AUB to expand in US, Europe
Donnabelle L. Gatdula (The Philippine Star) - May 8, 2013 - 12:00am

MANILA, Philippines - Asia United Bank (AUB), majority-owned by biscuit manufacturer Rebisco Group, is planning to expand its operations abroad over the next three to five years.

In its final prospectus submitted to the Philippine Stock Exchange (PSE), AUB said it is eyeing to venture into new geographical locations such as Europe and the United States.

In addition, AUB said it expects to capitalize on the significant opportunities presented by large overseas Filipino worker (OFW) populations in various regions, by leveraging the competitiveness of its online remittance system which, it believes, is one of the fastest and most advanced among its competitors.

It is also planning to expand partnerships in its existing Asia and Middle East markets.

On the local front, AUB said it intends to diversify from its traditional core customer base of small-medium-enterprise (SME) and large corporates, and capitalize on the growth opportunities in the Philippine retail banking sector.

“By expanding its branch network and further enhancing its Internet banking platform and other channels, AUB expects to increase customer penetration for key retail products such as mortgages, remittances and auto loans, as well as introduce debit and credit cards, which are expected to be important revenue contributors in the future,” the bank said.

As part of this strategy, AUB said it plans to increase sales of retail products to existing customers that may not have typically looked to AUB for these types of products in the past, and also expects to acquire new customers through its enhanced multi-channel distribution network and marketing efforts.

As soon as it secures its universal banking license in the fourth quarter of 2013, AUB intends to engage in and offer a range of investment banking products and services to capitalize on the bank management’s expertise and technological potential.

AUB’s investment banking division will aspire to offer integrated solutions encompassing high-quality financial advisory services and financing solutions.

Its services are expected to include equity and debt capital market issuances, M&A advisory, private equity advisory, infrastructure advisory and fund mobilization.

As a specialist Philippine investment bank, AUB’s investment banking division will aim to develop a strong track record and expertise in executing Philippine-related transactions which involve assisting local companies with their growth, investment and strategic plans, as well as advising international companies seeking to enter or diversify in the Philippine market.

ADVISORY ASIA AND MIDDLE EAST ASIA UNITED BANK AUB BANKING EUROPE AND THE UNITED STATES INVESTMENT PHILIPPINE PHILIPPINE STOCK EXCHANGE REBISCO GROUP
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