ASIA United Bank Corp. (AUB) and its subsidiaries saw its consolidated net income surge in the first semester amid a higher total operating income and lower loan loss provisions. READ:
ASIA United Bank Corp. and its subsidiaries booked a higher consolidated net income in the first semester. — BW FILE PHOTOrst semester amid a higher total operating income and lower loan loss provisions.rst half of the year, rising by 50% from the P1.9 billion seen a year prior, the listed bank said in a disclosure to the stock exchange on Monday.
“We are pleased to note that these profitability ratios are among the highest, if not the best, in the industry, as far as published reports of other publicly listed banks go,” Mr. Gomez said. “Interest income from loans and receivables remained flattish at P5 billion while interest income from trading and investment securities grew 56%, year on year,” AUB said in the statement.
Meanwhile, the group’s non-interest income increased by 42% to P1.1 billion from P743 million, which the bank, in its statement, attributed to better trading and foreign exchange gains and higher transaction fee income.
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