UNIONBANK of the Philippines, Inc. booked a net income of P12.673 billion in 2022 amid improved net revenues and net interest income. READ:
UNIONBANK of the Philippines, Inc. booked a net income of P12.673 billion in 2022 amid improved net revenues and net interest income.
Deposits with the bank grew by 25% to P711.3 billion amid the expansion of its retail customer base and “the strong take up of cash management products from large corporates.” “Fees and other income doubled to P13.4 billion largely due to the consolidation of the acquired Citi consumer business, as well as growing digital customer transactions,” it added.The transaction, valued at P55 billion, covers Citi’s credit card, unsecured lending, deposit and investment businesses, as well as Citicorp Financial Services and Insurance Brokerage Philippines, Inc., which provides insurance and investment products and services to its retail clients.
UnionBank’s total assets stood at P1.09 trillion at end-December 2022, up from P831.095 billion in 2021.
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