Aboitiz-led Union Bank of the Philippines has invested some P1.9 billion to create new products and platforms that would contribute to social sustainability metrics amid the prolonged coronavirus (COVID-19) pandemic.
This investment has, in turn, allowed the bank develop over 100 products and platforms that benefit the bank’s stakeholders and customers, Unionbank head of sustainability Dave Devilles said in a virtual roundtable on Wednesday.
As a result, Devilles said the bank had plowed back P32 billion to the domestic economy in the form of taxes paid to the government, payments made to suppliers and salaries of employees. Out of the total pie, he said about P14.41 million had been invested for employee development and training.
“By championing innovation, social good, we create a groundswell of like-minded organizations and communities that can help concrete solutions to uplift lives and communities,” Devilles said.
By using “people tech” to contribute to sustainable development, he noted that the bank was embracing a higher purpose.
Michelle Rubio, chief human resource officer at Unionbank, said it was providential that the bank had embraced digital transformation ahead of the pandemic.
“We are poised to scale at a much faster pace and beyond recovery, our efforts are in enabling renaissance – a new way of working, a discipline for mastery , excellence in innovation to leapfrog Unionbank into the future,” Rubio said.