ASSET RECOVERY GROUP

Asset Recovery Group (ARG) is the unit of the bank that is primary responsible for maintaining and handling the disposal of all our ROPA assets.

Real and Other Properties Acquired (ROPA) are properties acquired by the bank in settlement of uncollected loans or past-due accounts not paid upon maturity. Properties may be in the form of real estate, chattel (vehicles, machinery, and equipment, and inventories), or even shares of stock.

LEADERSHIP

The Asset Recovery Group is headed by Rachel Christine T. Geronimo, Chief Recovery Officer, and under her leadership is Mr. Aaron O. De Asa, the Group Head.

ARG is made up of three groups: the Asset Sales Team, the Property Acquisition Team, and the Channels and Service Fulfillment Team.

MODE OF ACQUISITION

Sealed Bidding – This can be done via email transaction only. We have auction requirements that the client or buyer shall send via ARGMarketing@unionbankph.com prior to the deadline for submission of bids, which is usually Friday every week.

Offer to Buy – This applies to buyers or clients who express their interest in purchasing properties in bulk at a negotiated price.

MODE OF PAYMENT

Outright Cash – A buyer or client can enjoy a 5% discount on a cash purchase (Applicable only if the client or buyer joins in sealed bidding).

Installment – We are requiring the completion of a 20% outright downpayment, and the remaining 80% will be entered into in-house financing at an 11% interest fixed rate per annum with maximum paying terms of 15 years.

HOW TO REACH US

For further inquiry, they may reach us through email at ARGMarketing@unionbankph.com