Asia United Bank (AUB) posted a 17 percent growth in consolidated net income to a record ₱6.1 billion for the first six months of 2025 from the ₱5.2 billion earned in the same period last year a year ago and its highest first-half income.

In a disclosure to the Philippine Stock Exchange, the bank stated that profit was primarily driven by a 13 percent year-on-year growth in total revenues to ₱11.2 billion, from ₱9.9 billion in the first half of 2024.

Earning assets rose 21 percent year-on-year to ₱382.6 billion from ₱316.5 billion, resulting in a seven percent increase in net interest margin to ₱8.8 billion and a net interest margin ratio of five percent.

Non-interest income increased by 40 percent to ₱2.4 billion, driven by improved trading gains, foreign exchange gains, and service charges and other fees from various operating activities, including credit cards, e-wallets, digital payments, remittance services, trust services, and other branch-related transactions.

While operating expenses rose by eight percent to ₱3.6 billion, primarily due to higher compensation, capital expenditures, and business growth-related expenses, the group’s cost-to-income ratio remained low at 32.2 percent, thanks to sustained operational efficiency.

The group set aside loan loss provisions that were 134 percent higher than in the previous year as its loan volume expands.

Despite volume expansion, good asset quality was sustained with its non-performing loan (NPL) ratio at 0.41 percent from year ago’s 0.43 percent. AUB remains sufficiently covered, with an NPL coverage ratio at 115.8 percent.

In step with the momentum of the Philippine economy, AUB’s total loan portfolio grew 36 percent year-on-year to ₱255.6 billion from ₱187.9 billion.

Total deposits rose 16 percent YOY to ₱325.8 billion to support business volume growth. Funding cost remains low as low-cost deposits (current account/savings account or CASA) comprised 79 percent of its total deposits, higher than the previous year’s 75 percent.

Total assets grew 16 percent to ₱404.5 billion from ₱349.0 billion, YOY. Total equity increased 26 percent to ₱64.9 billion from ₱51.4 billion, mainly from retained earnings.

Despite the downgraded growth forecast for the Philippine economy for this year mainly due to tariffs and trade uncertainty, geopolitical tensions, and other external headwinds, AUB remains optimistic it will hit its performance targets.

“Sustaining our profitability since the pandemic is no mean feat, thanks to our robust core business and digital partnerships. We will remain relentless in our efforts to reach out to the unbanked and underserved, and in helping every Filipino achieve economic mobility,” said AUB President Manuel A. Gomez.