and Edwin Bautista are given to grand statements like “digitize or perish is the bank’s mantra” and “forge the future rather than watch it unfold.” Also like DBS, it has tried to go back to basics and ask questions like: what will be the role of the branch in the future?

UnionBank has answered this question with the creation of a new idea it calls The Ark, which changes a branch from being a place to process transactions to a place to get on board digital channels or to seek specific advisory services.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree