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UnionBank

UnionBank's net profit rose 170% yoy to PHP 3,691 mil in 3Q2019

By Helgi Library - February 20, 2020

UnionBank made a net profit of PHP 3,691 mil under revenues of PHP 9,649 mil in the third quarter of 2019, up 170% and 61.7% ...

UnionBank's net profit rose 170% yoy to PHP 3,691 mil in 3Q2019

By Helgi Library - February 20, 2020

UnionBank made a net profit of PHP 3,691 mil under revenues of PHP 9,649 mil in the third quarter of 2019, up 170% and 61.7% ...

UnionBank's customer deposits rose 25.1% yoy to PHP 363,962 mil in 3Q2016

By Helgi Library - February 20, 2020

UnionBank's customer deposits reached PHP 363,962 mil in 2016-09-30, up 8.19% compared to the previous year. Filipino banking s...

Annual Quarterly LTM
Profit Statement 2016 2017 2018
Net Interest Income PHP mil 15,123 20,995 20,207
Net Fee Income PHP mil 4,515 1,420 1,572
Other Income PHP mil 5,554 2,773 3,894
Total Revenues PHP mil 25,191 25,187 25,673
Staff Cost PHP mil 5,073 5,285 5,727
Operating Profit PHP mil 13,437 11,393 9,309
Provisions PHP mil 1,594 876 856
Net Profit PHP mil 9,965 8,293 7,285
Balance Sheet 2016 2017 2018
Interbank Loans PHP mil 66,788 59,314 14,942
Customer Loans PHP mil 223,422 257,966 296,286
Total Assets PHP mil 524,432 621,432 673,783
Shareholders' Equity PHP mil 67,587 73,345 90,961
Interbank Borrowing PHP mil 48,100 43,071 90,965
Customer Deposits PHP mil 376,485 447,616 420,703
Issued Debt Securities PHP mil 7,200 32,128 44,522
Ratios 2016 2017 2018
ROE % 15.7 11.8 8.87
ROA % 2.06 1.45 1.12
Costs (As % Of Assets) % 2.43 2.41 2.53
Costs (As % Of Income) % 46.7 54.8 63.7
Capital Adequacy Ratio % 15.7 14.4 15.2
Net Interest Margin % 3.13 3.66 3.12
Loans (As % Of Deposits) % 59.3 57.6 70.4
NPLs (As % Of Loans) % 0.677 1.19 2.06
Provisions (As % Of NPLs) % 644 320 119
Valuation 2016 2017 2018
Price/Earnings (P/E) 7.92 11.1 9.64
Price/Book Value (P/BV) 1.17 1.25 0.772
Dividend Yield % 2.55 2.19 2.97
Earnings Per Share (EPS) PHP 9.11 7.58 6.63
Book Value Per Share PHP 61.8 67.1 82.8
Dividend Per Share PHP 1.84 1.84 1.90

