Banco Unión
Banco Unión S.A. is the state-owned commercial bank of Bolivia, the largest in the country by assets (USD 6.685B) and credit portfolio (USD 3.6B+), serving retail, corporate, SME, microcredit, and government segments across 95% of municipalities via 790+ service points and digital platforms including the YASTA mobile wallet for the unbanked.
- Company typePrivate
- Founded1994
- HeadquartersLa Paz, Bolivia
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What Banco Unión does
Banco Unión S.A. is the state-owned commercial bank of Bolivia, established in 1994 and headquartered in La Paz, operating as a universal bank serving personal, corporate, SME, microcredit, government, and women's banking (Banca Mujer) segments. Owned by the Plurinational State of Bolivia, it is the largest financial institution in the country by assets (USD 6.685 billion at end-2022), credit portfolio (USD 3.6 billion+), and equity (USD 397 million), serving approximately 160 million transactions annually and acting as the primary distribution channel for government social programs (Bono Juancito Pinto, Renta Dignidad, Bono Juana Azurduy) reaching roughly 5 million beneficiaries.
The bank's technology stack centers on proprietary digital banking platforms UNInet Plus (internet banking) and UNImóvil Plus (mobile banking), complemented by the YASTA mobile wallet developed in-house by Bolivian engineers with SEGIP biometric identity integration for unbanked users. Distribution spans 176+ agencies across all nine Bolivian departments, 475 ATMs, mobile Sariri units serving remote rural municipalities, Punto Unión non-financial correspondent points, and Retiros Ya external merchant cash-withdrawal locations, collectively covering approximately 95% of municipalities. Core credit products include UNICASA housing (with 30-year Banca Mujer terms), UNIAUTO/UNIAUTO VERDE vehicle financing, UNICRÉDITO consumer loans, Pyme Ganadero agricultural lending, and corporate credit; deposit products include Caja de Ahorro variants and DPF fixed deposits. Subsidiaries UNIBienes and Univida provide general and life insurance (including Mujer Segura and Agro Seguro Soya), while SAFI Unión and Valores Unión provide investment fund administration and brokerage.
Revenue mechanics combine (1) interest income from a diversified credit portfolio of approximately 30% PyME/Microcredit, 29% Corporate, 28% Housing, and 9% Public Servant Consumption, (2) transaction and service fees on digital banking, ATM withdrawals, and Western Union remittances, (3) government banking services including salary payments, treasury services for the Central Bank of Bolivia, and tax collection, (4) foreign exchange operations, and (5) insurance premiums from subsidiaries. Pricing is predominantly rate-based and quote-driven with promotional tiers such as OFERTASA credit card rates (6% first month, 10% to 12 months) and differentiated Banca Mujer terms; digital banking access is provided free to account holders. Under its state-mandated redistributive model, the bank reinvests 100% of profits into infrastructure and coverage expansion, evidenced by nine new agencies opened in 2022 alone, the Bs 170 million first bond issuance (June 2022) at AAA rating, and the continued rollout of new products (YASTA, Retiros Ya, INCUBAUNIÓN ecosystem programs) through 2024–2025.
Banco Unión firmographics
Firmographics- Name
- Banco Unión
- Legal name
- Banco Unión S.A.
- Website
- https://bancounion.com.bo
- Company type
- Private
- Founded year
- 1994
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Banco Unión S.A. is the state-owned commercial bank of Bolivia, the largest in the country by assets (USD 6.685B) and credit portfolio (USD 3.6B+), serving retail, corporate, SME, microcredit, and government segments across 95% of municipalities via 790+ service points and digital platforms including the YASTA mobile wallet for the unbanked.
