AUB books P2.8B income in 2017
Upbeat lending allowed the Asia United Bank (AUB) to prosper.
The bank owned by bilyonaryo Jacinto Ng reported a P2.8-billion net income for 2017, which grew by 23 percent year-on-year.
A 34 percent increase in loans drove the strong growth for the bank’s bottom line, totaling P131.1 billion. Net interest income jumped 15 percent to reach P6.5 billion, AUB said in a disclosure.
?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.”