UCPB Savings Bank logs 36% growth

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Wednesday, April 23, 2014


UCPB Savings Bank (USB), a subsidiary of UCPB, reported growth of 36 percent, having generated P404 million net income for 2013, up from P297 million the year before. The bank attributed its performance to a more aggressive stance towards marketing commercial and consumer loan products.

That, with the combined performance of surpassing revenue target and more efficient operating expense components enabled the robust increase in net income, the bank said in a press statement.

Total loans climbed by 26.42 percent from P6.8 billion to P8.6 billion during the same period the previous year.

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“The UCPB Savings Bank Team is proud to have achieved these results in 2013 amid noted trials and challenges in the banking industry,” said Joseph C. Justiniano, USB president and chief executive officer.

USB’s non-performing loan ratio, the proportion of soured loans to total loans, stood at three percent. Total Capital Adequacy Ratio (CAR), a measure of a bank’s financial strength, was at 26.61 percent. USB noted that it was way above Bangko Sentral ng Pilipinas’ 10 percent minimum requirement.

Deposits also grew by 57.64 percent from the 2012 level of P5.6 billion to 2013’s P8.8 billion. The bank ended 2013 with total assets amounting to P11.9 billion, higher by 39.71 percent. USB attributed this gain on the back of sound financial fundamentals.

Total capital stood at P2.6 billion, up by 12.6 percent from 2012’s P2.309 billion.

The vank currently has 37 branches nationwide and all have been automated. Six branches have been relocated.

Renovation

“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,” Justiniano said.

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. USB said the goal is 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. 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,” Justiniano said.

USB said it focused on the specific needs of its customers and worked to provide them with a range of products tailored to their requirement. As USB celebrated its 51st anniversary last October 2013, it concentrated its efforts in continuing this growth trend by maintaining a closer relationship with its customers, the company said. (PR)

Published in the Sun.Star Cebu newspaper on April 24, 2014.

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