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UnionBank net earnings surge 79% to P4.7 B in first quarter

Union Bank of the Philippines reported a 79 percent surge in net income to P4.7 billion in the first three months of 2021 from the same period last year.



In a disclosure to the Philippine Stock Exchange, the bank said first quarter earnings is also 53 percent higher than the last three months of ....

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Union Bank earned P11.6 billion in 2020 despite higher credit cost


Published February 2, 2021, 5:30 AM
Union Bank of the Philippines reported a 17 percent decline in net income to P11.6 billion last year from the P14 billion earned in 2019.
 However, the bank said in a disclosure to the Philippine Stock Exchange that this was achieved despite credit reserves growing by 4.7 times year-on-year or close to P7.0 billion more than 2019.
“I am pleased with the Bank’s 2020 performance despite a challenging year. This was a product of all UnionBankers who continued to push boundaries amidst the crisis. The pandemic became the inflection point that affirmed our digital strategy,” said Union Bank President Edwin R. Bautista. ....

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