UNION Bank of the Philippines said that they are looking to drop the Citi brand for all credit cards in early 2024.
This will mark the new era for the Aboitiz-led lender, after more than a year since it completed a P72-billion takeover of Citi’s consumer business in the Philippines.
In a statement, Union Bank said that it is looking for a faster growth in the coming years, with the domestic banking giant looking to conclude the integration with Citi this 2023.
UnionBank CEO Edwin Bautista said that their credit card growth rates over the past six months had hit a record high.
UnionBank now has about 1.5 million active credit cards in force, he said.
The bank earlier said last week that they will launch a new line of credit cards targeting a wide range of clients—said new Citi card issuances were already being made with the UnionBank branding.