Announcements

• Former BSP chief Medalla rejoins AUB board
  The board of directors of Asia United Bank (AUB) has recently appointed seasoned economist and former Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla as independent director.
  "We welcome the appointment of Dr. Medalla who has accumulated a wealth of experience and expertise in banking, finance, and economics, both in the public and private sectors, in addition to being known for his professionalism and integrity, which will serve AUB well," said AUB chairman Jonathan C. Ng during AUB's annual stockholders meeting live streamed from the Joy-Nostalg Center in Ortigas, Pasig City last June 27.
  Dr. Medalla was an independent director of AUB. He was a member of the BSP's Monetary Board from 2011 to 2022, and served the remaining term of former BSP Governor Benjamin E. Diokno from July 1, 2022 to July 2, 2023. He has also served as Socioeconomic Planning Secretary and the Director General of the National Economic and Development Authority (NEDA) from 1998 to 2001 during the administration of former President Joseph Estrada. He holds a PhD in Economics from Northwestern University in the United States.
  He will reassume his position on the AUB board and replace Atty. Miro Quimbo who ran for reelection as congressman of Marikina's second district last May.


• AUB sees stronger results in 2025
  Asia United Bank (AUB) is confident of posting a stronger financial performance this year amid the geopolitical and economic headwinds buffeting the global markets.
  "We look to 2025 as a stronger year for the country, for the banking industry, and for AUB," AUB President Manuel A. Gomez said during the bank's annual stockholders meeting on June 27, live streamed from the Joy-Nostalg Center in Ortigas, Pasig City.
  He said behind this positive outlook are the following factors: sustained robust economic momentum in the country projected at 5.5% to 6% in GDP over the next two years, rising household income that will drive loan demand in the banking sector, and stable inflation to support domestic consumption and help maintain loan quality. "The continued progress in financial and economic digitization will also further strengthen the banking sector and should help Philippine banks cushion potential shocks arising from U.S. tariffs and other geopolitical issues," he said.
  These factors should provide a favorable landscape for AUB which has yet again "achieved record-breaking financial performance and delivered glowing KPI results" in 2024,he said. The bank posted a consolidated net income of Php11.35 billion, 37% higher than the previous year and "a historic high that was mainly driven by double-digit loan growth."
  "At AUB, we believe milestones are not meant to be reached, but to be surpassed. In 2024, we have done just that�¢?�¦We have marked yet another important milestone in the AUB story," he added.
  In "Digital Partner," AUB's 2024 Annual Report Magazine, the bank attributed its stellar performance to the following main growth drivers:
  > Its Corporate Banking business had a record-breaking year posting a 28% increase in net income-the highest in the banking industry-even as it was able to maintain a nonperforming loan (NPL) ratio of 0.3%, the lowest in the industry.
  > It established several fintech and remittance partnerships that enabled AUB to selectively lend to more qualified borrowers.
  > Its Consumer Lending business achieved a double-digit (17%) growth in booking volume as AUB continues to make its consumer loan products widely accessible to its customers through cross-selling in its branches and making them digitally available in its AUB Mobile App and website.
  > Through its 226-strong branch network, AUB's low-cost deposit (current account savings account or CASA) remains its primary source of funding, comprising 71% of total deposits.
  > By seizing opportunities from the heightened volatility and deploying excess liquidity timely before the Bangko Sentral ng Pilipinas (BSP) reduced its overnight rates, its Treasury and Trust and Investments businesses reaped significant gains.
  Mr. Gomez said the bank has also "made significant strides in enhancing (its) broader digital banking ecosystem." The AUB Mobile App now offers clients a more intuitive interface and expanded features, including enabling users to conveniently invest in UITFs, open additional savings accounts, and apply for salary, housing, and motor vehicle loans all from the convenience of their mobile devices.
  In 2024, AUB made history as the first Philippine bank to partner with the Philippine Statistics Authority (PSA) and the Department of Information and Communications Technology (DICT) by integrating the National ID's e-Verify system into its HelloMoney e-wallet. The bank also marked the fifth anniversary of HelloMoney which has already gained six million customer accounts as of December 2024.
  While elevating the digital banking experience, AUB is also transforming its physical branches to reflect "a redefined AUB brand of service - one that seamlessly blends digital convenience with human connection and places the customer experience at the heart of everything we do," Mr. Gomez said.


