UnionBank of the Philippines kicked off 2026 with a massive financial surge, reporting a net income of ₱3.8 billion for the first three months of the year. This figure represents a staggering 167% leap compared to the same period in 2025, marking a definitive recovery for the Aboitiz-led institution.
The bank’s robust bottom line was achieved despite external pressures. In a recent regulatory filing, the lender noted that it successfully absorbed trading losses triggered by market volatility and geopolitical friction involving Iran.
Even with these headwinds, the bank’s sequential growth remained steady, with net income rising 8.7% from the previous quarter.
Management attributed this upward trajectory to a shift toward high-quality, recurring revenue. Total net revenues saw an 11.8% year-on-year increase, reaching ₱21.7 billion.
This growth is supported by a rapidly widening footprint, as the bank’s customer base has now swelled to 18.9 million individuals, bolstered by its aggressive expansion into digital lending and retail banking.
Chief Financial Officer Manuel Lozano emphasized that the current success is a direct result of structural adjustments made over the past year.
“We are carrying over strong momentum, building on the actions we took in 2025 to strengthen our balance sheet and lay the foundation for sustainable growth,” Lozano said.
While the first-quarter results highlight significant momentum, UnionBank remains vigilant regarding the global economic landscape.
The bank indicated that while its capital position is secure, it is closely monitoring the ripple effects of international conflicts on the local market.
“Recent geopolitical developments introduced potential risks,” Lozano added. “Our immediate focus is to ensure we effectively navigate the impact of recent developments. We are strongly positioned in terms of capital and liquidity, and we remain focused on protecting earnings.”