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UCPB posts double-digit income growth in Q1 2018

UCPB posted a net income of P1.14 billion in the first quarter of 2018, 19% higher than the P958 million it earned in the same period last year.

The double-digit earnings growth reflects the strong performance of the Bank’s lending, deposit-taking, bancassurance and fee-based operations in the first three months of the year, UCPB President and CEO Higinio O. Macadaeg, Jr. said.

As of end-March 2018, the Bank’s loan portfolio expanded by P18.33 billion or 12% to P173.35 billion from P155.02 billion a year ago, boosted by robust consumer loan bookings.

UCPB booked P6.5 billion in new consumer loans in the first three months of the year as the Bank continued to successfully leverage its 188 branches nationwide to take advantage of the sustained demand for housing, auto and personal loans, and to generate more deposits.

Deposits rose by 9% or P22.29 billion to P278.04 billion, with low-cost CASA accounting for 67% of the total amount.

Higher loan volume and better margins increased net interest income during the period by P108 million to P2.84 billion, up nearly 4% from year-ago levels.

Non-interest income also increased by 20% or P129 million, to P743 million on higher service charges, fees and commissions, foreign exchange gain and bancassurance revenues.

UCPB inked a 10-year exclusive bancassurance partnership with United Coconut Planters Life Assurance Corp. (COCOLIFE) and UCPB General Insurance Co., Inc. (UCPB GEN) in February this year.

“We’re ahead of our first quarter target and on track to surpass last year’s earnings performance, a very good start as we celebrate our 55th year in the industry,” Mr. Macadaeg said.

Date published: April 20, 2018

BSP Governor leads the induction of 2018 BMAP Officers

BSP Governor leads the induction of 2018 BMAP Officers
Photo shows Bangko Sentral ng Pilipinas (BSP) Governor Espenilla (6th from left) together with (L-R) BMAP Chair for Election, Yayu E. Javier (Avanza, Inc.), Treasurer Emmanuel Mari K. Valdes (RCBC), Vice President Mary Catherine Elizabeth P. Santamaria (BPI), Secretary Charina D. Balanquit (UCPB), President Mary Ann R. Ducanes (Chinabank), Director for Publicity and Digital Marketing Mai G. Sangalang (Standard Chartered Bank), Director for Industry Relations & Banking Code and Financial Inclusions Mike V. Villa-Real (Philippine Veterans Bank), Director for Programs and Ways & Means Patricia C. Paguia (BancNet), BSP Deputy Governor Chuchi Fonacier, former BMAP presidents Maximino Edralin Jr. and Alexander C. Escucha.

Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. led the induction of the 2018 Board of Directors and Officers of the Bank Marketing Association of the Philippines (BMAP), including UCPB Vice President and Marketing Group Head Charina C. de la Cruz-Balanquit who was elected as Secretary. In 2017, Ms. Balanquit was elected as Director for Programs and Ways & Means. The induction was held on March 5, 2018 at the BSP Complex, Manila.

Established on February 27, 1974, BMAP was the brainchild of 16 pioneering individuals engaged in the public relations and advertising work of their respective banks. It aims to promote and upgrade the practice of bank marketing in the country. Along with its mission to professionalize bank marketing, BMAP also seeks to fully develop, support, and implement educational programs geared towards the advancement of the professional skills and abilities of those engaged in bank marketing. Now with 31 member-banks, and 15 associate members, BMAP continues to strive further to attain its vision and goal of promoting bank marketing in the country and supporting BSP’s programs and advocacies.

Date published: April 13, 2018d

UCPB supports TOAP’s Trust Consciousness Week

UCPB supports TOAP’s Trust Consciousness Week
UCPB Trust Relationship Manager Catherine Joy D. Amador touched base with college students in Lucena City to discuss the importance of saving and investments.

In support of the annual Trust Consciousness Week from March 19-23, 2018, UCPB came up with several initiatives to support of the Trust Officers Association of the Philippines’ (TOAP) and its education arm, the Trust Institute Foundation of the Philippines’ (TIFP) objective to raise the public’s awareness and understanding on the features and benefits of trust products and other fiduciary services.

The UCPB Trust Banking Group conducted a talk to graduating college students of Sacred Heart College (SHC) in Lucena City to discuss the importance of saving and investing. This was held on February 24, 2018 during the school’s 2nd UPSURGE (UPgrade, SURpass and GEnerate) Finance 2018, an annual event of SHC’s Junior Financial and Investment Executives.