• AUB's HelloBale reaches over a billion availment
  Asia United Bank (AUB) announced that its innovative salary cash advance offering, HelloBale, has reached over a Billion in total loan availment as of May 2025 - a year since it was launched as a lending feature in its HelloMoney e-wallet.
  "This achievement underscores the growing demand for accessible financial services among Filipino workers and the success of integrated payroll-based lending solutions," said AUB president Manuel A. Gomez.
  Formally launched in March 2024, HelloBale allows users of the HelloMoney app to make a single cash advance ranging from PHP1,000 to PHP15,000, in increments of PHP100. The credit limit (the maximum amount a user can avail in one payroll period) is predetermined by the Bank through the Bank's efficient credit initiation and evaluation process.
  Unlike other similar products, HelloBale is zero interest. Instead, a processing fee is applied. The processing fee will be deducted from the proceeds of the HelloBale loan availed.
  Currently, more than 600 companies use AUB's HelloMoney e-wallet for payroll disbursement. Qualified employees of these companies formed HelloBale's customer base, enabling AUB to process around 500,000 HelloBale transactions from its launch up to May 2025.
  "This milestone reflects HelloMoney's commitment to addressing the financial needs of working Filipinos by providing instant access to credit when they need it most. By partnering with companies that use HelloMoney for payroll disbursement, HelloBale has created a streamlined lending ecosystem that benefits both employers and employees," Mr. Gomez added.
  "This also highlights the growing importance of fintech solutions in advancing financial inclusion in the country," said Wilfredo E. Rodriguez Jr., Head of Operations and Technology Group of AUB. "By leveraging our existing payroll relationships and digital wallet infrastructure, the platform has removed traditional barriers to credit access, enabling more Filipinos to meet their immediate financial needs without going through the usual lengthy approval process."


• AUB extends HelloMoney use to OFWs via Taptap Send
  Asia United Bank (AUB) recently partnered with global remittance platform Taptap Send to enable overseas Filipino workers (OFWs) to send money to their loved ones in the Philippines in a faster, easier, and more affordable way via its e-wallet HelloMoney.
  OFWs across more than 15 countries-including the United States, Canada, United Kingdom, United Arab Emirates, Australia, and those in Europe-to use the Taptap Send app to send money directly to HelloMoney e-wallets. OFWs' family members in the Philippines can instantly receive funds and conveniently use them for bills payment, online shopping, QR Ph payments, and fund transfers.
  "At HelloMoney, our goal has always been to simplify everyday financial transactions for Filipinos. Through our partnership with Taptap Send, we are now able to bridge the distance between OFWs and their families in a way that is fast, secure, and cost-effective," said Wilfredo E. Rodriguez Jr., Head of Operations and Technology Group of AUB.
  Taptap Send has gained popularity amongst Filipino OFWs for its zero sending fees, competitive exchange rates, and easy-to-use app experience. With HelloMoney as the receiving platform, the process becomes seamless, allowing beneficiaries in the Philippines to access their remittances instantly through a secure, app-based wallet backed by AUB. As part of the partnership, Taptap Send will roll out special promotions and discounts for first-time users sending to HelloMoney accounts.
  The collaboration reflects both companies' shared mission of financial inclusion and empowerment, connecting Filipino families and communities through fast and reliable digital financial services.
  To send money to the Philippines, OFWs can download the Taptap Send app on iOS, Android and AppGallery, select AUB as the receiving partner, and enjoy stress-free remittances.


• AUB gets boost from growing demand for renminbi in PHL
  Growing acceptance of the Chinese renminbi (RMB) in cross-border trade and international payments has been giving Asia United Bank (AUB) a boost.
  The publicly listed universal bank was recently awarded for having the "Highest RMB Trading Volume for the Year 2024" given by the Philippine RMB Trading Community set up by 14 member banks in 2018. This was the third consecutive year that AUB received the award from the Bank of China (Hong Kong) Ltd. - Manila Branch tasked to actively support the deepening development of RMB internationalization in the Philippines. AUB also ranked first in terms of "highest incremental RMB-PHP trading volume in 2024 vs. 2023" and third in the "highest clearing volume" and "highest RMB deposits" categories.
  "We recognize the growth of RMB trade as a key enabler in strengthening the economic ties between the Philippines and China, and we at AUB are proud to contribute to this important endeavor," said AUB President Manuel A. Gomez.
  The increased demand for RMB also "underscores the growing acceptance of the currency's use in the settlement of trade flows between the Philippines and China," added AUB Head of Treasury Antonio V. Agcaoili Jr.
  While tension has been rising globally over the United States' protectionist policies on trade such as the imposition of additional tariffs on imports, China has been steadily working to elevate the international profile of the RMB. "The Chinese government's push for the opening of financial markets and Bank of China's role in the Philippines to facilitate it enhances the ease of foreign exchange conversion from Philippine peso to RMB. Bank of China also ensures a reliable payment infrastructure that benefits small businesses scattered all over the Chinese mainland through BOC's extensive branch network," Mr. Agcaoili explained.
  Meanwhile, Mr. Gomez said the award bestowed on AUB is "a testament, not just to the efforts of our Bank, but also to the enduring partnership we share with the Bank of China who continue to promote the growth and vibrancy of RMB transactions in the Philippines. This achievement reflects the hard work, dedication, and collaboration of our entire team, from our frontliners to our backroom support groups, all working towards delivering seamless, reliable trade finance solutions to our clients."
  AUB has a dedicated Proprietary Trading Desk headed by a professional trader with more than four decades of experience. It also relies on having a highly proactive and responsive IT team that developed most of its frontline platforms in-house, which led to the flexibility and scalability of its IT infrastructure. Its front-end system includes a fully automated Straight-Thru-Processing (STP) payment platform that has garnered awards from AUB's correspondent banking partners for its "almost flawless" record of processing over 99% of transactions "in an error-free manner and consistently over an extended period," he said. The bank also invested on relationship management that focused on preaching the benefits of maintaining both PHP and RMB deposit accounts as "settlement accounts" for all clients' forex trades and other transactional needs.