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Banco Union S.A. (Colombia)

Main Activities: Other Depository Credit Intermediation
Full name: Banco Union S.A. Profile Updated: September 25, 2024
Buy our report for this company USD 29.95 Most recent financial data: 2023 Available in: English & Spanish Download a sample report

Banco Unión S.A., formerly known as Giros y Divisas, was established in 1995 in the city of Cali by a group of entrepreneurs from Valle del Cauca. In the same year, the company signed a contract as an agent of Western Union in Colombia, a leading multinational in the global remittance market, which is still in effect today. After merging with Orión Compañía de Financiamiento in 2001, the company became Giros y Finanzas Compañía de Financiamiento Comercial. In 2017, Banco Unión launched its transactional portal and introduced services such as international money transfers to bank accounts and direct collection of remittances into savings accounts, becoming an authorized digital agent of Western Union. In 2018, the company made the decision to become a banking entity, transforming its communication, image, relationships, and financial aspects to emphasize its closeness to customers, offer a wide range of products beyond remittance services, position itself as a financial institution, and create a name that conveys the essence of the company, unity. In 2020, during its conversion process to a bank, Banco Unión adapted to the new global reality by creating its Home Delivery Remittance service, allowing users to receive their money without leaving their homes during the Covid-19 pandemic. The company also introduced a contactless payment card to ensure the safety of its customers and successfully joined ACH to enable interbank transfers to and from the Giros y Finanzas Savings Account. In September 2022, the company rebranded as Banco Unión, formerly known as Giros y Finanzas. Currently, Banco Unión offers a wide range of financial products and services to meet the needs of its customers. These include Savings Accounts, Time Deposits (CDT), Debit Cards, Revolving Credit, Payroll Loans, Insurance, Credioro, Credit Cards, payment of public or private utility bills at their offices, and much more. Efecty, Multipagas, Punto Red, CFA, Banco Agrario, and Don Pago have become Banco Unión's correspondent allies to expand its coverage and extend its services throughout the country. Banco Unión, formerly known as Giros y Finanzas, has always been characterized by offering innovative and secure services, aiming to be the financial institution for Colombians abroad and their families in Colombia.

Headquarters
Cl 4 # 27 - 52 Barrio San Fernando
Cali; Valle del Cauca;

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Website: http://www.bancounion.com

Basic Information
Total Employees:
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Outstanding Shares:
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Financial Auditors:
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Incorporation Date:
December 05, 1963
Key Executives
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Legal Representative
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Member of the Board of Directors
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Member of the Board of Directors
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Member of the Board of Directors
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Member of the Board of Directors
Ownership Details
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46.66%
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33.32%
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20%
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0.01%
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0.01%
Company Performance
Financial values in the chart are available after Banco Union S.A. report is purchased.
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Key Financial Highlights
Annual growth percentages for latest two years in local currency COP. Absolute financial data is included in the purchased report.
Net interest income
-4.35%
Operating profit (EBIT)
-93.03%
Net Profit (Loss) for the Period
-99.23%
Total assets
19.91%
Total equity
-7.62%
Total Assets Trend
9.83%
Net Interest Income Trend
N/A
Loans to Deposits Ratio
-4.24%
Loans to Asset Ratio
1.46%

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