UCPB Savings Bank eyes Toril as new lending site

UCPB Savings Bank, a subsidiary of United Coconut Planters Bank (UCPB), is planning to set up four new lending offices nationwide by 2013, including one in Toril, Davao City, to augment its two existing offices.

Other sites for the lending offices will be in Calbayog, Samar; Tacloban, Leyte, and Butuan City.

These new lending offices are expected to assist small and medium enterprises (SMEs) in this part of the country.

"We are aggressively expanding the bank's service delivery network, our branches and ATMs (automated teller machines), not only to generate low-cost funds but help promote financial activities in these communities which are not usually served by other commercial banks," Joseph C. Justiniano, president of UCPB Savings Bank, said in a statement issued Tuesday.

He said the bank has launched three initiatives in a bid to continue to develop service delivery network particularly in areas where large commercial banks are not in operation or those that do not have ATM presence.

UCPB Savings Bank, the thrift banking arm of UCPB, has unveiled five branches after receiving approval from the Bangko Sentral ng Pilipinas (BSP).

The five new branches are in Batac, Ilocos Norte; Lingayen, Pangasinan; Caramoan Island; Catbalogan, Samar; and Metro Cebu. Batac and Lingayen are primarily agricultural areas, Caramoan Island is a famous tourist destination while Catbalogan and Metro Cebu are commercial hubs.

The five additional branches bring the total current number to 41 UCPB Savings Bank branches.

"The branch expansion will target small-and medium-enterprises (SME) and individuals. Our new customers could expect similar services that large commercial banks provide, this is what we would like to be known for in the areas we serve," Joseph C. Justiniano, president of UCPB Savings Bank, said.

"We are providing banking products and services to the target market such as payroll service, and we handle remittances of the modern-day Filipino heroes, the OFW (overseas Filipino workers)," he added.

In addition to the expansion of the branch network, UCPB Savings Bank has rolled out seven online ATMs in areas that list agriculture as their major economic activity namely, Calauag, Quezon; Lucban, Quezon; Goa, Camarines Sur; Pili, Camarines Sur; Libmanan, Camarines Sur; Sta. Ignacia, Tarlac; and Lamitan, Basilan. Calauag is more popularly known as the Communications and Transport Capital with four public transport companies and a communications firm headquartered in the municipality.

The seven ATMs went online early October; target in 2013 is to provide all UCPB Savings Bank branches with ATMs.

Justiniano said the bank's expansion mode is anchored on the commitment by the parent company, UCPB, to build on its extensive service delivery network to reach a wider public nationwide.

UCPB Savings Bank registered significant improvements in its financials for the first 9 months of 2012. Loan portfolio expanded by 22 percent to P6.22 billion from P5.10 billion in December 2011. Deposits grew by 20 percent to P5.25 billion from P4.38 billion.

Interest income went up by 12 percent to P524 million to P629 million while non-interest income increased by 50 percent, from P107 million to P161 million. Net income also registered a hike of 12 percent to P231 million vis-à-vis the P206 million posted on December 31, 2011.