Union Bank of the Philippines and the ATRAM Group have pushed ahead with a merger agreement that resulted in the bank's acquisition of 27.5% stake in the asset management firm."Upon completion of the transaction, UnionBank will hold a 27.5% ownership stake in ATR Asset Management Inc. , while existing ATRAM shareholders will retain the remaining 72.5%," a statement by the two companies said.
“By integrating UnionBank’s digital expertise with ATRAM’s innovative asset management solutions, the partnership aims to provide clients with a diverse range of high-quality financial products,” the statement also said. UnionBank is a pioneer in digital banking and serves over 15 million banking clients, while ATRAM democratized investing by providing access to over two million retail investors through its digital platforms and partnerships.