UnionDigital Bank bags $16m more in capital

It will be utilised to grow its digital loan offerings.

Union Bank of the Philippines’ subsidiary, UnionDigital Bank Inc., has obtained an additional capital infusion of P900m ($16.2m).

Specifically, the digital bank will use capital infusion to grow its digital loan offerings, allowing customers to access credit quickly and apply for loans seamlessly through its app and API. 

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However, the capital infusion is still pending regulatory approval from the Bangko Sentral ng Pilipinas (BSP).

(P1.00 = $0.018)