{"id":329697,"date":"2024-09-30T21:59:53","date_gmt":"2024-09-30T13:59:53","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329697"},"modified":"2024-09-30T21:59:55","modified_gmt":"2024-09-30T13:59:55","slug":"trade-the-news-ubp-injects-additional-p1-6-billion-in-uniondigital","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-ubp-injects-additional-p1-6-billion-in-uniondigital\/","title":{"rendered":"Trade the News: UBP injects additional P1.6 billion in UnionDigital"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>UnionBank of the Philippines<\/td><\/tr>
Stock Code<\/strong><\/td>UBP<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 43.08<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

UnionBank of the Philippines, Inc. (UBP) will inject P1.6 billion in fresh capital into its digital banking arm to support its expansion, it said on Tuesday.<\/p>\n\n\n\n

\u201cPlease be informed that the Board of Directors of Union Bank of the Philippines, at its meeting held on Sept. 23, approved the infusion of additional capital of up to P1.6 billion in UnionDigital Bank Inc. to support UnionDigital\u2019s ongoing business operations and allow it to deliver sustainable growth, subject to the applicable regulatory approvals,\u201d the listed Aboitiz-led bank said in a disclosure to the stock exchange.<\/p>\n\n\n\n

This marks UnionBank\u2019s fourth capital injection into UnionDigital, with the last being a P1.8-billion infusion in November 2023.<\/p>\n\n\n\n

In October 2023, UnionBank also made an equity investment of P900 million in UnionDigital to support its growth and boost its capital position.<\/p>\n\n\n\n

UnionDigital is one of the six BSP-licensed online-only banks in the country. It secured its license in July 2021 and began operating in July 2022.<\/p>\n\n\n\n

The digital bank\u2019s total assets stood at P21.87 billion as of March 31, down by 2.67% year on year, latest data from the Bangko Sentral ng Pilipinas (BSP) showed.<\/p>\n\n\n\n

Its net loans declined by 37.59% to P8.08 billion in the first quarter, with deposits likewise down by 5.68% to P16.52 billion.<\/p>\n\n\n\n

UnionDigital\u2019s total equity was at P4 billion at end-March, up by 2.56% year on year.<\/p>\n\n\n\n

(News Source: Business World<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329697","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329697"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329697\/revisions"}],"predecessor-version":[{"id":329699,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329697\/revisions\/329699"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}