Welcome to The Asia United Bank Official Website

Corporate Profile

Business Development


Asia United Bank Corporation (AUB) is among the very few banks that was granted a full-branch commercial bank license in 1997 and is operating until this day. In 2013, AUB joined the league of Philippine Banks that have become publicly listed and acquired universal banking status.

AUB was registered with the Securities and Exchange Commission (SEC) on October 3, 1997. Its registered office and principal executive offices are located at Joy-Nostalg Center, 17 ADB Avenue, Ortigas Center, Pasig City, Philippines.

AUB was granted the authority to operate as a commercial bank under the Monetary Board (MB) Resolution No. 1149 dated September 3, 1997 and commenced operations on October 31, 1997. In 2012, it obtained approval from the Bangko Sentral ng Pilipinas (BSP) to upgrade its license into expanded commercial banking status. In 2013, the Bank was granted an authority to operate as a universal bank under MB Resolution No. 356 dated February 28, 2013. The universal banking license authorizes, AUB, in addition to its general powers as a commercial bank, to exercise the following: (1) Powers of an investment house, including securities underwriting and trading, loan syndication, financial advisory, private placement of debt and equity securities, project finance and direct equity investment, and (2) Power to invest in allied and non-allied enterprises, subject to regulatory caps on the amount of investment relative to the Bankís capital and ownership percentage.

AUB began as a joint venture between a consortium of Filipino Industrialists (namely Jacinto L. Ng, Sr., Luis U. Ang and Jose S. Sandejas) and Taiwanese investment banks (namely China United Trust & Investment Corporation and China Development Industrial Bank). As of December 31, 2013, the Bank is now a publicly listed company with three principal/substantial stockholders: Republic Biscuit Corporation, Kuo Yu Philippines Holdings Corporation, and Lambda Holdings Corporation.

To expand its business and distribution network, AUB has acquired three subsidiaries as of December 31, 2014 as shown in the table below.

Subsidiary Principal Activities Country of Incorporation % Ownership
Rural Bank of Angeles Rural Banking Philippines 99.54%
Cavite United Rural Bank Rural Banking Philippines 100.00%
Asia United Leasing and Finance Corp (AULFC) and its 100% subsidiary, Asia United Fleet Leasing and Financing Philippines 39.00%

Review of the Past Three Years

Over the past three years, AUB has been steadily growing by building a strong and loyal client base through its careful and focused client generation activities and technological innovations for both its deposit-taking and lending businesses.

Consolidated Parent Company
2014 2013 2012 2014 2013 2012
Total Assets (in PhP billions) 124.793 105.046 64.998 122.533 103.536 64.057
% growth 18.8% 61.6% 29.3% 18.3% 61.6% 28.8%
Net Income (in PhP billions) 1.689 1.475 1.437 1.609 1.426 1.415
% growth 14.5% 2.7% 26.6% 12.8% 0.8% 23.9%
Branches 219 173 117 204 163 107
% growth 26.6% 47.9% 50.0% 25.2% 52.3% 48.6%

In 2012, AUB continued to post double-digit growth in profitability as its consolidated net income for the year increased by 26.6% to P1.437 billion. Total resources also expanded by 29.3% to P64.998 billion.

The Bank also formalized in 2012 its acquisition of the Cooperative Bank of Cavite (renamed Cavite United Rural Bank) and Asiatrust Development Bank. By end of 2012, it had expanded its network presence to 107 branches for the Parent Company and 122 for the Group.

2013 was another milestone year for AUB. Not only was the Bank able to post a strong financial performance and sustained engagement with its customers and partners, AUB also joined the league of Philippine Banks that have become publicly listed and acquired universal banking status. It held an initial public offering (IPO) of 88 million common shares on May 17, 2013, from which it was able to generate proceeds amounting to P7.458billion.

In line with the Bank's plan to double its consolidated branch network by end of 2015 from 122 in 2012, AUB opened 58 branches in 2013: 19 in Metro Manila and 37 in the provinces. In spite of the high operating expenses to fund its branch expansion, AUB grew its income by 2.7% to P1.475 billion. Total resources also grew by 61.6% from P64.998 billion in 2012 to P105.046 billion by end of 2013.

In 2014, the Philippines managed to again demonstrate its resilience in the face of growing global uncertainty. AUBís consolidated financial performance in 2014 reflected both the bankís ability to seize emerging opportunities from a growing economy, as well as the skillful execution of its business plans.

2014 saw the fulfillment of AUBís commitment during its IPO in 2012 to establish a branch network of at least 200. By end of 2014, the Parent Company had 204 branches and the Group had 219 branches, with 11 branches from RBA after its business combination with the Cooperative Bank of Pampanga was consummated on October 31, 2014.

Coming from a 2.7% net income growth in 2013, the Group posted a net income of P1.689 billion in 2014, 14.5% higher than P1.475 billion a year ago. The growth came amid the industry-wide decline in trading gains, which dragged most banksí bottom lines in 2014. The Groupís total assets increased by 18.8% from P 105.046 billion as of December 31, 2013 to P124.793 billion as of December 31, 2014 primarily driven by a more robust commercial and consumer loan portfolio.

AUBís achievements from 2012 to 2014 can be attributed to its principal competitive strengths:

  • Consistent balance sheet growth and profitability driven by an efficient operational structure;
  • Expanding nationwide distribution network resulting in consistently expanding deposit base;
  • Solid core customer base among SMEís and corporates and a growing retail base;
  • Tailored and innovative customer service and touch points supported by an advanced IT system;
  • Prudent balance sheet management with strong capitalization and liquidity to support growth; and:
  • Highly-experienced management team with proven track record. Asia United Bank Corporation (AUB) is among the very few commercial banks that was granted a full-branch license in 1997 and is operating until this day.