PETNET Inc.

PETNET is geared towards providing financial services to consumers and businesses. Initially established to grow the network of Western Union in the Philippines, the company grew its portfolio and embarked on a massive branch and service offering expansion program.

In 2018, Aboitiz Equity Ventures (AEV) sold its 51% stake in PETNET, Inc. (PETNET) to City Savings Bank (CSB) and Union Properties, Inc. (UPI), in line with the direction of the Aboitiz Group to consolidate all its financial services under one entity, Union Bank. CSB and UPI are subsidiaries of Union Bank.

This strategy facilitates closer collaboration among the Group’s banking and financial service units and leverages synergies toward business optimization. Today, the company continues to commit itself to scaling up the business to further provide relevant services to its customers.