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summary Unit 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                                          
Net Interest Income PHP mil                                             7,799 9,563 11,294 12,544 15,123    
Total Revenues PHP mil                                             17,977 21,267 20,271 19,675 25,191    
Operating Profit PHP mil                                             9,372 10,846 10,451 8,314 13,437    
Net Profit PHP mil                                             7,516 8,868 8,333 5,649 9,965    
balance sheet                                                          
Interbank Loans PHP mil                                             8,503 20,252 66,241 36,583 66,788    
Customer Loans PHP mil                                             80,321 106,820 131,020 172,706 223,422    
Debt Securities PHP mil                                             100,511 108,760 96,609 123,358 135,137    
Total Assets PHP mil                                             279,923 396,082 445,830 441,658 524,432    
Shareholders' Equity PHP mil                                             47,338 44,992 55,836 59,490 67,587    
Interbank Borrowing PHP mil                                             18,541 23,167 48,385 41,552 48,100    
Customer Deposits PHP mil                                             189,841 298,238 311,077 311,583 376,485    
Issued Debt Securities PHP mil                                             3,750 3,750 7,200 7,200 7,200    
ratios                                                          
ROE % ...                                           16.7 19.2 16.5 9.80 15.7    
ROA % ...                                           2.72 2.62 1.98 1.27 2.06    
Costs (As % Of Assets) % ...                                           3.11 3.08 2.33 2.56 2.43    
Costs (As % Of Income) %                                             47.9 49.0 48.4 57.7 46.7    
Capital Adequacy Ratio % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...               20.7 18.5 17.6 16.2 15.7    
Net Interest Margin % ...                                           2.82 2.83 2.68 2.83 3.13    
Interest Income (As % Of Revenues) %                                             43.4 45.0 55.7 63.8 60.0    
Fee Income (As % Of Revenues) %                                             4.79 11.5 16.1 18.8 17.9    
Staff Cost (As % Of Total Cost) %                                             37.6 33.6 37.3 34.1 43.2    
Equity (As % Of Assets) %                                             16.9 11.4 12.5 13.5 12.9    
Loans (As % Of Deposits) %                                             42.3 35.8 42.1 55.4 59.3    
Loans (As % Assets) %                                             28.7 27.0 29.4 39.1 42.6    
NPLs (As % Of Loans) % ... ... ... ... ... ... ... ... ... ... ... ... ...   ... ...             1.78 0.109 0.829 0.828 0.677    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... ... ... ... ... ... ...   ... ...             657 8,672 942 665 644    
valuation                                                          
Market Capitalisation (End Of Period) USD mil ... ...                                         1,761 1,821 1,577 1,289 1,592    
Number Of Shares (Average) mil                   ... ... ... ... ...                 1,093 1,093 1,093 1,093 1,093    
Share Price (End Of Period) PHP ... ...                                         66.1 73.9 64.5 55.2 72.2    
Earnings Per Share (EPS) PHP                   ... ... ... ... ...                 6.87 8.11 7.62 5.17 9.11    
Book Value Per Share PHP             ...     ... ... ... ... ...                 43.3 41.1 51.1 54.4 61.8    
Dividend Per Share PHP             ...                               2.05 2.58 2.03 1.45 1.84    
Price/Earnings (P/E) ... ...               ... ... ... ... ...                 9.62 9.11 8.46 10.7 7.92    
Price/Book Value (P/BV) ... ...         ...     ... ... ... ... ...                 1.53 1.80 1.26 1.01 1.17    
Dividend Yield % ... ...         ...                               3.11 3.49 3.15 2.63 2.55    
Earnings Per Share Growth % ...                 ... ... ... ... ... ...               15.6 18.0 -6.02 -32.2 76.4    
Book Value Per Share Growth % ...                                           10.5 -4.96 24.1 6.54 13.6    
income statement Unit 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                                          
Interest Income PHP mil                                             11,391 13,995 15,608 16,784 20,398    
Interest Cost PHP mil                                             3,592 4,432 4,315 4,240 5,274    
Net Interest Income PHP mil                                             7,799 9,563 11,294 12,544 15,123    
Net Fee Income PHP mil                                             862 2,446 3,270 3,692 4,515    
Other Income PHP mil                                             9,317 9,258 5,708 3,440 5,554    
Total Revenues PHP mil                                             17,977 21,267 20,271 19,675 25,191    
Staff Cost PHP mil                                             3,240 3,498 3,665 3,872 5,073    
Depreciation PHP mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       258 343 354 418 518    
Other Cost PHP mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       5,108 6,580 5,801 7,072 6,164    
Operating Cost PHP mil                                             8,605 10,421 9,820 11,362 11,754    
Operating Profit PHP mil                                             9,372 10,846 10,451 8,314 13,437    
Provisions PHP mil                                             1,560 1,045 301 659 1,594    
Extra and Other Cost PHP mil                                             0 0 0 0 0    
Pre-Tax Profit PHP mil                                             7,812 9,801 10,150 7,655 11,843    
Tax PHP mil                                             296 930 1,810 1,997 1,870    
Minorities PHP mil                                             0 3.94 6.75 8.95 8.08    
Net Profit PHP mil                                             7,516 8,868 8,333 5,649 9,965    
Dividends PHP mil                                             2,245 2,822 2,223 1,588 2,011    
growth rates                                                          
Net Interest Income Growth % ...                                           4.26 22.6 18.1 11.1 20.6    
Net Fee Income Growth % ...                                           1.78 184 33.7 12.9 22.3    
Total Revenue Growth % ...                                           9.55 18.3 -4.68 -2.94 28.0    
Operating Cost Growth % ...                                           5.17 21.1 -5.77 15.7 3.45    
Operating Profit Growth % ...                                           13.9 15.7 -3.65 -20.5 61.6    
Pre-Tax Profit Growth % ...                                           17.0 25.5 3.56 -24.6 54.7    
Net Profit Growth % ...                                           15.6 18.0 -6.02 -32.2 76.4    
market share                                                          
Market Share in Revenues % ... ... ... ... ... ... ... ... ... ... ...                       5.25 5.37 4.95 4.64 5.18   ...
Market Share in Net Profit % ... ... ... ... ... ... ... ... ... ... ...                       7.41 7.40 7.15 4.92 7.88   ...
