MANILA, Philippines - United Coconut Planters Bank (UCPB) is stepping up its branch expansion as it nears the 190-mark, opening five this quarter on top of 17 new automated teller machines (ATMs).
When completed, total number of UCPB branches nationwide will reach 183 and its ATM network to 250.
UCPB executive vice president for branch banking Edmond Bernardo said it is critical to expand the bank’s physical presence through its branches and ATM networks to remain competitive.
“Market reach and customer service will be the key to hitting our aggressive deposit and loan growth targets this year and next,” he said.
Aside from establishing new branches and ATMs, the bank is renovating branches, or relocating them to more progressive sites to increase accessibility and to tap bigger deposit and loan markets.
UCPB has already relocated or renovated 48 of its branches, with 16 others nearing completion and 37 more in the pipeline, Bernardo said.
As of August, the commercial bank has increased its deposits to P139 billion and its loan portfolio to P45 billion.
The target for 2010 is a 16-percent increase in total deposits and a 36-percent growth in new loan bookings.
The new branches will be located in Alabang in Muntinlupa, Global City in Taguig, Malabon, and Bacoor and Dasmariñas in Cavite.
Bernardo said the residential communities and small enterprises offer huge markets for retail deposits and consumer loans, and the business establishments for corporate deposits and commercial loans.
UCPB uses its branches as selling platform not only for deposits but also for loans, especially consumer loans. The bank’s branches booked 70 percent more consumer loans in the first eight months of the year compared to the same period last year.
For the new ATM sites, the bank will open half in the provinces and half in Metro Manila, locating them in high-traffic areas such as commercial centers, transport terminals and big schools.
The 17 ATM sites to be opened in the second half of the year are on top of the 15 that the bank opened in the first semester, Bernardo said, adding that the bank has also replaced old machines with new models to enhance service reliability.