Ng family-led Asia United Bank (AUB) netted a record P9.4 billion in the first nine months of the year, representing a 9-percent rise on the back of higher revenue.
In a regulatory filing on Thursday, AUB said it had benefited from stronger trading and foreign exchange gains, as well as higher fee-based revenues from credit cards, e-wallet and remittance transactions.
These boosted AUB’s noninterest income by 18 percent to P3.7 billion in the same period last year.
At the same time, AUB said its loan portfolio had expanded by 29 percent to P256.9 billion, reflecting strong demand amid the monetary policy easing cycle.
Still, its nonperforming loans ratio eased to 0.36 percent from 0.53 percent a year ago.