UnionBank nets P6.5B in 9M 2025

Aboitiz-led Union Bank of the Philippines (UnionBank) saw a 77% quarter-on-quarter improvement in the July to September period, driven by the sustained growth of its consumer business as loans posted double-digit growth.

In a regulatory filing, UnionBank said its third-quarter net income climbed to P3.2 billion, bringing its year-to-date net income to P6.5 billion.

“This quarter’s results keep us on track towards our growth outlook. The bank will continue to build on the progress made in strengthening operational resiliency and reinforcing the balance sheet,” UnionBank chief financial officer Manuel Lozano said.

Net revenues grew 7.2% to P60.5 billion, as unsecured consumer loans rose by 16% to P138.5 billion. Consumer loans accounted for 60% of total loans, nearly triple the industry average.

Net interest income grew to P47.5 billion, as net interest margins improved by 51 basis points to 6.4% on the back of the 9% year-on-year increase in low-cost current accounts / savings accounts (CASA) deposits that helped ease funding costs.

Operating expenses stood at P35.5 billion, while credit costs were recorded at P4.0 billion.

“Credit costs have stabilized while portfolio quality continues to improve. Combined with strong topline momentum, these developments position UnionBank for a positive growth trajectory in the future,” Lozano said.—AOL, GMA Integrated News