AUB targets to be one of PH’s top 10 banks
The bank’s operations are headed the right direction with loan growth on an uptrend.
Rebisco tycoon and bilyonaryo Jacinto Ng’s Asia United Bank (AUB) in on the right track with the goal of making it as one of the biggest banks in the Philippines.
The listed lender said it made P1.3 billion during the first half of 2017, spelling a 7% increase from the P1.2 billion it made at end-June 2016. The rise was largely driven by a 35% expansion in consumer loans, which is becoming the “significant profit driver” of the bank.
“We remain on track with our aspiration to become one of the top ten leading banks in the Philippines,” AUB President Abraham Co said in a disclosure, coming from the bank’s top 20 status.
Total bank loans went up by 17.7%, while deposits logged an even faster climb at 25.5%.
Stay tuned as AUB zooms ahead.