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)

Feb 26, 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 NEWS ARTICLE POSTED IN INQUIRER.NET

Source	Inquirer.net
Subject of News Report	Union Bank sees jump in 2018 profit
Date of Publication	Feb 26, 2018

Clarification of News Report
We respond to the correspondence received via PSE Edge on February 26, 2018 seeking clarification and/or confirmation on the news article entitled “Union Bank sees jump in 2018 profit" that was posted in Inquirer.net on February 26, 2018, which states: “Aboitiz-led Union Bank of the Philippines aims to grow its net profit by double-digits this year given the sustained expansion in its loan and securities books. In a recent interview, Union Bank president Edwin Bautista said this year would likely be ‘very good’ for the bank, driven by continued loan and securities growth and expansion of the balance sheet. Total resources could easily breach P700 billion this year, he said. Last year, Union Bank’s balance sheet stood at P622.1 billion, marking an 18.6-percent annual growth. Lending activities are projected to sustain a growth of 25 percent this year, much faster than the industry pace. In December, bank lending in the country grew by some 19 percent. Consumer and small businesses now account for 70 percent of Union Bank’s revenue but by volume, they account for slightly less than 50 percent. The higher revenue contribution reflects the higher margins from these segments, Bautista said. Asked whether Union Bank would need to raise fresh capital anytime soon, Bautista said the bank could sustain its growth without any capital hike due to high margins enjoyed by thrift banking arm City Savings. . . . .” We confirm the above-quoted portions of the article. Thank you.
Other Relevant Information
N/A