Market Share in Branches % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   ...           2.13 ... ... ... ... ... ...
balance sheet Unit 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
balance sheet                                                          
Cash PHP mil                                             31,693 101,398 119,497 76,603 62,173    
Interbank Loans PHP mil                                             8,503 20,252 66,241 36,583 66,788    
Customer Loans PHP mil                                             80,321 106,820 131,020 172,706 223,422    
Retail Loans PHP mil ... ... ... ... ... ... ... ... ... ... ... ... ... ...     ... ... ... ... ... ... ... ... ... ... ... ... ...
Debt Securities PHP mil                                             100,511 108,760 96,609 123,358 135,137    
Fixed Assets PHP mil                                             3,106 2,951 3,015 3,307 3,523    
Intangible Assets PHP mil ... ... ... ... ... ... ...                               8,145 11,626 11,772 11,719 11,831    
Goodwill PHP mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...             7,887 11,258 11,258 11,258 11,258    
Total Assets PHP mil                                             279,923 396,082 445,830 441,658 524,432    
Shareholders' Equity PHP mil                                             47,338 44,992 55,836 59,490 67,587    
Of Which Minority Interest PHP mil                                             0 14.9 21.2 23.8 20.3    
Liabilities PHP mil                                             232,585 351,090 389,994 382,168 456,845    
Interbank Borrowing PHP mil                                             18,541 23,167 48,385 41,552 48,100    
Customer Deposits PHP mil                                             189,841 298,238 311,077 311,583 376,485    
Sight Deposits PHP mil                                             62,812 108,683 96,984 104,783 121,167    
Term Deposits PHP mil                                             127,030 189,554 214,093 206,801 255,318    
Issued Debt Securities PHP mil                                             3,750 3,750 7,200 7,200 7,200    
Other Liabilities PHP mil                                             20,453 25,935 23,332 21,833 25,060    
asset quality                                                          
Non-Performing Loans PHP mil ... ... ... ... ... ... ... ... ... ... ... ... ...   ... ...             1,623 128 1,178 1,514 1,582    
Gross Loans PHP mil                                             90,985 117,931 142,121 182,774 233,610    
Total Provisions PHP mil                                             10,664 11,111 11,102 10,068 10,188    
growth rates                                                          
Customer Loan Growth % ...                                           5.71 33.0 22.7 31.8 29.4    
Retail Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   ... ... ... ... ... ... ... ... ... ... ... ... ...
Total Asset Growth % ...                                           2.68 41.5 12.6 -0.936 18.7    
Shareholders' Equity Growth % ...                                           10.5 -4.96 24.1 6.54 13.6    
Customer Deposit Growth % ...                                           -8.14 57.1 4.31 0.163 20.8    
market share                                                          
Market Share in Customer Loans % ... ... ... ... ... ... ... ... ... ... ... ... ... ...                 2.34 2.61 2.57 2.98 3.30   ...
Market Share in Total Assets % ... ... ... ... ... ... ... ... ... ... ...                       4.13 4.61 4.55 4.11 4.30   ...
Market Share in Customer Deposits % ... ... ... ... ... ... ... ... ... ... ...                       4.09 4.92 4.58 4.16 4.29   ...
ratios Unit 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ratios                                                          
ROE % ...                                           16.7 19.2 16.5 9.80 15.7    
ROA % ...                                           2.72 2.62 1.98 1.27 2.06    
Costs (As % Of Assets) % ...                                           3.11 3.08 2.33 2.56 2.43    
Costs (As % Of Income) %                                             47.9 49.0 48.4 57.7 46.7    
Capital Adequacy Ratio % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...               20.7 18.5 17.6 16.2 15.7    
Tier 1 Ratio % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           18.0 16.0 14.0 13.1 13.0    
Net Interest Margin % ...                                           2.82 2.83 2.68 2.83 3.13    
Interest Spread % ...                                           2.57 2.62 2.54 2.68 2.97    
Asset Yield % ...                                           4.12 4.14 3.71 3.78 4.22    
Cost Of Liabilities % ...                                           1.55 1.52 1.16 1.10 1.26    
Payout Ratio %                                             29.9 31.8 26.7 28.1 20.2    
Interest Income (As % Of Revenues) %                                             43.4 45.0 55.7 63.8 60.0    
Fee Income (As % Of Revenues) %                                             4.79 11.5 16.1 18.8 17.9    
Other Income (As % Of Revenues) %                                             51.8 43.5 28.2 17.5 22.0    
Cost Per Employee USD per month ... ...     ... ... ...                               2,272 2,604 2,523 2,551 2,866 ... ...
Cost Per Employee (Local Currency) PHP per month ... ...     ... ... ...                               95,869 110,549 112,415 117,214 138,961 ... ...
Staff Cost (As % Of Total Cost) %                                             37.6 33.6 37.3 34.1 43.2    
Equity (As % Of Assets) %                                             16.9 11.4 12.5 13.5 12.9    
Loans (As % Of Deposits) %                                             42.3 35.8 42.1 55.4 59.3    
Loans (As % Assets) %                                             28.7 27.0 29.4 39.1 42.6    
NPLs (As % Of Loans) % ... ... ... ... ... ... ... ... ... ... ... ... ...   ... ...             1.78 0.109 0.829 0.828 0.677    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... ... ... ... ... ... ...   ... ...             657 8,672 942 665 644    
Provisions (As % Of Loans) %                                             13.3 10.4 8.47 5.83 4.56    
Cost of Provisions (As % Of Loans) % ...                                           2.00 1.12 0.253 0.434 0.805    
other data Unit 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
other data                                                          
Branches ... ... ... ... ... ... ... ... ... ... ...       ...   ...           186 238 253 293 304    
Employees ... ...     ... ... ...                               2,816 2,637 2,717 2,753 3,042 ... ...
ATMs ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 311    
Sight (As % Of Customer Deposits) %                                             33.1 36.4 31.2 33.6 32.2    
Risk-Weighted Assets PHP mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...           173,501 204,341 245,157 289,955 350,543    
Return on Loans %                                             9.62 9.48 7.01 3.72 5.03    
Operating Profit (As % of Loans) % ...                                           12.0 11.6 8.79 5.47 6.78    
Costs (As % Of Loans) % ...                                           11.0 11.1 8.26 7.48 5.93    
Equity (As % Of Loans) %                                             58.9 42.1 42.6 34.4 30.3    

