UnionBank income surges to P12B in 2024
Feb 11, 2025
MANILA, Philippines â Strength in its consumer business caused a 31-percent surge in the 2024 earnings of Union Bank of the Philippines (Unionbank) to P12 billion.
In a disclosure to the stock exchange on Monday, the Aboitiz-led bank said margin expansion and higher fee-based revenues likewise supported profit growth.
Unionbankâs topline jumped by 12.4 percent to a record P79.5 billion.
Following its acquisition of Citiâs consumer business, Unionbankâs consumer loans now account for 61 percent of its loan portfolio, or nearly thrice the industry average, it said.
Net interest income expanded by 11.6 percent to P58 billion.
Source: https://business.inquirer.net/504544/unionbank-income-surges-to-p12b