Philippines' UCPB posts 22% net income increase

UCPB registered a net income of P3.73 billion for 2012 boosted by its loan protfolio and trading and securities earnings.

Ths figure represents a 22% increase from last year’s P3.06 billion.

Total loans went up by 24% 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%. Corporate accounts make up 45% of the loan portfolio.

Non-interest income soared by 47% 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% growth from the previous year. The growth in fees will continue to be robust because of the introduction of products.

United Coconut Planters Bank President and CEO Mr. Jeronimo U. Kilayko said that the bank is revisiting the basic fundamentals that have made it a reliable banking partner for our target market.

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