Monzon recognized the return of UnionBank to the 30 member PSE index after 14 years and concluded "At the PSE we are eager to see the next phase of UnionBank's digital transformation, as the bank works toward its vision of leading the future in banking." In acknowledgment, UnionBank President and CEO Edwin R. Bautista said "The strong participation of our existing shareholders on our Stock Rights Offering, reflects their trust in the value that will be created by executing our strategies," Proceeds from the SRO will be allocated to support the growth of the Bank's various business segments and its wholly-owned subsidiary UnionDigital. Bautista added, "With the completion of our SRO, we aim to pursue our long-term objective to become a leader in retail banking in the Philippines."