Union Bank president and chief operating officer Edwin Bautista attributed the sustained expansion to the strength in core income. “Last year we made about P10 billion net income... the growth rate was about 67 percent. “This year, the core income will continue to grow significantly although we don’t know what will happen to the trading income. But without the trading income... maybe... (we can grow by) more than 50 percent definitely,” he said. Union Bank posted a record net income of P10.1 billion in 2016, up 67 percent from P6 billion in 2015.

Source: The Standard October 29, 2017 12:11 UTC