Union Bank of the Philippines (UnionBank) has been named SME Bank of the Year Philippines 2021 at the Asian Banking & Finance’s Retail Banking Awards function held recently. UnionBank has been conferred this much-coveted award for enhancing the competitiveness of the country’s SMEs in the domestic and the global markets despite the many challenges of the Covid-19 pandemic. The Asian Banking and Finance (ABF) magazine had bestowed the same award on UnionBank in 2019 for extending banking and financial services to SMEs via best-in-class digital and physical channels.