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Asia United Bank

From Wikipedia - Reading time: 7 min

Asia United Bank Corporation
Company typePublic
PSE: AUB
IndustryFinancial services
FoundedOctober 31, 1997; 27 years ago (October 31, 1997)
FounderJacinto L. Ng
Headquarters
Joy-Nostalg Center, No. 17 ADB Avenue, Ortigas Center, Pasig, Metro Manila
,
Philippines
Key people
  • Jonathan C. Ng (Chairman)
  • Manuel A. Gomez (President)
ProductsFinancial services
ServicesBanking
Revenue₱15.07B(2020)
₱3.86B(2020)
₱3.03B(2020)
AUM₱241.9B(2020)
Total assets₱315,56B(2020)
Total equity₱35.23B(2020)
ParentRebisco Group of Companies, Inc.
SubsidiariesCavite United Rural Bank
Rural Bank of Angeles
Asia United Leasing & Finance Corp
RediMoney Express Pte. Ltd.
Websitewww.aub.com.ph

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 of Companies, Inc. 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]

In July 2023, Rebisco president Jonathan C. Ng was elected as the chairman of the company, replacing Abraham T. Co.[5]

History

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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

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References

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  1. ^ "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.
  2. ^ "AUB Company Profile". PhilJobNet. philjobnet.gov.ph. Retrieved December 31, 2022.
  3. ^ "AUB gets unibank license". PhilstarGlobal. philstar.com. Retrieved March 4, 2013.
  4. ^ "BSP Rankings in terms of assets". BSP. bsp.gov.ph. Retrieved September 30, 2022.
  5. ^ "AUB board elects Jonathan Ng as new chairman". BusinessWorld. July 13, 2023. Retrieved October 15, 2023.
  6. ^ AUB Official Website
  7. ^ AUB expects 2018 income to improve by 14% to P3.2-billion
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Licensed under CC BY-SA 3.0 | Source: https://en.wikipedia.org/wiki/Asia_United_Bank
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