Announcements

• AUB posts record-high P6.1B net income as of end-Q3
  Asia United Bank (AUB) and its three subsidiaries posted a record-high consolidated net income of P6.1 billion from January to September 2023, representing a 32% increase from P4.6 billion a year ago, on the back of sustained business volume and margin growth, and higher fee-based income.
  "With our stronger performance in the first three quarters, we expect to maintain our lead among the country's top ten listed universal banks in terms of compounded annual growth rate (CAGR) on key indicators since AUB was listed on the bourse in 2013," said AUB president Manuel A. Gomez.
  From 2013 to 2022, AUB topped the list with a CAGR of 18% in net income, 14% in total assets, 17% in total loans, and 16% in total deposits, according to publicly disclosed audited figures.
  In the first three quarters of 2023, the bank's ROE rose to 19.4% from 16.4% while ROA grew to 2.5% from 1.9% year-on-year (YOY).
  Total operating income for the nine-month period grew 21% YOY to P13.3 billion as net interest income jumped by 20% to P11.2 billion due to business volume growth and increased yields. Fee-based income rose 27% to P2.1 billion YOY.
  More robust corporate and consumer loans boosted total loan volume by 7% to P188.2 billion as confidence in the economy continued to improve. This resulted to a wider net interest margin of 4.9% from the previous year's 4.1%. Strong contributions to its fee-based income mainly came from AUB's operating activities such as trading businesses, credit cards, AUB PayMate, and remittance.
  While its loan volume swelled, the group was able to maintain its asset quality. Its net non-performing loans (NPL) ratio stood at 0.67% and gross NPL ratio stood at 2.14%, both below the banking industry's 1.37% and 3.11%, respectively, according to the latest data released by the BSP. AUB recognized provisions of P1.1 billion year-to-date, 12% above the P1.0 billion in the same period last year, strengthening its NPL coverage ratio to 107.0% as of September 30, 2023, from 89.1% the previous year.
  Loan growth was matched by an uptick in deposits, which climbed 8% to P284.5 billion from P262.3 billion YOY. Low-cost CASA (current account/savings account) deposits comprised 70.6% of the bank's total deposit base while its loan-to-deposit ratio stood at a healthy 66.2%.
  Operating expenses for the nine-month period rose 12% to P4.8 billion, primarily from the compensation increases and transaction volume-related expenses. However, AUB managed to keep its cost-to-income ratio down to 35.8% from the previous year's 38.6%.
  In the third quarter (July to September 2023) alone, the group recorded a P2.0-billion net income, 15% higher than the P1.7 billion in the same quarter last year as net interest income and non-interest income rose while provisions for credit losses fell.
  The bank's asset base expanded by 8% to P344.0 billion, while equity increased by 20% to P45.5 billion. This translated to a common equity tier 1 ratio of 16.12% and a capital adequacy ratio 16.77%, both well above the BSP's threshold.
  "While we are seeing that the domestic economy has emerged strongly from the pandemic and many sectors are now on the path to recovery, we remain cautious of the confluence of global shocks that are unravelling. We expect monetary policy to remain hawkish, with inflation still not kept at bay. On the other hand, we see plenty of room for growth and collaboration, particularly in digital transformation." said Mr. Gomez.


• AUB sustains gains with 42% surge in 1st-half net income
  Growing business volume, higher net interest margin, and better non-interest income enabled Asia United Bank (AUB) and its three subsidiaries to post P4.1 billion in consolidated net income in the first half of 2023 versus the same period a year ago. The 42% year-on-year (YOY) growth is among the highest so far reported among the country's publicly listed privately owned universal banks.
  The first-half income translated to higher profitability ratios, with Return on Equity (ROE) at 20.3% and Return on Assets (ROA) at 2.6%.
  The group's total operating income for the first half rose 30% YOY to P8.9 billion. This was on the back of a 28% increase in net interest income to P7.4 billion attributable to business volume growth and increased yields. Non-interest income rose 41% to P1.5 billion.
  Total loan volume increased by 9% to P190.5 billion boosted by growth from corporate and consumer loans as confidence in the economy further improved in the first half. This resulted to a wider net interest margin of 5.0% from the previous year's 3.8%. Strong contributions to the increases in service charges, fees and commissions, securities trading gains and foreign exchange gains came from AUB's operating activities such as remittance, credit cards, trust, AUB PayMate, and trading businesses.
  Total deposits stood at P269.9 billion, with low-cost CASA (current account/savings account) deposits comprising 72.5% of its total deposit base while its loan-to-deposit ratio stood at 70.57%.
  Operating expenses for the first six months of the year rose 13% to P3.1 billion, primarily from the compensation increases and transaction volume-related expenses. Despite the increase, AUB's cost-to-income ratio stood at 34.8%, lower than the previous year's 40.0%.
  While loans increased, the group was able to maintain its asset quality, with a non-performing loans (NPL) ratio of 0.85%, significantly below the banking industry's overall NPL ratio of 3.46% in May according to the latest data released by the Bangko Sentral ng Pilipinas (BSP).
  AUB recognized provisions of P952.0 million year-to-date, 86% above the P510.8 million in the same period last year, strengthening its NPL coverage ratio to 114.8% as of June 30, 2023, from 79.8% the previous year.
  In the second quarter (April to June) of the year alone, the group booked a quarterly net income of P2.1 billion, up 32% year-on-year. Total operating income reached P4.4 billion for the quarter, up 26%, owing to the increase in both net interest income and non-interest income.
  Total assets reached P327.7 billion as of the first half. Total equity was at P43.8 billion, with an indicative Common Equity Tier 1 Ratio of 15.42% and a Capital Adequacy Ratio of 16.00%, both well above regulatory requirements.
  "While we see continuous improvement in consumer and business confidence, we remain on the lookout for potential headwinds as monetary policy remains hawkish. However, we see plenty of opportunities in greater collaboration within and outside the organization, particularly in digital transformation, and this gives us confidence in sustaining our gains," said AUB President Manuel A. Gomez.


