ASIA United Bank (AUB) saw its first half net income dip by 3 percent to P852.76 million from P879.54 million a year earlier on higher expenses.
“[The decrease] was primarily due to AUB’s investment in opening 29 more branches [as of] end-June and higher loan provisioning, which nudged up the bank’s total operating expenses by 27.6 percent to P2.1 billion [from P1.65 billion],” the company said in a statement.
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