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 31, 2025

2. SEC Identification Number

36073

3. BIR Tax Identification No.

000-508-271-000

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 AVENUE CORNER ONYX STREET, ORTIGAS CENTER, PASIG CITY Postal Code 1605

8. Issuer's telephone number, including area code

(02) 8841-8600

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	3,316,405,584

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 PhilippinesUBP

PSE Disclosure Form 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
UnionBank 2024 Net Income up by 31% year-on-year
Background/Description of the Disclosure
UnionBank of the Philippines generated P12.0 billion in net income in FY2024, an increase of 31% year-on-year. This performance was supported by a strong consumer business, margin expansion, and higher fee based revenues. Consumer loans now account for 61% of the total loan portfolio, nearly 3x higher than the industry average. This is diversified across credit cards, mortgage loans, personal/salary loans, and vehicle loans. The Bank’s retail customer base has now reached 17 million. Net revenues reached a new high of P79.5 billion, 12.4% higher year-on-year. Net interest income increased by 11.6% to P58.0 billion as the Bank’s net interest margin expanded by 49 basis points to 6.0%. The Bank’s net interest margin is among the highest in the industry. Moreover, the Bank's fee income as a proportion of its assets is nearly double the Philippine banking industry's average, fueled by increasing customer transactions such as bills payments and funds transfers, as well as interchange and other card-related fees. Notwithstanding the Bank’s continued investments in customer engagement programs, FY 2024 operating expenses still managed to improve by 1.4% versus the previous year to P44.3 billion. Please refer to the attached Press Release dated January 31, 2025 entitled “UnionBank 2024 Net Income up by 31% year-on-year”.
Other Relevant Information
N/A