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Tokyo-based SBI Holdings acquires minority stake in UBX

The Philippine Star

|

September 30, 2024

The financial technology arm of Aboitiz-led Union Bank of the Philippines has struck a deal with Tokyo-based financial services conglomerate SBI Holdings, as the latter acquired a minority stake in UBX.

- KEISHA TA-ASAN

The deal would allow both parties to collaborate in developing more impactful digital transformation solutions tailored for the needs of enterprises in the Philip pines, UBX said in a statement.

"The investment of SBI Holdings in UBX will allow us to combine our local expertise and digital transformation capabilities with SBI's vast experience in digital finance to develop more impactful and scalable solutions for the Philippine market," UBX president and CEO John Januszczak said.

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