Union Bank Of The Philippines Inc (PHS:UBP)

Q1 2025 Union Bank of the Philippines Earnings Call Transcript

May 13, 2025 / 06:30 AM GMT

Release Date Price: ₱34.5 (+7.48%)

Transcript

Key Points

Positve

Union Bank Of The Philippines Inc (PHS:UBP) sustained growth in its retail and customer base, reaching 17.6 million individuals, an 8.4% increase year on year.
The bank's net interest margin improved significantly, ending at 6.3%, up by 69 basis points year on year.
Net revenues grew by 8.4% year on year to 19.4 billion pesos, driven by a strong recurring income base.
Union Bank Of The Philippines Inc (PHS:UBP) successfully managed funding costs, benefiting from an easing monetary policy environment.
The bank's low-cost deposits grew by 5% year on year, slightly faster than the industry average of 4%.

Negative

Net income for the first quarter was 1.4 billion pesos, a decrease of 29% year on year, attributed to one-time items and front-loaded costs.
Return on equity (ROE) stood at 2.9%, lower than previous quarters.
Non-interest income declined by 10% year on year, mainly due to losses in foreign exchange and swaps.
Credit costs increased by 4.6% in the first quarter, driven by the consumer business expansion into new credit segments.
Union Digital's loan book was reduced significantly, and it is expected to continue booking losses for the remainder of the year.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

UBP.PS - Union Bank of the Philippines
Q1 2025 Union Bank of the Philippines Earnings Call
May 13, 2025 / 06:30AM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon. Welcome to Union Bank's earnings results briefing for the first quarter of 2025. My name is Jackie Desus. I'll be the moderator for today's call.

Before we begin, some reminders. Number one, we have put microphones on mute to minimize background noise during our presentation.

Number 2, questions have been requested from the audience in advance, which we will go through during the Q&A portion. In case there are more questions from the floor, please feel free to click on the raise hand button or submit questions via the Q&A box. Those not taken up during the Q&A portion will be answered via email. And finally, the briefing will be recorded. By joining this session, you

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