Q2 2026 Union Bank of the Philippines Earnings Call Transcript
(audio in progress) (Operator Instructions) For today's call, Dominic Banal, the global markets trading head, will kick us off with Union Bank's macroeconomic and industry outlook. He will be followed by Union Bank's CFO, Demi Lozano, who will present the financial performance. With that, let me turn you over to Dominic.
Good afternoon, everyone. So last time we had this event, the US-Iran war had just broken out. That continues to grab headlines and financial market attention. The latest move is again towards the direction of a possible peace deal and that has led oil lower once again.
After hitting a high of around $126 per barrel in April, it's currently sitting at $80 per barrel at the moment. The US Fed under its new Chair, Kevin Warsh, held rates steady in their July meeting. Although it was quite notable that there were three dissenting votes from Governors Hammock, Logan, and Kashkari in favor of a 25 basis point hike. That
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