Best Digital-Only Bank in the Philippines goes to UnionDigital Bank
This digital bank demonstrated stronger growth among peers. It acquired 1.7 million customers in 2022—or 314,000 new customers per month.
It also reported a strong balance-sheet with a 67% loan to deposit ratio, $170 million (PHP 9.2 billion) in deposits and $231 million (PHP 12.6 billion) in assets. It was using its deposits more effectively compared to other digital banks.
This winning bank recently signed a strategic partnership with subsidiaries of Aboitiz Group, allowing them access to the group’s ecosystem, continuing on delivering innovative and digital-centric lending products and services to its customers.
With its strong financial numbers, customer acquisition, and strategic partnerships, the award for Best Digital-Only Bank in the Philippines goes to UnionDigital Bank.