- Ownership category
- akta.pro rank
Banco Unión industry classification
Industry- Product category
- Retail Banking
- NAICS
- Commercial Banking (52211), Depository Credit Intermediation (5221)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- Public Sector Retail Banks (State-Owned Commercial Banks) (FSABAKAL)
- akta.pro secondary industries
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE), Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)
Keywords
Where Banco Unión is headquartered
LocationHeadquarters
- HQ city
- La Paz
- HQ country
- Bolivia
- HQ region
- Latin America
Offices11 records
Markets served
Banco Unión business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Interest Income from Credit Portfolio: Primary revenue stream from diverse credit portfolio including corporate lending, SME financing, microcredit, housing loans, and consumer credit. Portfolio composition includes 30% PyME/Microcredit, 29% Corporate, 28% Housing, 9% Public Servant Consumption, and remaining in other categories.
- Transaction and Service Fees: Fees from electronic banking transactions, ATM withdrawals, transfers, account management, and digital payment services through UNInet Plus and UNImóvil Plus platforms
- Government Banking Services: Services provided to Bolivian government including public servant salary payments, social benefit distribution (Bono Juancito Pinto, Renta Dignidad, Bono Juana Azurduy), tax collection, and treasury services for Central Bank of Bolivia
- Foreign Exchange Operations: Currency trading, international transfers via Western Union partnership, and foreign currency sales to population
- Insurance Services through Grupo Unión: Revenue from insurance products through subsidiaries UNIBienes (general insurance) and UNIVida (life insurance), including Agro Seguro Soya for agricultural sector
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Credit Card OFERTASA promotional rate for balance transfers |
| Subscription | Monthly | Banca Mujer differentiated terms |
| Subscription | Annual | DPF Promotional time deposits |
| Freemium | Monthly | Digital Banking Services |
Go-to-market motion1 record
Distribution channels7 records
Marketing channels5 records
Banco Unión product offering
Product offeringCore offering
Banco Unión S.A. is a state-owned universal commercial bank offering retail banking (savings, deposits, credit cards, consumer and housing loans), corporate banking (working capital, investment capital, trade finance, foreign exchange), SME and microcredit lending, and government banking services (public servant salary payments, social benefit distribution, treasury services for the Central Bank of Bolivia). Distribution is delivered through 176+ branches, 475 ATMs, mobile Sariri units, Punto Unión correspondents, UNInet Plus internet banking, UNImóvil Plus mobile banking, and the Yasta mobile wallet for unbanked populations.
Product overview
Banco Unión operates as a multi-segment state-owned bank offering a comprehensive portfolio of digital banking channels (UNInet Plus, UNImóvil Plus, YASTA wallet), credit products (UNICASA housing, UNIAUTO vehicle, UNICRÉDITO personal, Pyme Ganadero, corporate credit), deposit products (savings accounts, fixed deposits), insurance (Mujer Segura, Agro Seguro Soya), and payment services (QR payments, Western Union remittances, Punto Unión correspondents, Retiros Ya cash withdrawals). The bank serves retail, corporate, SME, microenterprise, and government segments with physical branches, mobile units (Sariri), digital platforms, and correspondent networks. Notable recent launches include YASTA mobile wallet (2024) for financial inclusion and various INCUBAUNIÓN incubator programs for entrepreneurship support.
Differentiator
Problem solved
Functional benefit
Brands
- YASTA: Mobile wallet application for financial inclusion, allowing payments, transfers, and QR transactions without requiring a bank account.
- UNIMóvil Plus
- UNINet Plus
- Banca Mujer
- Punto Unión
- Agencia Móvil Sariri
- Retiros Ya
Products and services
- YASTA Mobile Wallet Mobile wallet application enabling financial transactions (QR payments, transfers, ATM withdrawals without debit card, phone credit reload, and SEGIP identity card renewal via QR) for users without bank accounts. Includes biometric authentication validated against SEGIP identity services.
- UNInet Plus Internet Banking Internet banking platform enabling customers to perform balance inquiries, service payments, fund transfers, deposits, and Western Union remittances 24/7.
- UNImóvil Plus Mobile Banking Mobile banking application allowing customers to access accounts, make payments, transfers, and access services including Retiros Ya cash withdrawal feature and Western Union remittances.
