LISTED Asia United Bank (AUB) on Thursday reported a consolidated net income of P8.6 billion for the first nine months of 2024, up 41 percent from P6.3 billion a year ago and surpassing its 2023 full-year profit of P8.3 billion.
LISTED Asia United Bank on Thursday reported a consolidated net income of P8.6 billion for the first nine months of 2024, up 41 percent from P6.3 billion a year ago and surpassing its 2023 full-year profit of P8.3 billion. AUB told the stock exchange that its return on equity grew to 22.4 percent from 19.4 percent, while its return on assets rose to 3.4 percent compared to last year's 2.5 percent.
AUB's nonperforming loans ratio stood at 0.53 percent, down from 0.7 percent last year, indicating the bank remains 'sufficiently covered from probable losses, with an NPL coverage ratio of 120.7 percent versus the previous year's 107 percent.'Total assets grew 2 percent to P352 billion from P344 billion last year, while total loan portfolio increased 6 percent to P198.9 billion.
Jan-Sept Profit Surges 41% To P8.6B
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AUB’s 9-month profit hit record high of P8.6bAsia United Bank (AUB) and its subsidiaries achieved a record-high consolidated net income of P8.6 billion in the first nine months of 2024, driven by
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