Corporate Governance





Company Disclosures


Press Materials/News


Description Report Date
AUB's 1st-half Net Income Grows 17.5% Aug 9, 2018
SEC 17-C Press Release - AUB declares Cash Dividends May 30, 2018
AUB sustains profitability in 1st Quarter 2018 May 21, 2018
AUB posts fastest growth in 2017 Apr 25, 2018
AUB's 2017 net income up by 23% Mar 20, 2018
AUB posts 19% rise in 3rd qrtr. net income Nov 13, 2017
AUB's 1st-half net income rises 7% Aug 15, 2017
AUB Gets High Rating Jun 6, 2017
AUB's net income jumps 52% in 2016 Apr 4, 2017
AUB's 9 months net income up 52% Nov 11, 2016
AUB declares cash dividend Sep 30, 2016
AUB’s 1st-half income up 44% Jul 28, 2016
AUB’s 1st-qtr.net income jumps 27.6% May 13, 2016
AUB sees 43.8% jump in loans as of Q3 Nov 12, 2015
AUB Tier 2 offer oversubscribed Nov 12, 2015
AUB to strengthen capital base in drive to be among leading banks Nov 3, 2015
AUB hikes its net interest income by 17% but net income “flattish Aug 19, 2015
AUB Receives High Rating Jul 31, 2015
AUB net income up 119% in first quarter May 8, 2015
AUB end-2014 net income up 14% Feb 10, 2015
AUB net income up 62% Nov 5, 2014
AUB posts stronger 1st-half profit Aug 19, 2014
AUB steps up branch expansion as deposits sustain rise in Q1 Jun 10, 2014
AUB posts P1.5B net income in 2013 Feb 19, 2014
AUB to issue up to P2B worth of LTNCD Nov 27, 2013
AUB Long Term Negotiable Cert of Deposits Signing Nov 22, 2013
AUB Rural bank arm gets MB nod Oct 4, 2013
AUB partners with MasterCard Aug 8, 2013
AUB H1 2013 income jumps 37% Aug 5, 2013

Investor Relations Programs


AUB's Corporate Governance Manual revised July 25, 2014 states that: To ensure a high standard of best practice for the bank, its shareholders, and other stakeholders, the Board of Directors shall conduct itself with honesty and integrity in the performance of, among others, the establishment and maintenance of an investor relations program that will keep the shareholders and other stakeholders informed of important developments in the bank.



The first investor relations program of AUB was to form a Corporate Planning and Investor Relations unit, which shall be responsible for, among others, the establishment and maintenance of an investor relations program.



The first Investor Relations program of the unit was to ensure compliance with PSE and SEC disclosure rules, as well as other disclosure requirements under existing laws and regulations. These disclosures were made available to AUB’s shareholders through the following means:



Moving forward, AUB wants to assure its shareholders that we will try our best to (1) Inform and actively engage all our shareholders in matters that require or allow shareholder action and (2) Provide material information fully, fairly, timely, and accurately.


For investor relations, please write, email or call:
Kristel D. Guto - The Investor Relations Officer
33/F Joy-Nostalg Center, 17 ADB Avenue, Ortigas Center, Pasig City, Philippines
Email: investorrelationsoffice@aub.com.ph
Tel. Nos. (632) 638-8888 or 631-3333 local 169.

Share Information


Total Outstanding Shares

22. Equity


Capital stock consists of (amounts in thousands, except for par value and number of shares):

Shares Amount
December 31
2017 2016 2017 2016
Common - ₱10 par value
 Authorized
500,000,000 500,000,000 ₱5,000,000 ₱5,000,000
 Issued and Outstanding
 Balance at the beginning of the year

485,310,538

485,310,538

₱4,853,311

₱4,853,311


With the approval by the SEC on May 6, 2013, a total of 88,000,000 offer shares consisting of 80,000,000 firm shares and 8,000,000 optional shares pursuant to the over-allotment option were issued and offered by the Parent Company, with ₱10.00 par value per share through an initial public offering at ₱95.00 per share from May 7 to 14, 2013. The Parent Company’s shares were listed and commenced trading at the PSE on May 17, 2013.