- UNICASA / Unicasa Vivienda Social Housing Loan Social housing loan product enabling low-income families to acquire homes with government-supported financing terms, including the Unicasa Vivienda Social variant.
- UNIAUTO / UNIAUTO VERDE Vehicle Loan Vehicle financing product for individuals and companies, including UNIAUTO VERDE for hybrid and electric vehicles with up to 90% financing.
- UNICRÉDITO Personal Loan Personal credit product for consumer financing with competitive interest rates.
- Tarjeta de Crédito Credit Card
Quantifiable outcome
- Financial inclusion for 95% of municipalities through 790+ service points
- +4 more outcomes
Companies that use Banco Unión
Customer profileNamed customers6 records
Segments7 records
Ideal customer profiles6 records
Banco Unión technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
AI capability2 records
Feature5 records
Banco Unión partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered minor and core.
- ICBC (Industrial and Commercial Bank of China)minorAgreement signed making ICBC (world's largest bank) a strategic partner, strengthening international banking relationships and trade finance capabilities
- FEGASACRUZ (Federación de Ganaderos de Santa Cruz)corePyME Ganadero credit product partnership benefiting 33,000+ cattle producer members with capital operations financing (36 months), capital investment (12 years), up to 36 months grace period, and financial education programs
- MIGA (Movimiento de Integración Gastronómico Alimentario Boliviano)minorAgreement to support sustainable food systems through promotion of Andean super foods (Quinua, Cañahua, Tarwi, Amaranto), including 'Migacomunica' educational series, 'Miga Unión' producer meetings, and 'Hub de las 4 Magníficas Andinas' value chain program
- PROFIN (Proyecto Seguros Inclusivos - Cooperación Suiza)coreJoint development of Agro Seguro Soya crop insurance product protecting soybean producers against climate risks (drought, excess water), with technical support for product refinement and market testing
- Western UnioncoreInternational remittance partnership enabling money transfers through Banco Unión's physical network and digital channels (UNInet Plus, UNImóvil Plus), with joint promotional campaigns including vehicle and motorcycle giveaways for loyal customers
- FLADES (Fundación Latinoamericana para el Desarrollo)minorPartnership supporting Chiquitania region with environmental projects including 136-meter well construction and solar-powered drip irrigation systems for 8 communities in Santa Ana de Velasco, promoting sustainable agriculture and food security
- Banco Provincia de ArgentinaminorPartnership for international commerce seminars and Trade Helpdesk platform access to find new suppliers/buyers, optimizing trade services with neighboring countries
- SEGIP (Servicio General de Identificación Personal)coreBiometric identity verification integration for Yasta wallet authentication and QR payment system for identity document renewal (cédula) and CUDAP police clearance certificates
- UNIBienes (Insurance Subsidiary)coreInternal insurance subsidiary providing general insurance products including Agro Seguro Soya, with top ranking in ROE (58.8%) and second in ROA (15.2%) among Bolivian insurers
- UNIVida (Life Insurance Subsidiary)coreInternal life insurance subsidiary providing health and life coverage including Mujer Segura women's health insurance with cancer prevention, ranking among top 3 Bolivian life insurers
Scale indicators18 records
Recent moves9 records
Expansion highlights6 records
Banco Unión competitors and assessment
Company assessmentBroad incumbents
- BancoEstado: Chile's state-owned commercial bank with universal banking services and financial inclusion mandate. Highly comparable to Banco Unión as a state-owned universal bank focused on serving all segments including underserved populations, though in a more developed market.
- Banco de la Nación Argentina: Argentine state-owned commercial bank serving as a universal bank with government banking relationships. Comparable to Banco Unión in the state-owned bank category with similar mandate for financial inclusion and government payment distribution.
- Banco do Brasil: Brazilian state-owned commercial bank, the largest in Latin America by assets. Comparable to Banco Unión as another state-owned bank with government banking mandate, universal banking services, and similar financial inclusion mission, though operating at vastly larger scale.