• REGISTER YOUR SIM CARD UNTIL JULY 25, 2023
  We wish to remind you to register your SIM Cards until July 25, 2023 in compliance with Republic Act No. 11934 or the SIM Registration Act.
  This aims to protect subscribers from mobile phone-related crimes and to keep the mobile numbers linked to your account up to date.
  Failure to register your existing SIM within the prescribed period may result in the automatic deactivation of your SIM, resulting in challenges for AUB in alerting you of account related notifications and reminders via SMS.
  Review the mobile number(s) linked to your bank accounts with AUB.
  Avoid SIM Card deactivation by visiting your telecommunications provider for the full details on their registration process.
  Visit your branch of account should you need to update the mobile number(s) linked to your accounts and in case your SIM card becomes deactivated after the prescribed registration deadline.
  Please coordinate with your telecommunications provider if you encounter issues during your SIM Card registration.
  Thank you for your cooperation.


• Ng elected AUB chairman
  Jonathan C. Ng has been elected Chairman of the Board of publicly listed universal bank Asia United Bank (AUB).
  Mr. Ng was elected during the organizational meeting of AUB's Board of Directors last July 4, 2023. He will take over the chairmanship from Abraham T. Co who was elected Vice Chairman.
  During the same meeting, retired Justice Adolfo S. Azcuna tendered his resignation as Director but will continue to serve as Senior Adviser to the Board.
  Mr. Ng was a member of AUB's board of directors from 1998 to 2016. He is currently the Vice Chairman of the family-owned Republic Biscuit Corporation (REBISCO) and holds the following concurrent executive positions in several companies under the REBISCO Group: President of Suncrest Foods Incorporated, President of Multirich Foods Corporation, Chairman/President of RBC Retail Stores Corporation, Chairman/President of SFI Multimix Corporation, Chairman of Omnipack Industrial Corporation, and Director of SPI Corporation. Mr. Ng is also a stockholder of RBC Best Baker Food, Inc. and Action Republic Corporation, as well as a trustee of Rebisco Foundation, Inc. He is also an Independent Director of Pico De Loro. He graduated with a Bachelor of Arts degree in Management Economics from the Ateneo de Manila University.
  The second of three sons of REBISCO and AUB founder and Chairman Emeritus Jacinto L. Ng Sr., Jonathan joins younger brother Jacob in the AUB Board. Aside from being a member of the Board, Jacob also serves as Executive Vice President and Head of Branch Banking Group and Chief Transformation Officer of the bank.
  AUB remains one of only two local commercial banks licensed during the 1997 Asian financial crisis that has since thrived and expanded its operations. The bank has been differentiating itself for its digital innovations, which include the country's first e-wallet issued by a local bank to be used for cross-border transactions (HelloMoney); pioneering payments via QR and the early adoption of the national QR PH code; and AUB PayMate, an all-in-one digital payment acceptance product.


• IMPORTANT REMINDER ON SIM CARD REGISTRATION
  In compliance with Republic Act No. 11934 or the SIM Registration Act which aims to protect subscribers from mobile phone-related crimes, we would like to remind you to register your SIM cards until July 25, 2023 to keep the mobile numbers linked to your accounts up to date.
  Failure to register your existing SIM within the prescribed period may result in the automatic deactivation of your SIM, resulting in challenges for AUB in alerting you of account related notifications and reminders via SMS.
  Review the mobile number(s) linked to your bank accounts with AUB.
  Register your mobile number(s) on or before April 26, 2023 to avoid deactivation.
  Visit your telecommunications provider for the full details on their registration process.
  Kindly visit your branch of account should you need to update the mobile number(s) linked to your accounts and in case your SIM card becomes deactivated after the prescribed registration deadline.
  Kindly coordinate with your telecommunications provider should you encounter issues during your SIM Card registration.
  For more information on how to update your account information, kindly coordinate with your branch of account.
  Thank you for your cooperation.