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UnionBank's customer deposits rose 25.1% yoy to PHP 363,962 mil in 3Q2016

By Helgi Library - February 20, 2020

UnionBank's customer deposits reached PHP 363,962 mil in 2016-09-30, up 8.19% compared to the previous year. Filipino banking sector accepted customer deposits of PHP 8,159 bil in 2016-09-30, up 4.48% when compared to the last year. UnionBank accounted fo...

UnionBank's net interest income rose 15.7% yoy to PHP 5,906 mil in 3Q2019

By Helgi Library - February 20, 2020

UnionBank generated total banking revenues of PHP 9,649 mil in the third quarter of 2019, up 61.7% when compared to the same period of last year and 33.7% when compared to the previous quarter. Historically, the bank’s revenues containing of interest, fee...

UnionBank's net interest income rose 15.7% yoy to PHP 5,906 mil in 3Q2019

By Helgi Library - February 20, 2020

UnionBank generated total banking revenues of PHP 9,649 mil in the third quarter of 2019, up 61.7% when compared to the same period of last year and 33.7% when compared to the previous quarter. Historically, the bank’s revenues containing of interest, fee...

UnionBank's net interest margin rose 5.29% yoy to 3.40% in 3Q2019

By Helgi Library - February 21, 2020

UnionBank's net interest margin amounted to 3.40% in the third quarter of 2019, up from 2.94% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 5.83% in 4Q2017 and an all time low of 1.77% in...

UnionBank's net interest margin rose 5.29% yoy to 3.40% in 3Q2019

By Helgi Library - February 21, 2020

UnionBank's net interest margin amounted to 3.40% in the third quarter of 2019, up from 2.94% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 5.83% in 4Q2017 and an all time low of 1.77% in...

UnionBank's price/earnings (P/E) fell 62.5% yoy to 4.87 in 3Q2019

By Helgi Library - February 20, 2020

UnionBank stock traded at PHP 59.1 per share at the end third quarter of 2019 implying a market capitalization of USD 1,389 mil. Since the end of 3Q2014, the stock has depreciated by -18.0 % implying an annual average growth of -3.88 %. In absolute terms, the value of...

UnionBank's price/earnings (P/E) fell 62.5% yoy to 4.87 in 3Q2019

By Helgi Library - February 20, 2020

UnionBank stock traded at PHP 59.1 per share at the end third quarter of 2019 implying a market capitalization of USD 1,389 mil. Since the end of 3Q2014, the stock has depreciated by -18.0 % implying an annual average growth of -3.88 %. In absolute terms, the value of...

UnionBank's market capitalisation (end of period) rose 5.71% yoy to USD 1,389 mil in 3Q2019

By Helgi Library - February 20, 2020

UnionBank stock traded at PHP 59.1 per share at the end of third quarter of 2019 implying a market capitalization of USD 1,389 mil. Over the last five years, the stock has depreciated by 18 implying an annual average growth of -3.88% In absolute terms, th...

UnionBank's market capitalisation (end of period) rose 5.71% yoy to USD 1,389 mil in 3Q2019

By Helgi Library - February 20, 2020

UnionBank stock traded at PHP 59.1 per share at the end of third quarter of 2019 implying a market capitalization of USD 1,389 mil. Over the last five years, the stock has depreciated by 18 implying an annual average growth of -3.88% In absolute terms, th...

UnionBank's customer loan growth fell 27.3% yoy to 13.5% in 3Q2019

By Helgi Library - February 20, 2020

UnionBank's customer loan growth reached 13.5% in 2019-09-30, down from 18.5% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 290% in 2006-12-31 and an all time low of -38.0% in 2005-12-31. In the last deca...

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