UnionBank nets P3.8B in Q1 2026

Aboitiz-led UnionBank of the Philippines saw its bottom line jump by 167% to P3.8 billion in the first quarter of 2026, driven by strong performance in its core business.

The net income growth was supported by an 11.8% increase in revenues to P21.7 billion as total customers grew 7.6% year-on-year to 18.9 million.

UnionBank’s net interest income also rose to P16.8 billion driven by loan growth.

Consumer lending, which makes up 60% of the bank’s total loan portfolio, stood at P153.1 billion, up by 19.2%.

Moreover, the bank’s institutional loans stood at P223.7 billion, up by 11.5%.

“We are carrying over strong momentum, building on the actions we took in 2025 to strengthen our balance sheet and lay the foundation for sustainable growth. First quarter results provide an early indication that the bank is continuing its path to improved performance. However, recent geopolitical developments introduced potential risks,” said UnionBank chief financial officer Manuel Lozano.

“In response, we took proactive measures to reinforce our portfolio and enhance credit risk management. Our immediate focus is to ensure we effectively navigate the impact of recent developments. We are strongly positioned in terms of capital and liquidity, and we remain focused on protecting earnings to maintain our good performance despite the heightened market volatility,” he added. — JMA, GMA News