type defunct ; now part of union bank of the philippines industry finance and insurance founded manila philippines 1995 defunct 2007 headquarters makati philippines key people ramon y. sy president and ceo products financial services net income p755 million php 44 % 2005 1 number of employees 1 400 slogan taking relationships to heart website www.ibank.com.ph international exchange bank more commonly known as ibank was one of the largest banks in the philippines ranking within the top twenty in terms of assets . it was recently acquired by the larger union bank of the philippines in mid 2006 although the two banks remained separate . integration of the ibank brand into the unionbank brand was completed in mid 2008 . contents 1 history 2 ownership 3 see also 4 external links history edit ibank was founded as a commercial bank on august 17 1995 starting operations on september 25 of that year . it grew rapidly largely due to its consumer oriented services which proved to be popular at the time . it was one of the many banks formed during the 1990s when the administration of fidel v. ramos and bangko sentral ng pilipinas governor gabriel singson encouraged the formation of more banks a policy since reversed today . on september 22 2003 ibank joined megalink and unveiled its ideal atm card . at the time of its launch the ideal card was revolutionary in the sense that it was the first atm card to come with value added benefits such as shopping discounts . the bank listed on the philippine stock exchange on december 6 2004 under the ticker symbol ibnk . ibank was acquired by union bank of the philippines on june 5 2006 that saw 98.86 % of all ibank shares being sold in a block sale catapulting unionbank to become the seventh largest bank in the philippines in terms of assets . in a well attended event employees and stockholders gathered on september 25 2010 to commemorate the bank s 15th anniversary at the makati sports club . the reunion is unprecedented in the banking industry in the country where close to 600 employees organized to hold a program that rivals any other gathering by any existing bank as of september 2010 ; considering that the company was consolidated four years ago . ownership edit union bank of the philippines 98.86 % others includes public stock 1.14 % see also edit list of banks in the philippines megalink union bank of the philippines external links edit international exchange bank website courtesy of the wayback machine retrieved from https en.wikipedia.org w index.php title international exchange bank & oldid 738441231 categories banks of the philippinescompanies based in makatidefunct companies of the philippinesbanks established in 1995 navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 9 september 2016 at 00 03 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view