Business
UnionBank's first-half net income surges 113%
Union Bank of the Philippines reported a 113% year-on-year surge in net income to P6.9 billion for the first half, driven by robust consumer lending, increased fee-based income, and improved asset quality, signaling a strong recovery and growth trajectory for the bank.
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- UnionBank Posts 113% Surge in H1 Net Income Driven by Consumer Lending and Deposit Growth
Union Bank of the Philippines reported a 113% year-on-year surge in its first-half net income to P6.9 billion, propelled by increased consumer lending, growth in current and savings account (CASA) deposits, and robust fee income. Net interest income also rose 8%, boosting profitability.