UnionBank 6-month earnings surged 113%

business / Corporate earnings Corporate earnings Loan book up 10% UnionBank 6-month earnings surged 113% By: Emmanuel John B. Abris - @inquirerdotnet Philippine Daily Inquirer / 02:06 AM July 28, 2026 Share: MANILA, Philippines — Union Bank of the Philippines more than doubled its earnings in the first half as stronger consumer lending, higher fee-based income and improving asset quality boosted profitability. In a disclosure on Monday, the Aboitiz-led bank reported a net income of P6.

9 billion for the January-to-June period, up 113 percent from a year earlier. READ: UnionBank delivers 167% Q1 earnings growth Article continues after this advertisement “Our customer franchise remains strong; asset quality continues to improve; and we are confident that we can continue the positive profitability trajectory. At the same time, we are taking deliberate steps to simplify the group and rationalize businesses where we believe resources can be better deployed,” chief financial officer Manuel Lozano said.

FEATURED STORIES BUSINESS About P7/liter fuel price hike set on July 28 BUSINESS DOE chief eyes keeping Semirara coal for domestic use BUSINESS BIR clarifies one-time abatement program for micro taxpayers The parent bank accounted for 96 percent of the group’s earnings, sustaining the momentum seen in the previous quarter. Net revenues climbed 9 percent to P43.1 billion, supported by expansion in consumer lending, growth in low-cost current and savings account deposits, as well as higher fee income.

Net interest income increased 8 percent to P33.7 billion, driven mainly by loan growth. Consumer lending remained the bank’s biggest growth driver, accounting for 61 percent of its total loan portfolio.

Article continues after this advertisement Gross consumer loans expanded 10 percent, led by credit cards and personal loans, which collectively grew 18 percent. Meanwhile, net interest margin improved by 40 basis points to 6.9 percent, supported by the 7-percent increase in low-cost funding.

Article continues after this advertisement The bank also posted stronger income outside its lending business. READ: UnionBank nets P10B, braces for future growth Noninterest income rose 12 percent to P9.4 billion, fueled by higher earnings from card-related fees, wealth management, bancassurance and other everyday banking transactions.

UnionBank said these businesses benefited from its growing customer base, which reached 19.3 million during the period. The bank said it continued to build reserves to support future loan growth and reinforce its balance sheet following ongoing portfolio reviews.

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4 billion, reflecting continued improvements in asset quality. INQ READ NEXT UnionBank 6-month earnings surged 113% SunAsia pitches P 12-B floating solar plants in Laguna EDITORS' PICK More than half of 24 senators absent from Marcos’ Sona: Here’s why Angara cites education milestones ahead of Marcos’ 5th Sona TRANSCRIPT: President Marcos’ 5th State of the Nation Address (Part 2) Dy: House ready to turn Marcos Sona into action TRANSCRIPT: President Marcos’ 5th State of the Nation Address (Part 1) Marcos revives push for nuclear energy program MOST READ More than half of 24 senators absent from Marcos’ Sona: Here’s why No confirmation yet on Padilla chief of staff’s reported resignation PCSO July 27 lotto draws: No jackpot winners in Grand, Mega Lotto Sandiganbayan issues arrest warrant vs Rep. Jojo Ang, ex-Rep.

Arnulfo Go View comments EDITORS' PICK MOST READ newsinfo More than half of 24 senators absent from Marcos’ Sona: Here’s why newsinfo Angara cites education milestones ahead of Marcos’ 5th Sona newsinfo TRANSCRIPT: President Marcos’ 5th State of the Nation Address (Part 2) newsinfo Dy: House ready to turn Marcos Sona into action newsinfo TRANSCRIPT: President Marcos’ 5th State of the Nation Address (Part 1) newsinfo Marcos revives push for nuclear energy program newsinfo More than half of 24 senators absent from Marcos’ Sona: Here’s why newsinfo No confirmation yet on Padilla chief of staff’s reported resignation newsinfo PCSO July 27 lotto draws: No jackpot winners in Grand, Mega Lotto newsinfo Sandiganbayan issues arrest warrant vs Rep. Jojo Ang, ex-Rep. Arnulfo Go globalnation Japanese women lead world in life expectancy for 41st straight year newsinfo Imee Marcos calls looming cases vs Romualdez another ‘budol’ TAGS: Business, first half performance, net income, Union Bank of the Philippines (UnionBank) Your subscription could not be saved.

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