UnionBank 2018 Net Income Hits PhP7.3B

Union Bank of the Philippines (PSE: UBP) has reported 2018 net income of PhP7.3 billion. Total income taken to retained earnings amounted to PhP8.5 billion, inclusive of adjustments related to the adoption of PFRS9 accounting standards during the year. As of end 2018, UnionBank’s total assets reached PhP674.2 billion. Customer loans increased by 16% year-on-year […]
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UnionBank to Acquire PR Savings Bank

City Savings Bank Inc. (CitySavings), the thrift banking arm of Union Bank of the Philippines (UnionBank, PSE: UBP), has signed a Share Purchase Agreement (SPA) with the ROPALI group to acquire 100% of the common shares of Philippine Resources Savings Bank (PR Savings). “This acquisition will expand our mass market reach, consistent with our vision […]
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PH Stocks Surge on Upbeat Market Sentiment

Manila—(PHStocks)—The Philippine stock market was up for the fourth session, tracking regional markets on strong factory data in the United States. The benchmark Philippine Stock Exchange index (PSEi) went up by 1.12% or 73 points to close the week at 6,587.72. All counters are in the green, led by the Property sector, which gained 2.19%. […]
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AEV Approves Sale of CitySavings Stake to UnionBank

Cebu—(PHStocks)—In a special meeting today, the Board of Directors of Aboitiz Equity Ventures Inc. (PSE: AEV) has approved the proposed offer from Union Bank of the Philippines (UnionBank, PSE: UBP) to purchase all of its shares in City Savings Bank, Inc. (CitySavings), a Cebu-based thrift bank. AEV, together with its wholly owned subsidiary, Pilmico Foods […]
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AEV Records Slight Drop in 2011 Net Income

Cebu–(PHStocks)–Aboitiz Equity Ventures Inc. (PSE: AEV) ended the fourth quarter of 2011 with a consolidated net income of PhP5.1 billion, recording an increase of 2% year-on-year (YoY).  Out of the total earnings contributions from the Company’s strategic business units (SBU), Power accounted for 79%. Income share of the Banking and Food SBUs were at 15% […]
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