UnionBank Income Hits P1.4 B in Q1

Union Bank of the Philippines posted a 30-percent drop in net income in the first quarter of 2025 as one-time expenses weighed on its bottom line, even as revenues continued to grow.

- By KEISHA TA-ASAN

The Aboitiz-led bank reported a net income of P1.4 billion in the January to March period, down from P2 billion in the same period last year, as tax-related write-offs from a subsidiary and front-loaded non-recurring costs dragged earnings.

Despite the decline, Union Bank chief financial officer Manuel Lozano said the bank's underlying operations remained strong, supported by continued client acquisition, margin expansion and growth in fee-based income.