<article><a style="color: #000080;" href="https://www.aub.com.ph">Asia United Bank Corp</a> (AUB), a listed medium-sized commercial bank in the Philippines, has invested $6.7 billion (P300 billion) for a new house subsidiary.</article>

<a style="color: #000080;" href="https://www.aub.com.ph">Asia United Bank Corp</a> (AUB), a listed medium-sized commercial bank in the Philippines, has invested $6.7 billion (P300 billion) for a new house subsidiary.
AUB disclosed to the stock exchange on Monday that its board of directors has approved the incorporation of the company&#8217;s wholly-owned subsidiary in the Philippines for the purpose of engaging in the business of investment.
The bank has a minimum paid-up capitalisation of P300 million as required by the Securities and Exchange Commission (SEC).
AUB likewise announced that its board has approved the new composition of the company&#8217;s executive committee appointing Ramon Y Sy as new member and chairman, replacing Jonathan C Ng.
AUB is among the very few commercial banks that was granted a full-branch license in 1997 that still operates today in the Philippines. The company began as a joint venture between a consortium of Filipino Industrialists, namely Jacinto L Ng Sr, Luis U Ang and Jose S Sandejas, and Taiwanese investment banks such as China United Trust &amp; Investment Corporation and China Development Industrial Bank.
AUB has three subsidiaries, namely, Asia United Leasing and Finance Corporation, Rural Bank of Angeles, and Cavite United Rural Bank, with 39 per cent, 96.05 per cent, and 100 per cent stakes in them, respectively.
AUB&#8217;s last traded price went up by 0.07 per cent or P0.050 to close at P70.50.

Asia United Bank Corp (AUB), a listed medium-sized commercial bank in the Philippines, has initially invested $6.7 billion (P300 billion) for a new house subsidiary.

AUB invests $6.7b for new house subsidiary in PH

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AUB invests $6.7b for new house subsidiary in PH

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