UCPB officials vote to extend bank life

TOP officials of the universal bank United Coconut Planters Bank (UCPB) yesterday approved the extension of its corporate life by another 50 years.

According to a press statement, the extension of the bank’s corporate life is meant to continue its profitability as it pursues technology-driven products and expanding its loan portfolio, remittance business, fee income and branch network this year.

“With the extension of the bank’s corporate existence now a certainty, it can sustain its growth momentum toward becoming a bigger and stronger financial institution,” said UCPB president and chief executive officer Jeronimo Kilayko.

Kilayko thanked the bank’s private and government shareholders for taking a united stand in voting for the bank’s extension of corporate life as this shows their strong commitment in supporting and developing the country’s coconut industry through UCPB’s various programs.

“The bank’s extended life also assured that it will be able to benefit the government in the repayment of bank’s obligations while it is assured of continuing one of its primary mandates to improve the lives of Filipinos in the countryside who most need financial services and assistance,” the bank said.

UCPB was established in 1963. It became a universal bank in 1981.

UCPB plans to open five more branches this year bringing the bank’s branch network to 193 total branches. The bank currently has eight branches in Cebu.