AUB profit jumps to all-time high

Rebisco-led Asia United Bank (AUB) and its subsidiaries saw earnings jump by 36 percent to a record high of P11.3 billion in 2024 from P8.3 billion in 2023.

- By KEISHA TA-ASAN

The bank traced the strong performance last year to double-digit growth in loan portfolio and a steady decline in loan loss provisions.

AUB president Manuel Gomez, in a statement, said the sustained growth in profitability was due to the bank's robust core business and digital partnerships.

"AUB is able to reach out to many Filipinos, including the unbanked and underserved, to offer digital payment solutions such as our all-in-one digital payment acceptance product AUB PayMate, as well as revolutionize cross-border digital payments through our HelloMoney e-wallet, among others," Gomez said.

The latest income figure translated to an increase in return on equity of 21 percent from 18.6 percent and a return on assets of three percent from 2.4 percent—both record highs since the bank had its initial public offering in 2013.