Asia United Bank, the financial arm of the Rebisco Group, said unaudited consolidated net income rose slightly in the first three quarters to P2.3 billion from P2.2 billion a year ago, driven by strong growth in loans.
AUB said in a statement Thursday the January-to-September performance translated into a return on assets of 1.4 percent and return on equity of 11.2 percent.
Boosting its bottom line was the 25.8-percent growth in loans and receivables to P146.1 billion from P116.2 billion a year earlier. Propelling the growth were commercial loans and other loan segments such as auto, housing, and salary loans, which all posted double-digit growths.
“Amid the continuing volatility in the financial markets and the challenging business environment, we remain confident that AUB will show accelerated growth as we cater to the needs of corporates and small and medium enterprises,” AUB president Manuel Gomez said.
Higher loans boosted the groups’ total assets by 18.3 percent to P230.3 billion from P198.0 billion.