Philippines' best bank for SMEs 2023: UnionBank
Given that more than 99% of businesses in the Philippines are in the micro, small and medium-sized enterprise sector, it is the ideal place for any bank to focus. UnionBank of the Philippines stands out both in this sector and SMEs more broadly. Under the leadership of chief executive Edwin Bautista, the bank played a big role during the Covid-19 period and has continued to work with SMEs to enhance competitiveness and profitability ever since.
UnionBank’s approach, as Bautista’s team explains, is two-pronged. Firstly, hiring top talent that can identify and understand the pain points of a business and the supply chain that sustains it. Secondly, the bank co-creates innovative solutions for those businesses to stay competitive.
Technology is key. UnionBank wins Asiamoney’s award for best bank for SMEs for its work as a tech trailblazer. The bank’s mantra is that with the right digital solutions, any business can build a more competitive, collaborative and sustainable operation.