AUB nets P9.4 B in 9 months

Asia United Bank (AUB) and its subsidiaries reported a nine percent increase in net income to P9.4 billion from January to September compared to P8.6 billion a year ago, driven by higher revenues and improved operational efficiency.

- By Keisha Ta-Asan

This translated to a return on assets of 3.2 percent and a return on equity of 20.4 percent as of end-September, sustaining the bank’s double-digit profitability.

Total operating income rose by 10 percent to P17.2 billion from P15.6 billion, supported by a 22-percent growth in earning assets to P390.6 billion.

Net interest income climbed by eight percent to P13.5 billion, keeping the bank’s net interest margin ratio at five percent.

Non-interest income also expanded by 18 percent to P3.7 billion, driven by stronger trading and foreign exchange gains as well as higher fee-based revenues from credit cards, AUB PayMate, HelloMoney and remittance transactions.