AUB 9-mo income hits P1.8B, up 52.1%

Rebisco group-led Asia United Bank reported a 52.1-percent year-on-year growth in nine-month net income to P1.8 billion on higher financial intermediation activities.

“Despite lowering interest spreads and scant trading opportunities, the AUB Group sustained its double-digit growth through increases in loans and deposits,” the bank said in a statement on Monday.

The AUB Group, composed of publicly listed universal bank AUB and two rural bank units, grew its loan book by 10.9 percent year-on-year in the first nine months to P95.8 billion.

On the funding side, deposits likewise grew by 7.9 percent year-on-year to P121.5 billion as of end-September. –Doris Dumlao-Abadilla