UCPB thrift unit earns 36% more

MANILA, Philippines - UCPB Savings Bank (USB), the thrift unit of United Coconut Planters Bank, posted a strong 36 percent growth in net income last year to P404 million from P297 million in 2012.

USB president and CEO Joseph Justiniano attributed the earnings growth to the bank’s more aggressive stance towards marketing commercial and consumer loan products.

Total loans climbed 26.42 percent  from P6.8 billion in 2012 to P8.6 billion in 2013.

He said USB achieved these results in 2013 “amid noted trials and challenges in the banking industry.”

USB’s non-performing loan ratio, the proportion of soured loans to total loans, stood at a low three percent. 

Total capital adequacy ratio (CAR), a measure of a bank’s financial strength, was at 26.61 percent, way above Bangko Sentral ng Pilipinas’ 10 percent minimum requirement.

Deposits also grew 57.64 percent from the 2012 level of P5.6 billion to  P8.8 billion.

The bank ended 2013 with total assets amounting to P11.9 billion, higher by 39.71 percent.

USB attributed this positive gain on the back of sound financial fundamentals. Total capital stood at P2.6 billion, up 12.6 percent from 2012’s P2.309  billion.

The bank currently has 37 branches nationwide. Six branches  have been relocated: Laguindigan to Lapasan, CDO; Sindangan to Dipolog, Zamboanga del Norte; Sta. Rosa, Laguna; Morong, Rizal; Puerto Princesa; and Atimonan, Quezon.

“In line with our goal of providing our customers with a pleasant banking experience, we renovated and relocated several of our branches, incorporated the new logo to reflect a more personal relationship and lasting partnership with our customers,” the bank executive said.

The branches that were renovated include Lamitan, Basilan; Tuburan, Cebu; and Sta Cruz, Manila.

Recently, the bank established six lending centers: two in Luzon (Ilagan and Albay), two in Visayas (Calbayog and Tacloban), and two in Mindanao (Laguindingan and Sindangan). 

To serve the needs of its growing clients nationwide, USB increased its automated teller machine units from seven in 2012 to 24 in 2013.

The bank plans to deploy ATMs in all of its branches in the near future.

“We believe that we are on track towards growth. The challenge is to accelerate the momentum by providing relevant tools to our employees, our greatest asset,” he said.

“One of our key priorities is the development of training programs aimed at reinforcing our people’s skills, attitudes and behavior that will bring our brand to life.

 We are also planning to roll out the sales management process that will enable our sales people to spot and develop business potentials.  Lastly, we are looking at a solid control and support system to back-up our sales endeavors,” he added.