Asia United Bank net income up 44% in H1

Asia United Bank (AUB) and its subsidiaries posted a net income of P1.23 billion in the first half of 2016, up by 44 percent from a year earlier on the back of strong gains from its lending and trading activities.

AUB's interest income reached P3.5 billion, up by 25 percent, driven by growth in commercial and retail loans which stood at P2.7 billion from P2.1 billion year-on-year, the bank said in a disclosure to the Philippine Stock Exchange on Friday.

As of December 2014, AUB had three subsidiaries, namely, Asia United Leasing and Finance Corp., Rural Bank of Pampanga, and Cavite United Rural Bank.

"AUB is among the top 20 banks in the Philippines with an asset size of P155.4 billion, up 18 percent," the bank said in a disclosure to the Philippine Stock Exchange. — John Ted Cordero/VVP, GMA News