ASIA United Bank’s (AUB) consolidated net income increased to P3.3 billion last year, buoyed by its core lending businesses. The listed bank told the Philippine Stock Exchange on Wednesday that the figure was a 17.8-percent improvement from 2017’s P2.8 billion, and also translated to a return on assets of 1.5 percent and return on equity of 11.8 percent. AUB President Manuel Gomez credited the growth to the core lending businesses of the bank and its subsidiaries, which he said remained robust, despite growing competition within and outside the industry. Total assets rose by 19 percent to P238 billion in 2018 from P200 billion the year before. Total net interest income rose by 19 percent to P7.8 billion. AUB shares slid by 50 centavos or 0.85 percent to close at P58 each on Wednesday. MAYVELIN U. CARABALLO
