UCPB posts P3.73-B net income in 2012-A A +A
Monday, February 18, 2013
THE United Coconut Planters Bank (UCPB) posted a net income of P3.73 billion for 2012, up by 22 percent from last year's P3.06 billion as the bank boosted its loan portfolio, as well as its trading and securities earnings by triple digits.
Total loans went up by 24 percent to P87.72 billion from P70.52 billion in the same period last year of which the consumer portfolio grew at a very fast pace of 33 percent. Corporate accounts make up 45 percent of the loan portfolio.
Non-interest income soared by 47 percent or P3.1 billion from just P2.1 billion from a year ago due to higher trading gains on securities as well as better fee based income.
ATM transactions are increasing as evidenced by a 20 percent growth from the previous year. The growth in fees will continue to be robust because of the introduction of products such as UCPB Connect, an online facility meant to provide banking flexibility and convenience to clients.
This fairly-advanced banking system includes a mobile banking component which allows users to access their bank statement and pay bills through mobile devices.
The bank ended the year with total assets amounting to P218.72 billion up by 9 percent on the back of sound financial fundamentals and knowledge of the current market conditions while total capital stood at P20.27 billion increasing by 15 percent.
UCPB president and chief executive officer Jeronimo U. Kilayko said: "In spite of 2012 being a demanding year both strategically and financially, we at UCPB are satisfied to have achieved the results amidst these trials and challenges. We are definitely looking forward to this year, being our 50th anniversary, and revisiting the basic fundamentals that have made us a reliable banking partner for our target market."
Published in the Sun.Star Davao newspaper on February 19, 2013.