AUB posts record P8.6 billion net income in first nine months

Asia United Bank (AUB) achieved a record consolidated net income of P8.6 billion in the first nine months of 2024, a 41% increase from the previous year.

This growth was driven by increased revenues and a reduction in loan loss provisions, with net interest margin seeing an 11% improvement to P12.5 billion.

The bank's earnings for the period surpassed its entire net income for 2023, which was P8.3 billion.

AUB's return on equity improved to 22.4% and return on assets to 3.4% compared to the previous year.

President Manuel A. Gomez expects performance to remain robust, particularly with the integration of the National ID system to hasten account opening and Know Your Customer compliance.