AUB net income up 23% in 2017

Asia United Bank Corp. (AUB) reported a 23-percent increase in net income last year, driven by higher lending.

In a regulatory filing submitted by corporate planning officer Kristel Guto on Wednesday, AUB reported a net income of P2.8 billion in 2017.

“During the period, total loans increased by 34 percent to P131.1 billion. This enabled the AUB Group to book a net interest income of P6.5 billion, 15 percent higher than in 2016,” it said.

“We are confident that AUB will show accelerated growth on our core lending business as we cater to the needs of corporates and small and medium enterprises,” AUB president Manuel Gomez said.

“We are making headways in the consumer market, particularly in credit cards, salary and pension loans,” he said. —Jon Viktor Cabuenas/VDS, GMA News