Asia United Bank
Asia United Bank Corporation (PSE: AUB, also known in Hokkien Chinese: 亞洲聯合銀行; Pe̍h-ōe-jī: A-chiu Liân-ha̍p Gûn-hâng; & Mandarin simplified Chinese: 亚洲联合银行; traditional Chinese: 亞洲聯合銀行; pinyin: Yàzhōu Liánhé Yínháng),[1] commonly known as Asia United Bank or AUB, is a universal bank in the Philippines and licensed by the Bangko Sentral ng Pilipinas (BSP). AUB is the banking arm of the Rebisco Group. It is among the very few banks that was granted a full-branch commercial banking license in 1997 and is operating until this day.[2] In 2013, AUB joined the league of Philippine banks that have become publicly listed and acquired universal banking status.[3] As of 2022, AUB is the thirteenth largest bank in the Philippines in terms of assets.[4]
| Company type | Public |
|---|---|
| PSE: AUB | |
| Industry | Financial services |
| Founded | October 31, 1997 |
| Founder | Jacinto L. Ng |
| Headquarters | , Philippines |
Key people |
|
| Products | Financial services |
| Services | Banking |
| Revenue | ₱15.07B(2020) |
| ₱3.86B(2020) | |
| ₱3.03B(2020) | |
| AUM | ₱241.9B(2020) |
| Total assets | ₱315,56B(2020) |
| Total equity | ₱35.23B(2020) |
| Parent | Rebisco Group |
| Subsidiaries | Cavite United Rural Bank Rural Bank of Angeles Asia United Leasing & Finance Corp RediMoney Express Pte. Ltd. |
| Website | www |
In July 2023, Rebisco president Jonathan C. Ng was elected as the chairman of the company, replacing Abraham T. Co.[5]
History edit
AUB was registered with the Securities and Exchange Commission (SEC) on October 3, 1997. Its registered office and principal executive offices are located at Joy-Nostalg Center, 17 ADB Avenue, Ortigas Center, Pasig City, Philippines.[6]
AUB was granted the authority to operate as a commercial bank under the Monetary Board (MB) Resolution No. 1149 dated September 3, 1997 and commenced operations on October 31, 1997. In 2012, it obtained approval from the Bangko Sentral ng Pilipinas (BSP) to upgrade its license into expanded commercial banking status. In 2013, the bank was granted an authority to operate as a universal bank under MB Resolution No. 356 dated February 28, 2013. The universal banking license authorizes, AUB, in addition to its general powers as a commercial bank, to exercise the following: (1) Powers of an investment house, including securities underwriting and trading, loan syndication, financial advisory, private placement of debt and equity securities, project finance and direct equity investment, and (2) Power to invest in allied and non-allied enterprises, subject to regulatory caps on the amount of investment relative to the bank's capital and ownership percentage.[7]
See also edit
References edit
- ^ "AUB銀行2022年淨收入增56%". 菲律賓商報 (Chinese Commercial News). March 28, 2023. Retrieved May 3, 2023.
- ^ "AUB Company Profile". PhilJobNet. philjobnet.gov.ph. Retrieved December 31, 2022.
- ^ "AUB gets unibank license". PhilstarGlobal. philstar.com. Retrieved March 4, 2013.
- ^ "BSP Rankings in terms of assets". BSP. bsp.gov.ph. Retrieved September 30, 2022.
- ^ "AUB board elects Jonathan Ng as new chairman". BusinessWorld. July 13, 2023. Retrieved October 15, 2023.
- ^ AUB Official Website
- ^ AUB expects 2018 income to improve by 14% to P3.2-billion
External links edit
- Official website
- Media related to Asia United Bank at Wikimedia Commons