Asia United Bank said it and its subsidiaries' net income reached a record-high P8.6 billion.

Asia United Bank 10172024

Benise Balaoing

ABS-CBN News

<p>MANILA -- Asia United Bank (AUB) said it and its subsidiaries&#x27; net income reached a record-high <span id="isPasted" style="color:rgb(65, 65, 65);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none">P8.6 billion in the first 9 months of 2024. </span></p><div><span style="color:rgb(65, 65, 65);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none">The bank said this is a 41 percent jump from the numbers noted in the same period last year, and came because of higher revenues and lower loan loss provisions.</span></div><div><span style="color:rgb(65, 65, 65);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none">AUB said total assets grew 2 percent to P352 billion, while loans rose 6 percent to P198.9 billion. </span></div><div><span style="color:rgb(65, 65, 65);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none"><a href="https://news.abs-cbn.com/business/2024/3/15/aub-wants-more-diversified-loan-portfolio-in-2024-1502" rel="noopener noreferrer" target="_blank">AUB wants more diversified loan portfolio in 2024</a></span></div><p>This lender said, however, that this is sufficiently funded by deposits, which reached P282 billion.</p><p>Operating expenses jumped by 6 percent to P5 billion in 2023 aas the bank paid its employees more and spent more on new business
growth opportunities.</p><p>AUB&#x27;s net income reached P8.3 billion in 2023.</p><div><a href="https://news.abs-cbn.com/business/2024/2/5/aub-net-income-jumps-32-pct-in-2023-935" rel="noopener noreferrer" target="_blank">AUB net income jumps 32 pct in 2023</a></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/BmwVx3f8_Tk?&amp;ab_channel=ANC24%2F7autoplay=1&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div>

<p>Asia United Bank said it and its subsidiaries' net income reached a record-high P8.6 billion.</p>

Asia United Bank net income hits record high in first 9 months | ABS-CBN

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Asia United Bank net income hits record high in first 9 months

Asia United Bank net income hits record high in first 9 months

Benise Balaoing,

ABS-CBN News

Published Oct 17, 2024 12:09 PM PHT

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