UCPB posts 22% hike in net income-A A +A
Sunday, August 19, 2012
UCPB posted a net income of P1.64 billion in the first six months of the year up by 22 percent from last year’s P1.34 billion as the bank grew its loan portfolio as well as its trading and securities earnings by double digits.
In the first semester, total loans went up by 20 percent to P77 billion from P63.96 billion in the same period last year. Corporate loans increased by 17 percent.
Consumer loans went up at a much faster pace at 35 percent.
UCPB propelled the growth of its consumer loan segment by continuously tapping major property developers for referrals and launching UCPB’s Your Easy Salary (YES) Loan Program in Cebu City where demand is high.
UCPB’s YES Loan is a loan facility extended to both employed and self-employed individuals with a checking account and major credit card. Clients can borrow up to P1 million for various purposes. (PR)
Published in the Sun.Star Cebu newspaper on August 20, 2012.