Asia United Bank (AUB) and its subsidiaries posted a net income of P2.3 billion for the year 2016, 52 percent higher than the P1.5 billion the year before. Total assets stood at P165.5 billion, 8 percent higher than the same period in 2015.
AUB’s gross interest revenue rose to P7.3 billion, 19 percent higher. This was aided by a 22-percent growth in commercial and consumer loans. This enabled the group to book a net interest income of P5.7 billion, a 19-percent growth versus 2015.
“We will continue to show strong growth in our core lending business to corporates and SMEs [small and medium enterprises]. We are also making headways in retail products, auto loans mortgages, salary loans and remittances,” AUB President Abraham T. Co said.