UNION Bank of the Philippines announced on Tuesday its subsidiary has begun operating as a digital bank.

"Pursuant to the authority to operate a digital bank granted in its favor by the Bangko Sentral ng Pilipinas (BSP) last July 12, 2022, UnionDigital Bank Inc., UnionBank's wholly-owned subsidiary, commenced operations today, July 18, 2022," in a disclosure posted on the Philippine Stock Exchange website.

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