AUB aspires to become 'digital partner of choice'

Ng family-owned Asian United Bank (AUB) aims to be the “digital partner of choice” after securing tie ups with some of the biggest digital payment networks globally.

AUB president Manuel A. Gomez highlighted the bank’s years of experience working closely with digital partners, which he said aims to achieve shared success and create greater value for its customers and the country.

“We have been consistently building our reputation as ‘Digital Partner of Choice’ by advocating for open collaboration and helping others share in our success,” he said at the bank's annual stockholders’ meeting on Friday.

Gomez mentioned some of AUB’s digital platforms, such as the HelloMoney e-wallet and its all-in-one digital payment acceptance product, AUB PayMate, which revolutionizes cross-border digital payments with the help of regional digital payment networks such as Alipay+, Liquid Group, and Hana Bank of Korea’s GLN International.

In a statement to the Philippine Stock Exchange, the AUB disclosed that an agreement between the bank and GLN International was inked that aims to facilitate cross-border quick response (QR) code payments and will allow  Korean tourists to make QR payments to local merchants using mobile wallets issued in their home country. 

AUB also revealed its partnership with Mastercard to launch a virtual card to give customers of Mocasa access to Mastercard’s online merchant acceptance network, enabling them to make payments to merchants online.

“Through these digital partnerships, we have been enabling all types of merchants to accept digital payments from their customers,” Gomez said, expressing confidence that these collaborations will boost the country’s tourism, retail, food and beverage, attractions, and the domestic economy. 

“These digital payment enablers choose to partner with AUB first because of our impressive track record in this space,” he added.

P8.3-B consolidated 2023 net income

AUB and its four subsidiaries' consolidated net income for 2023 was reported to reach P8.3 billion, a 32 percent increase from the previous year’s P6.3 billion.

According to the bank, this is the highest in its 26-year history. 

This equates to a return on equity (ROE) of 18.6 percent and a return on assets (ROA) of 2.38 percent which they said as "both record highs" since the bank had its initial public offering in 2013. 

The ROE and ROA grew from the previous year’s 16.1 percent and 1.9 percent, respectively.

Moreover, the bank’s board of directors has approved the declaration of cash dividends amounting to P2.33 per share to be paid in two tranches, according to AUB chairman Jonathan Ng.

Last year, the bank declared a 50 percent stock dividend and paid out cash dividends of P2.33 per share (P2 pre-stock dividend and P0.33 post-stock dividend) in three tranches.