Net interest income increased by 11.6 percent to P58 billion as the bank's net interest margin expanded by 49 basis points to six percent—among the highest in the industry. UnionBank's fee income as a proportion of its assets is nearly double the Philippine banking industry's average, fueled by increasing customer transactions such as bills payments and funds transfers, as well as interchange and other card-related fees. With the bank's continued investments in customer engagement programs, its 2024 operating expenses grew by only 1.4 percent versus the previous year to P44.3 billion. "After completing the migration of Citi-branded consumer accounts early last year, we continue to invest heavily to ensure that we elevate customer experiences," said UnionBank President and CEO Ana Aboitiz Delgado.