UnionBank’s unaudited Net Income Up by 19% to Php9.0 billion in FY2013

For the fifth consecutive year, Union Bank of the Philippines (UnionBank) registered a record-high net income of Php9.0 billion in 2013, 19% higher than the Php7.6 billion earned the previous year. Net interest income surged by 22% to Php8.9 billion underpinned by the robust expansion of earning assets. Similarly, other income rose by 17% to Php12.6 billion principally due to the surge in service charges, fees and commissions attributed to loan bookings of CitySavings. Consequent with the Bank’s record-earning performance, key financial ratios were preserved at high levels with return on equity and return on assets at 19.6% and 2.7%, respectively. The Bank’s revenue-to-expense ratio stood at 2.1x, exceeding the Bank’s goal of 2.0x, consistent with being among the least cost-producer in the industry.

UnionBank’s total resources expanded by over 40% to Php398.4 billion, in view of the 57% YoY growth acceleration of deposit liabilities to Php298.2 billion. Net loans and other receivables, likewise, soared to Php142.1 billion driven largely by CitySavings loan bookings. As of end-December 2013, capital ratios remained healthy with Tier 1 and total capital adequacy ratios (CAR) at 16.0% and 18.5%, respectively, comfortably above existing regulatory minimum and the forthcoming Basel III requirements.

UnionBank’s stock price as of end-December at Php126.00 per share, posting 12% capital appreciation, outperforms both the stock market (PSEi) and its financial index (PFINC) by 10 and 18 percentage points, respectively.

As of year-end, the total branch network of UnionBank and its subsidiary CitySavings stands at 238, supported by 268 onsite and offsite ATMs which has access to over 14,000 ATMs across the country, a call center and internet banking (www.unionbankph.com).

1 Make sure that the website address appearing on your browser starts with https://ebanking.unionbankph.com/ and a padlock symbol (🔒) beside it.If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 You can only type in your password or PIN using the virtual keyboard.

3 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

4 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.
1 Make sure that the website address appearing on your browser is Union Bank of the Philippines and has a padlock symbol (🔒) beside it. If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 You can only type in your password or PIN using the virtual keyboard.

3 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

4 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.
1 Make sure that the website address appearing on your browser starts with https://ebanking.unionbankph.com and a padlock symbol (🔒) beside it.If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 You can only type in your password or PIN using the virtual keyboard.

3 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

4 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.
1 Make sure that the website address appearing on your browser is Union Bank of the Philippines and has a padlock symbol (🔒) beside it. If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 You can only type in your password or PIN using the virtual keyboard.

3 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

4 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.
1 Make sure that the website address appearing on your browser starts with https://ebanking.unionbankph.com and a padlock symbol (🔒) beside it.If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

3 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.
1 Make sure that the website address appearing on your browser is Union Bank of the Philippines and has a padlock symbol (🔒) beside it. If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

3 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.
1 Make sure that the website address appearing on your browser starts with https://ebanking.unionbankph.com and a padlock symbol (🔒) beside it.If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

3 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.
1 Make sure that the website address appearing on your browser is Union Bank of the Philippines and has a padlock symbol (🔒) beside it. If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 Keepyour device virus-free. Make sure you have an updatedanti-virus software.

3 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit theSafe Surfing Guidelinespage or call our 24-hour Customer Support at (02)8418600.