SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Jan 12, 2018

2. SEC Identification Number

36073

3. BIR Tax Identification No.

000-508-271

4. Exact name of issuer as specified in its charter

UNION BANK OF THE PHILIPPINES

5. Province, country or other jurisdiction of incorporation

METRO MANILA

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

UNIONBANK PLAZA, MERALCO AVE. COR. ONYX ST., ORTIGAS CENTER, PASIG CITY Postal Code 1605

8. Issuer's telephone number, including area code

(02) 667-6388

9. Former name or former address, if changed since last report

N/A

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
COMMON	1,058,343,929

11. Indicate the item numbers reported herein

ITEM 9 - OTHER EVENTS

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Union Bank of the Philippines, Inc.UBP

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
CLARIFICATION ON THE NEWS ARTICLE POSTED IN THE PHILIPPINE STAR (INTERNET EDITION) ON JANUARY 12, 2018

Source	The Philippine Star (Internet Edition)
Subject of News Report	City Savings buying out IFC in PR Savings Bank
Date of Publication	Jan 12, 2018

Clarification of News Report
We respond to the correspondence received via PSE Edge on January 12, 2018 seeking clarification and confirmation of the news article entitled "City Savings buying out IFC in PR Savings Bank" that was posted in The Philippine Star (Internet Edition) on January 12, 2018 with the following quoted portions: “MANILA, Philippines — The investment arm of the World Bank is unloading its interest in Isabela-based thrift bank Philippine Resources Savings Bank in favor of the unit of Aboitiz-led Union Bank of the Philippines. A source said UnionBank’s City Savings Bank Inc. is spending P890 million to acquire the preferred shares owned by World Bank’s International Finance Corp. in PR Savings Bank. . . . . The source pointed out the amount is on top of the P6.12 billion to be spent by City Savings Bank to acquire the interest of the Ropali Group in PR Savings Bank. . . . .” The acquisition of the preferred shares owned by World Bank’s International Finance Corporation in PR Savings Bank is still under negotiation, hence, the acquisition price and terms are not yet confirmed. Furthermore, we clarify that the acquisition cost of the common shares of the ROPALI Group in PR Savings Bank is P6.127 billion. Thank you.
Other Relevant Information
N/A