Union Bank of the Philippines (PSE: UBP)

UBP Income Statement

Financials in millions PHP. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	64,367	60,587	36,831	27,696	28,947	28,251
Interest Income on Investments	18,598	17,975	13,694	8,631	9,631	10,104
Total Interest Income	82,965	78,562	50,525	36,328	38,578	38,355
Interest Paid on Deposits	15,413	15,788	6,022	2,968	5,617	10,160
Interest Paid on Borrowings	12,033	10,798	5,602	3,545	4,231	5,859
Total Interest Expense	27,446	26,586	11,623	6,512	9,847	16,019
Net Interest Income	55,519	51,976	38,901	29,815	28,730	22,336
Net Interest Income Growth (YoY)	21.00%	33.61%	30.48%	3.78%	28.63%	11.68%
Income From Trading Activities	453.59	918.65	-181.4	217.94	3,830	2,347
Gain (Loss) on Sale of Assets	1,027	1,027	1,209	-25.58	220.51	751.83
Gain (Loss) on Sale of Investments	22.7	22.7	100.22	8,615	5,112	7,074
Other Non-Interest Income	16,627	16,834	12,171	6,493	4,180	4,172
Total Non-Interest Income	18,130	18,802	13,299	15,301	13,342	14,345
Non-Interest Income Growth (YoY)	-5.62%	41.38%	-13.08%	14.68%	-6.99%	162.08%
Revenues Before Loan Losses	73,650	70,778	52,200	45,116	42,072	36,681
Provision for Loan Losses	18,047	14,041	4,068	5,811	8,382	1,857
Revenue	55,603	56,737	48,132	39,304	33,690	34,823
Revenue Growth (YoY)	-3.46%	17.88%	22.46%	16.66%	-3.25%	41.46%
Salaries and Employee Benefits	13,625	13,558	10,003	8,647	7,809	8,070
Occupancy Expenses	2,688	2,666	1,860	1,624	1,407	1,378
Selling, General & Administrative	6,253	6,271	3,452	2,099	1,731	1,991
Other Non-Interest Expense	20,564	21,172	15,474	11,029	9,832	8,751
Total Non-Interest Expense	43,130	43,668	30,790	23,398	20,779	20,190
EBT Excluding Unusual Items	12,473	13,069	17,342	15,906	12,912	14,633
Asset Writedown	-916.62	-916.62	-374.54	-318.64	-181.41	13.17
Legal Settlements	-303.58	-303.58	-183.73	-73.38	-189.84	-148.57
Other Unusual Items	-	-	-	-	25.29	-
Pretax Income	11,252	11,849	16,784	14,985	12,342	14,498
Income Tax Expense	3,097	2,644	4,039	2,407	781.38	494.49
Earnings From Continuing Operations	8,155	9,205	12,745	12,578	11,561	14,004
Minority Interest in Earnings	-120.71	-132.34	-143.97	-52.36	-7.57	22.62
Net Income	8,034	9,072	12,601	12,525	11,553	14,026
Net Income to Common	8,034	9,072	12,601	12,525	11,553	14,026
Net Income Growth	-36.54%	-28.00%	0.60%	8.41%	-17.63%	104.00%
Basic Shares Outstanding	3,039	2,968	2,547	2,160	1,935	1,934
Diluted Shares Outstanding	3,039	2,968	2,547	2,160	1,935	1,934
Shares Change (YoY)	4.00%	16.55%	17.93%	11.64%	0.05%	10.92%
EPS (Basic)	2.64	3.06	4.95	5.80	5.97	7.25
EPS (Diluted)	2.64	3.06	4.95	5.80	5.97	7.25
EPS Growth	-38.98%	-38.23%	-14.70%	-2.89%	-17.67%	83.91%
Dividend Per Share	0.800	0.800	1.575	2.205	2.205	2.205
Dividend Growth	-49.20%	-49.20%	-28.57%	0%	0%	84.20%
Effective Tax Rate	27.53%	22.32%	24.07%	16.06%	6.33%	3.41%

Source: S&P Capital IQ. Banks template. Financial Sources.