Company Overview of Asia United Bank Corporation
Asia United Bank Corporation provides various commercial banking products and services in the Philippines. It offers personal banking products and services, including savings and checking accounts, time deposits, and money cards; and personal investments products and services comprising investment funds, gold dollar funds, fixed income investments, government securities, treasury notes/bonds, and preferred endowment plans. The company also provides business banking products, such as short-term working capital loans, domestic and foreign bills purchase line products, and specialized loans/financing packages, as well as term loans for plant construction or expansion. In addition, it offers cor...
No. 17 ADB Avenue
Founded in 1997
Key Executives for Asia United Bank Corporation
Asia United Bank Corporation does not have any Key Executives recorded.
Asia United Bank Corporation Key Developments
Asia United Bank Eyes Rural Bank
Apr 1 13
Asia United Bank Corporation (AUB) eyes a rural bank in Northern Luzon. "AUB is conducting its due diligence right now on one rural bank located in Northern Luzon," AUB President Abraham T. Co said. He, however, refused to identify the rural bank, saying there are still "issues" being resolved and AUB "is still studying the acquisition." Abraham said the rural bank is "big" in terms of assets and will allow AUB to "grow its presence" in Northern Luzon. Abraham added that the assets of the rural bank, should AUB pursue with the acquisition, will "likely be merged with the Rural Bank of Angeles." AUB has been buying other banks as part of company’s expansion plans.
Asia United Bank Mulls Acquisitions
Mar 4 13
Asia United Bank Corporation is planning for acquisitions from the proceeds of its initial public offerings (IPO). Asia United said, "It (IPO) will allow the bank to pursue its strategic growth initiatives, which include: the continued expansion of its branch network via organic and inorganic means, expanding its credit and balance sheet to meet increased demand from the growing economy, and deepening and expanding its customer relationships while developing new business segments and enhancing the suite of products and services offered by Asia United." Asia United said in its prospectus that proceeds will be allotted for, "Acquisitions or payments for branch licenses pertain to the cost of pursuing any growth opportunities through acquisitions as they arise within the next two years, or alternatively, the cost to procure additional restricted branch licenses from the Bangko Sentral ng Pilipinas."
Asia United Reportedly Mulls IPO By May
Feb 27 13
Asia United Bank Corporation (AUB) is reportedly planning to launch an initial public offering (IPO) worth around $150 million which would be around 30% stake by May, 2013 on the Philippine Stock Exchange. AUB has reportedly mandated UBS and Credit Suisse to arrange the offering and is set to file within the next few days an application to register new securities at the Securities and Exchange Commission, banking sources privy to the offering said. The proceeds will be reportedly used to beef up its capital ahead of the more stringent capital adequacy requirements under Basel 3, as well as fund an aggressive network expansion over the next three years. AUB reportedly plans to sell the bulk of its IPO shares to offshore investors to elevate its brand to a broader market, the sources said.
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