THE Asia United Bank (AUB) reported that they, along with their subsidiaries' net income grew by P8.3 billion in 2023.

The said figure is said to be up 32 percent from the P6.3 billion recorded in 2022.

In a statement, AUB said that the 2023 growth numbers are all the highest in the bank's history,

The lender also said that the growth comes at the heels of a robust loan growth, more profitable net interest margin, continuously improving credit quality, and higher operating efficiency.

Likewise, the bank noted that the net interest margin climbed 17 percent to P15 billion. 

Meanwhile, the total assets grew by 4 percent to P355.1 billion, where the deposits rose to P292 billion. 

Operating expenses rose to P6.5 billion in 2023, but the bank managed to improve its operating efficiency--its cost-to-income ratio further dropped to 36.3 percent from the 37.6 percent in 2022.