Regional players
- Banco de Desarrollo Productivo (BDP): Bolivian state-owned development bank focused on productive sector financing. Comparable to Banco Unión's SME/microcredit lending activities and state-owned mandate, though with a narrower focus on productive development rather than universal banking.
Direct peers
- Banco Ganadero: Bolivian commercial bank with strong agricultural and SME lending focus. Comparable to Banco Unión in serving SME and agricultural segments, though without the state-owned mandate or exclusive government banking relationships.
- Banco Fassil: Bolivian commercial bank offering retail and corporate banking services. Direct competitor to Banco Unión in the Bolivian commercial banking market with similar geographic coverage and product offerings.
- Banco Nacional de Bolivia: Bolivian commercial bank offering universal banking services including retail, corporate, and SME banking. A direct competitor to Banco Unión with similar product breadth but private ownership and different geographic focus.
- Banco FIE: Bolivian commercial bank specialized in microfinance and SME lending, particularly for productive sectors. Comparable to Banco Unión's microcredit segment with similar focus on financial inclusion and rural lending.
- Banco Mercantil Santa Cruz: One of Bolivia's largest private commercial banks offering retail, corporate, and SME banking services. Directly competes with Banco Unión across all customer segments in the Bolivian market, though without the state-owned mandate and exclusive government relationships.
- Banco de Crédito BCP Bolivia: Bolivian subsidiary of the regional BCP group, providing commercial and retail banking services. Directly competes with Banco Unión in the Bolivian retail and SME banking market with similar product offerings.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Banco Unión social profiles
Digital presenceBanco Unión compliance and trust
Trust signalCompliance3 records
Banco Unión financial estimates
Financial estimateRevenue estimate
Valuation estimate
Banco Unión leadership team
Management profileNumber of profiles
Profiles13 records
Banco Unión subsidiaries and ownership
Company hierarchySubsidiaries4 records
Banco Unión funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Banco Unión M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Banco Unión
What does Banco Unión do?
Banco Unión S.A. is a state-owned universal commercial bank offering retail banking (savings, deposits, credit cards, consumer and housing loans), corporate banking (working capital, investment capital, trade finance, foreign exchange), SME and microcredit lending, and government banking services (public servant salary payments, social benefit distribution, treasury services for the Central Bank of Bolivia). Distribution is delivered through 176+ branches, 475 ATMs, mobile Sariri units, Punto Unión correspondents, UNInet Plus internet banking, UNImóvil Plus mobile banking, and the Yasta mobile wallet for unbanked populations.
Is Banco Unión a public or private company?
Banco Unión is a private company. It is classified as state government owned and is currently operating.
When was Banco Unión founded?
Banco Unión was founded in 1994. It employs 1,001 to 5,000 people.
Where is Banco Unión based?
Banco Unión is headquartered in La Paz, Bolivia, in the Latin America region.
How does Banco Unión make money?
Five revenue lines are on record. Interest Income from Credit Portfolio is the primary driver. The others are transaction and Service Fees, government Banking Services, foreign Exchange Operations and insurance Services through Grupo Unión.
Who are Banco Unión's main competitors?
Broad incumbents on record are BancoEstado, Banco de la Nación Argentina and Banco do Brasil. Banco de Desarrollo Productivo (BDP) is listed as a regional player. Direct peers are Banco Ganadero, Banco Fassil, Banco Nacional de Bolivia, Banco FIE, Banco Mercantil Santa Cruz and Banco de Crédito BCP Bolivia.
Does Banco Unión have an API?
No public API is recorded for Banco Unión.
What industry is Banco Unión in?
Banco Unión's product category is Retail Banking. Its primary akta.pro industry code is FSABAKAL, Public Sector Retail Banks (State-Owned Commercial Banks), with a secondary code of FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings). Its NAICS code is 52211 and its SIC code is 6022.