Announcements

• testing new announcement


• second announcement


• test announcement


• BRANCH ADVISORY
  Kindly be advised that in line with the announcement of the Bank of England, paper GBP 20 and GBP 50 banknotes will no longer be legal tender after September 30, 2022.
  All AUB Branches will no longer accept and sell these said denominations after September 9, 2022.


• AUB on track to beat pre-pandemic performance
  Asia United Bank (AUB) and its subsidiaries posted a consolidated net income of P2.9 billion in the first half of the year, 50% higher than the P1.9 billion recorded in the same period in 2021. The group attributed its stellar performance to higher total operating income and lower provision for credit and impairment losses.
  "We remain on track with our target to return to our pre-pandemic net income performance of P4.4 billion, especially as the economy gradually reopens," said AUB president Manuel A. Gomez.
  The Group's net income translated to a Return on Assets of 1.8% and a Return on Equity of 15.8% from 1.2% and 11.0%, respectively, in 2021. "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 added.
  The group's total operating income increased by 12% to P6.9 billion as of June 30 from P6.1 billion a year ago, boosted by higher net interest income and other operating income.
  Net interest income rose by 8% to P5.8 billion from P5.4 billion in same period last year due to an increase in interest income and lower interest expense. Interest income from loans and receivables remained flattish at P5 billion while interest income from trading and investment securities grew 56%, year-on-year.
  The group generated a P23-billion increase in low-cost current account/savings account (CASA) deposits which reached P222 billion as of June 30, 2022. This led to a CASA-to-total deposits ratio of 84% from 71% in the same period in 2021. Coupled with the retirement of high-cost deposits, this drove down the group's interest expense by 20% to P742 million from P922 million during the first half of 2021.
  Improved trading and foreign exchange gains and an increase in transaction fee income led to a 42% rise in the group's non-interest bearing income to P1.1 billion from P743 million.
  Better asset quality led to a further reduction in non-performing loans (NPL) ratio to 1.8% from 2.0%. This allowed the group to set aside lower provision for credit and impairment losses by 43% to P511 million from P897 million in the same period last year. The group also continues to efficiently manage its cost, with operational expenses flat at P2.7 billion, resulting to a cost-to-income ratio of 40.0% from 45.0% a year ago.
  AUB remains as one of the top 20 banks in the Philippines with an asset size of P319.7 billion as of June 30.