The net proceeds from the IPO amounted to ₱7.46 billion, net of direct costs related to equity issuance of ₱0.48 billion.


Retained Earnings

On June 22, 2017 and September 25, 2017, the BOD of the Parent Company approved the declarations of cash dividends amounting to ₱485.31 million (or ₱1.00 per share) and ₱242.66 million or (₱0.50 per share) to stockholders of record as of July 7, 2017 and October 6, 2017, payable on July 26, 2017 and October 26, 2017, respectively.


On June 24, 2016 and August 26, 2016, the BOD of the Parent Company approved the declarations of cash dividends amounting to ₱325.16 million (or ₱0.67 per share) and ₱160.15 million (or ₱0.33 per share) to stockholders of record as of August 5, 2016 and September 12, 2016, payable on September 1, 2016 and October 6, 2016, respectively.


On May 15, 2015, the BOD of the Parent Company approved the declaration of the 50% stock dividend amounting to ₱1.62 billion equivalent to 161,770,178 shares at ₱10 par value to stockholders of record as of October 29, 2015 which was fully distributed on November 26, 2015.


Capital Management

The primary objective of the Group’s capital management is to ensure that the Parent Company complies with externally imposed capital requirements and that the Group maintains strong credit ratings and healthy capital ratios in order to support its business and to maximize shareholders’ value.


The Group manages its capital structure and makes adjustments to it in the light of changes in economic conditions and the risk characteristics of its activities and assessments of prospective business requirements or directions. In order to maintain or adjust the capital structure, the Group may adjust the amount of dividend payment to shareholders, return capital to shareholders or issue capital securities. No changes were made in the objectives, policies and processes from the previous years.


Regulatory Qualifying Capital

Under existing BSP regulations, the determination of the Parent Company’s compliance with regulatory requirements and ratios is based on the amount of the Parent Company’s unimpaired capital (regulatory net worth) reported to the BSP, determined on the basis of regulatory accounting policies, which differ from PFRS in some respects.


Effective January 1, 2014, the Group complied with BSP issued Circular No. 781, Basel III Implementing Guidelines on Minimum Capital Requirements, which provides the implementing guidelines on the revised risk-based capital adequacy framework particularly on the minimum capital and disclosure requirements for universal banks and commercial banks, as well as their subsidiary banks and quasi-banks, in accordance with the Basel III standards. The Circular sets out a minimum Common Equity Tier 1 (CET1) ratio of 6.00% and Tier 1 capital ratio of 7.50% and also introduced a capital conservation buffer of 2.50% comprised of CET1 capital. The existing requirement for Total Capital Adequacy Ratio (CAR) remains unchanged at 10.00% and these ratios shall be maintained at all times.


Basel III also requires that existing capital instruments as of December 31, 2010 which do not meet the eligibility criteria for capital instruments under the revised capital framework shall no longer be recognized as capital. In addition, capital instruments issued under BSP Circular Nos. 709 and 716 (the circulars amending the definition of qualifying capital particularly on Hybrid Tier 1 and Lower Tier 2 capitals) and before the effectivity of BSP Circular No. 781, are recognized as qualifying capital until December 31, 2015. In addition to changes in minimum capital requirements, this Circular also requires various regulatory adjustments in the calculation of qualifying capital.


On June 27, 2014, the BSP issued Circular No. 839, REST Limit for Real Estate Exposures which provides the implementing guidelines on the prudential REST limit for universal, commercial, and thrift banks on their aggregate real estate exposures. The Group should maintain CET1 and CAR levels at the regulatory prescribed minimums, on a solo and consolidated basis, even after the simulated results of a 25.00% write-off to the Group’s real estate exposures. These shall be complied with at all times.


