Union Bank logs P10.1B net income in 9M

UNION Bank of the Philippines booked P10.1 billion in net income in the first nine months of the year.

Its earnings translate to a return on equity of 10.4 percent which takes into consideration the impact of the additional capital of P40 billion from our Stock Rights Offer last May 2022.

Net income for the third quarter of 2022 was at P4 billion, up 17 percent versus P3.4 billion in the previous quarter.

As of end-September, the bank has crossed the one-trillion-mark in terms of assets for the first time, with total assets at P1.05 trillion, higher by 37 percent year-on-year. (PR)