By Christine H. Cabiasa
The United Coconut Planters Bank (UCPB) Savings Bank, the retail arm of UCPB has opened its 3rd branch network in Market City, Agora Lapasan, this city on June 14.
Joseph C. Justiniano, UCPB President said that since Cagayan de Oro is pivotal to growth and development of UCPB Savings Bank in Mindanao, he decided to open the new branch.
According to Justiniano, UCPB Savings Bank has registered a 585 net income for the first quarter this year. “It is ahead of its projections on deposits, loans, and net income after tax. Its past due ratio stood at 2.7%, better than the industry’s 5.7%”, Justiniano added.
Also, Tomas C. Cloa Jr., VP Branch Banking Division Head said that according to their deposit profile, Cagayan de Oro City is the biggest deposit contributor in the region which is 40-50% of the total. “UCPB is the only bank also which is accredited by the Department of Education (DepEd) to lend to teachers,” Cloa Jr. added.
UCPB Savings Bank also embarked on the renovation of selected branches to project the rebranding image which the bank has begun in 2009 in collaboration with the parent bank. “This is intended to consistently deliver our brand promise of being the right partner to our customers by providing more branches and channels in line with our vision to be the preferred bank in the communities we serve,” Justiniano said.
To date, UCPB has 38 branches nationwide and has installed 14 ATMs already.
“As we are into the development of the countryside and the rural areas, we hope this will strengthen more businesses, be it small, medium, or micro businesses,” Cloa Jr. said.