Capital Adequacy Ratio (CAR)

The capital-to-risk assets ratio reported to the BSP as of December 31, 2017 and 2016 based on Basel III are shown in the table below (amounts in millions):

Consolidated Parent Company
2017 2016 2017 2016
Tier 1 capital
CET1 Capital*
Tier 2 capital
₱22,544
22,544
6,336
18,245
18,245
5,960
21,455
21,455
6,318
17,336
17,336
5,943
Total regulatory capital ₱28,880 ₱24,205 ₱27,773 ₱23,279

Risk Weighted Assets

₱184,150

₱133,742

₱179,216

₱129,855
*net of regulatory adjustments to CET1 Capital

Capital ratios
Total regulatory capital expressed as
percentage of total risk weighted assets
15.68% 18.10% 15.50% 17.93%
Total CET1 expressed as
percentage of total risk weighted assets
12.24% 13.64% 1.97% 13.35%
Total tier 1 expressed as
percentage of total risk weighted assets
12.24% 13.64% 11.97% 13.35%


Qualifying capital and risk-weighted assets (RWA) are computed based on BSP regulations.


Under Basel III, the regulatory qualifying capital of the Parent Company consists of CET1 capital, which comprises paid-up common stock, surplus including current year profit, surplus reserves, other comprehensive income (net unrealized gains or losses on AFS securities and cumulative foreign currency translation) and non-controlling interest less required deductions such as unsecured credit accommodations to directors, officers, stockholders and related interests (DOSRI), deferred income tax, other intangible assets, defined benefit pension fund assets and goodwill. The other component of regulatory capital is Tier 2 (supplementary) capital, which includes subordinated debt and general loan loss provision.


Risk-weighted assets are determined by assigning defined risk weights to the balance sheet exposure and to the credit equivalent amounts of off-balance sheet exposures. Certain items are deducted from risk-weighted assets, such as the excess of general loan loss provision over the amount permitted to be included in Tier 2 capital. The risk weights vary from 0.00% to 150.00% depending on the type of exposure, with the risk weights of off-balance sheet exposures being subjected further to credit conversion factors.


The risk-weighted CAR is calculated by dividing the sum of its Tier 1 and Tier 2 capital by its risk-weighted assets, as defined under BSP regulations. The determination of compliance with regulatory requirements and ratios is based on the amount of the Group’s and Parent Company’s ‘unimpaired capital’ (regulatory net worth) as reported to the BSP, which is determined on the basis of regulatory accounting practices which differ from PFRS in some respects.


As at December 31, 2017 and 2016, the Group and the Parent Company were in compliance with the minimum CAR.


With the issuance of BSP Circular No. 639 covering the Internal Capital Adequacy Assessment Process (ICAAP) in 2009, which supplements the BSP’s risk-based capital adequacy framework under Circular No. 538, the Group has adopted and developed its ICAAP framework to ensure that appropriate level and quality of capital are maintained by the Group on an ongoing basis. The level and structure of capital are assessed and determined in light of the Group’s business environment, plans, performance, risks and budget, as well as regulatory edicts.


Stock Listing

Asia United Bank (AUB) common shares are listed and traded at the Philippine Stock Exchange (PSE) under the ticker symbol “AUB”. The Parent Company’s shares were listed and first traded on May 17, 2013.


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Foreign and Public Ownership

Monthly Foreign Ownership Report
Quarterly Public Ownership Report

Share Price Information

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Shareholder Assistance and Services

For investor relations, please write, email or call:
Kristel D. Guto - The Investor Relations Officer
33/F Joy-Nostalg Center, 17 ADB Avenue, Ortigas Center, Pasig City, Philippines
Email: investorrelationsoffice@aub.com.ph
Tel. Nos. (632) 638-8888 or 631-3333 local 169.

For shareholder services, please write, email,or call:
Richard D. Regala - General Manager
Stock Transfer Service, Inc., 34-D Rufino Pacific Tower, 6784 Ayala Avenue, Makati City
Email: rdregala@stocktransfer.com.ph
Tel. Nos. 403-2410 or 403-2412

Ivy Sandra B. Quevedo - Analyst
Stock Transfer Service, Inc., 34-D Rufino Pacific Tower, 6784 Ayala Avenue, Makati City
Email: ibquevedo@stocktransfer.com.ph
Tel. Nos. (632) 403-2410 or 403-2412