February 01, 2015 6:19 PM ET

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Company Overview of Asia United Bank Corporation

Company Overview

Asia United Bank Corporation provides various commercial banking products and services in the Philippines. The company offers savings, current, time, and other currency deposit accounts; auto, home, salary, and commercial loans; cash management services; investment products, such as treasury and trust products; and other services comprising card, remittance, trade financing, property sale, and leasing services. As of February 19, 2014, it operated a network of 163 branches. Asia United Bank Corporation was founded in 1997 and is headquartered in Pasig, the Philippines.

Joy-Nostalg Center

No. 17 ADB Avenue

Ortigas Center

Pasig,  

Philippines

Founded in 1997

2,027 Employees

Phone:

63 2 638 6888

Key Executives for Asia United Bank Corporation

Asia United Bank Corporation does not have any Key Executives recorded.

Asia United Bank Corporation Key Developments

Asia United Bank Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Asia United Bank Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the nine months, the company announced interest income of PHP 3,686,224,693 compared to PHP 2,622,060,648 for the same period a year ago. Net interest income was PHP 2,972,469,881 compared to PHP 2,021,386,073 for the same period a year ago. Total operating income was PHP 4,545,244,071 compared to PHP 3,024,201,084 for the same period a year ago. Income before income tax was PHP 1,840,038,888 compared to PHP 1,073,403,300 for the same period a year ago. Net income was PHP 1,598,121,042 compared to PHP 986,639,516 for the same period a year ago. Basic and diluted earnings per share attributable to equity holders of the parent company was PHP 6.55 compared to PHP 4.59 for the same period a year ago. Net cash used in operating activities was PHP 773,154 compared to PHP 10,847,494 for the same period a year ago. Acquisition of bank premises, FFE was PHP 917,758 compared to PHP 619,967 for the same period a year ago. Return on assets was 1.89% compared to 1.60% for the same period a year ago. Return on equity was 11.12% compared to 8.90% for the same period a year ago. For the quarter, the company announced interest income of PHP 1,330,975,278 compared to PHP 985,156,790 for the same period a year ago. Net interest income was PHP 1,079,623,805 compared to PHP 782,449,459 for the same period a year ago. Total operating income was PHP 1,858,371,132 compared to PHP 923,344,162 for the same period a year ago. Income before income tax was PHP 802,771,872 compared to PHP 209,390,834 for the same period a year ago. Net income was PHP 718,575,320 compared to PHP 169,558,897 for the same period a year ago.

Asia United Bank Announces Earnings Results for the Nine Months of 2014

Asia United Bank announced earnings results for the nine months of 2014. For the period, the group posted a net income of PHP 1.6 billion. This was 62% higher than PHP 986.6 million in 2013, aided by a 52% loan growth and a one-time extraordinary gain of over PHP 300 million on the sale of foreclosed properties. Interest income from loans rose 43% to PHP 2.3 billion from PHP 1.6 billion year-on-year. Fee-based income contributed PHP 598.9 million, a 49% growth from last year's PHP 400.4 million.

Asia United Bank Corporation, Board Meeting, Aug 15, 2014

Asia United Bank Corporation, Board Meeting, Aug 15, 2014.

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