Regulatory Alerts2024-03-26
CL-2024-016: UnionBank Investment Management and Trust Corporation Establishment and Commencement of Operations
The Bangko Sentral ng Pilipinas issued this circular to announce the establishment and commencement of operations of UnionBank Investment Management and Trust Corporation. The Monetary Board approved the spin-off of the trust group from Union Bank of the Philippines in March 2023, leading to the entity's registration with the Securities and Exchange Commission in October 2023. UBIMTC officially began operations on 1 March 2024 following the issuance of its Certificate of Authority by the central bank in November 2023.
Page 1 of 1 OFFICE OF THE DEPUTY GOVERNOR | FINANCIAL SUPERVISION SECTOR CIRCULAR LETTER NO. CL-2024-____ To : All BSP-Supervised Financial Institutions Subject : UnionBank Investment Management and Trust Corporation - Establishment and Commencement of Operations The Monetary Board (MB), in its Resolution No. 279 dated 2 March 2023, approved the spin-off of the trust group of the Union Bank of the Philippines (UBP) into a trust corporation under the corporate name UnionBank Investment Management and Trust Corporation (UBIMTC). UBIMTC was registered with the Securities and Exchange Commission on 11 October 2023. The corresponding Certificate of Authority to Operate UBIMTC was issued by the Bangko Sentral ng Pilipinas on 14 November 2023. UBIMTC started operations on 1 March 2024. For information and guidance. CHUCHI G. FONACIER Deputy Governor ___ Ma 26 rch 2024