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- The next year, Basler Depositenbank and Schweizerische Unionbank were acquired.
- It was also in that year that UnionBank started a gradual privatization.
- Manila : Unionbank of the Philippines begins selling 2 billion pesos of shares.
- UnionBank is a partnership among the Aboitiz Group, Insular Life and Social Security System.
- In July 1992, UnionBank was granted the license to operate as a universal bank.