AUB to invest P300M in investment banking


Asia United Bank Corp. (AUB) said it has set aside an initial P300 million pesos to form an investment banking unit in an expansion move.

The bank said in a disclosure to the stock exchange on Monday its board of directors has approved the creation of an investment banking unit “with minimum paid-up capitalization of P300 million” as required by the Securities and Exchange Commission (SEC).

The investment-banking subsidiary will be wholly owned by AUB, the disclosure said.

For 2014, the company reported a 14 percent increase in net income to P1.7 billion from P1.5 billion a year earlier despite the industry-wide trading gains pullback last year.

The bank is optimistic about its growth prospects this year, focusing on aggressive branch expansion and ramping up its deposit-generation and lending activities.


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