AUB's net income rises by 34% in QI

ASIA United Bank Corp. (AUB) and its subsidiaries saw its consolidated net income rise by 34% year on year in the first quarter amid strong lending growth and its digital partnerships.

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The AUB Group’s consolidated net earnings climbed to P3.1 billion in the first three months from P2.3 billion a year prior, the bank said in a disclosure to the stock exchange on Tuesday.

This translated to a return on equity of 22.3% and a return on assets of 3.4%, up from 20% and 2.8% a year prior, respectively.

The bank’s financial statement was unavailable as of press time.

"We have managed to sustain the growth in our profitability since the pandemic, thanks to our robust core business and digital partnerships," AUB President Manuel A. Gomez said.