Philippine Banks Web Site Comparative Analysis
I. Industry and Company Background
Industry
Currently, the Philippine Financial System is divided into the following:
Among the banking institutions in the country, seventeen (17) are universal banks while twenty-one (22) are banks with sole commercial banking functions. There are also eighty-four (84) thrift banks and seven hundred thirty-eight (738) rural banks in the country. (as of April 1, 2008, www.bsp.gov.ph)
Company Background
About UnionBank
UnionBank of the Philippines is a universal bank which commenced operations in 1981. Since its inception, the bank has expanded steadily through several mergers and acquisitions, the latest of which was with iBank in mid-2006. It is currently the 9th largest bank in the country in terms of assets as well as customer deposits. It has established itself as a leading bank in using technology to provide advanced banking solutions, particularly cash management solutions, to its customers. UnionBank is focused on meeting customer needs through technological advancements and seeks to remain at the forefront of technology-based banking in the Philippines.
The bank aims to continue to distinguish itself from its competitors through its innovative technologies and products, customer service and cash management services via a branch banking network comprising a total of 166 operational branches and 217 ATMs nationwide as of December 31, 2007.
Its head office is located at UnionBank Plaza, Meralco Avenue corner Onyx Street, Ortigas Center, Pasig City, Philippines and its official website is www.unionbankph.com.
Ownership
UnionBank is largely owned by the Aboitiz Group of Companies, which is known for its power generation and shipping businesses. Social Security Systems and Insular Life Assurance Co. are also minority shareholders in UnionBank. The public also has minority shareholdings in the company as UnionBank is a publicly-listed corporation.
History
UnionBank of the
Industry
Currently, the Philippine Financial System is divided into the following:
Among the banking institutions in the country, seventeen (17) are universal banks while twenty-one (22) are banks with sole commercial banking functions. There are also eighty-four (84) thrift banks and seven hundred thirty-eight (738) rural banks in the country. (as of April 1, 2008, www.bsp.gov.ph)
Company Background
About UnionBank
UnionBank of the Philippines is a universal bank which commenced operations in 1981. Since its inception, the bank has expanded steadily through several mergers and acquisitions, the latest of which was with iBank in mid-2006. It is currently the 9th largest bank in the country in terms of assets as well as customer deposits. It has established itself as a leading bank in using technology to provide advanced banking solutions, particularly cash management solutions, to its customers. UnionBank is focused on meeting customer needs through technological advancements and seeks to remain at the forefront of technology-based banking in the Philippines.
The bank aims to continue to distinguish itself from its competitors through its innovative technologies and products, customer service and cash management services via a branch banking network comprising a total of 166 operational branches and 217 ATMs nationwide as of December 31, 2007.
Its head office is located at UnionBank Plaza, Meralco Avenue corner Onyx Street, Ortigas Center, Pasig City, Philippines and its official website is www.unionbankph.com.
Ownership
UnionBank is largely owned by the Aboitiz Group of Companies, which is known for its power generation and shipping businesses. Social Security Systems and Insular Life Assurance Co. are also minority shareholders in UnionBank. The public also has minority shareholdings in the company as UnionBank is a publicly-listed corporation.
History
UnionBank of the