{"id":331396,"date":"2025-02-05T23:20:58","date_gmt":"2025-02-05T15:20:58","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=331396"},"modified":"2025-02-05T23:41:06","modified_gmt":"2025-02-05T15:41:06","slug":"trade-the-news-ubps-net-income-rises-by-31-in-2024","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-ubps-net-income-rises-by-31-in-2024\/","title":{"rendered":"Trade the News: UBP’s net income rises by 31% in 2024"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>DIGIPLUS Interactive Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>UBP<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Hold<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 44.64<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

UNION BANK of the Philippines, Inc. (UBP) saw its net income rise by 30.69% year on year in 2024 on the back of the strength of its consumer business, improved margins, and higher revenues.<\/p>\n\n\n\n

The Aboitiz-led bank\u2019s net income stood at P12.03 billion last year, up from P9.205 billion in 2023, it said in a disclosure to the stock exchange on Monday.<\/p>\n\n\n\n

Its financial statement was unavailable as of press time.<\/p>\n\n\n\n

\u201cAfter completing the migration of Citi-branded consumer accounts early last year, we continue to invest heavily to ensure that we elevate customer experiences. We are committed to deliver differentiated product offerings and experiences to our now 17 million customers across all of their preferred customer touchpoints. I am confident that our renewed focus on customer-centered innovation will allow us to deliver greater value this year and in the years to come,\u201d UnionBank President and Chief Executive Officer Ana Maria Aboitiz-Delgado said.<\/p>\n\n\n\n

The bank\u2019s net interest income rose by 11.64% to P58.028 billion last year from P51.976 billion in 2023. Its interest earnings increased by 6.59% to P83.74 billion, while interest expense dropped by 3.29% to P25.71 billion.<\/p>\n\n\n\n

Net interest margin was at 6%, up by 49 basis points year on year, UnionBank said, noting this is \u201camong the highest in the industry.\u201d<\/p>\n\n\n\n

The lender\u2019s other income grew by 14.46% year on year to P21.521 billion from P18.802 billion.<\/p>\n\n\n\n

\u201c[The] bank\u2019s fee income as a proportion of its assets is nearly double the Philippine banking industry\u2019s average, fueled by increasing customer transactions such as bills payments and funds transfers, as well as interchange and other card-related fees,\u201d UnionBank said.<\/p>\n\n\n\n

This brought its net revenues to P79.5 billion, up by 12.4% year on year.<\/p>\n\n\n\n

(News Source: Business World<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-331396","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/331396","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=331396"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/331396\/revisions"}],"predecessor-version":[{"id":331398,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/331396\/revisions\/331398"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=331396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=331396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=331396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}