In her message in the TOAP supplement published in the Philippine Daily Inquirer and BusinessWorld on March 19, 2018, Senior Vice President and Trust Banking Group Head Ma. Elena Sarmiento who serves as TOAP director and TIFP President underscored the organization’s commitment to uphold the industry and its stakeholders while uplifting the lives of its Trust Banking clients. “The Trust Consciousness Week is in service of the Filipino people with programs and campaigns that will promote financial literacy and financial inclusion, among others. We draw on our collective efforts to ensure that the investing Filipino is equipped with the right tools and options to successfully maneuver every stage in his life cycle, whether it be saving to build one’s wealth, planning for retirement or even, further beyond, the proper distribution of his estate.”

Date published: March 21, 2018

UCPB’s start-up Bancassurance business takes off in 2017

UCPB’s start-up Bancassurance business takes off in 2017

UCPB’s partnership with life insurance company, COCOLIFE, and non-life insurance company, UCPB General Insurance Co., Inc., is paying solid dividends for the bank.

In the nine months following its launch in April 2017, the bancassurance partnership generated total premiums of P1.05 billion from the sale of insurance policies of the two companies to the Bank’s customers.

Bancasssurance is an arrangement between an insurance company and a bank whereby the former sells its products to the latter’s clientele.

The partnership benefits UCPB in two ways. One, it makes readily available to the Bank’s clients a variety of insurance products to secure their future and to protect them against financial losses; and two, it provides the Bank itself with a steady source of topline revenues with high growth potentials.

UCPB President and CEO Higinio O. Macadaeg, Jr. said bancassurance dovetails perfectly with the Bank’s thrust to leverage the nationwide reach of its network of 188 branches and focus on the retail and consumer markets.

“Our individual depositors and borrowers present a huge market for insurance products,” he said pointing out that as these customers progress in their businesses and careers and goes through the various stages of their personal lives, “they will be needing more risk cover, from the basic motor, fire and life insurance to health, retirement and estate plans as well as new investment outlets.”

UCPB Vice President for Bancassurance, Merline S. Dela Cruz, sees the volume increasing dramatically this year as the Bank continues to expand its loan portfolio and deposit base, and this, she said, “would double the new business’ production by year-end.”

Ms. Dela Cruz said a key driver of volume growth would be the Variable Life insurance, a life insurance coverage with an investment component, which the bancassurance partnership will push aggressively this year.

UCPB secured Bangko Sentral ng Pilipinas approval to sell the hybrid insurance late last year.

Date published: March 8, 2018

UCPB goes beyond banking hours for BPO Results Manila employees

UCPB goes beyond banking hours for BPO Results Manila employees
UCPB entertained inquiries on the Bank’s products and services from over 150 employees of Pasig-based BPO, Results Manila, Inc. at their company’s Alaskaland Site on January 23-24, 2018.

UCPB recently conducted its first Financial Wellness Fair for 2018 for the employees of Results Manila, Inc. at their Alaskaland office in Pasig City on January 23-24, 2018. Results Manila, Inc. is a business process outsourcing service provider specializing in contact center customer service and sales solutions. With headquarters in Florida, USA, Results Manila, Inc. has locations in Silver City Mall and Alaskaland, Pasig City; Lapu-Lapu City, Cebu; and Lipa City, Batangas.

The two-day Financial Wellness Fair attracted over 150 employees looking to learn more about the steps they can take to achieve their financial goals. Results Manila employees were presented with UCPB deposit products, investment products such as UCPB Unit Investment Trust Funds (UITF) and UCPB Securities’ MyStock, Bancasurance products from partners COCOLIFE and UCPB General Insurance Company, Inc. (UCPB GEN), and UCPB LoanEasy products. UCPB’s Asset Management and Disposition Division also presented some of its pre-owned properties and vehicles for sale.

UCPB entertained inquiries from employees interested to avail of the Bank’s products and services. UCPB gave away freebies to encourage employees to go cashless with their UCPB VISA Debit Card.

“We commend UCPB for recognizing the unique challenges of working in the BPO sector. Going out of their way to bring their products and services to our employees truly speaks of the Bank’s personal and proactive service,” Kathryn Bejasa, Results Manila Alaskaland Site Director said. “I know I speak for our agents when I say we look forward to another Financial Wellness Fair in our sites.”

This is the first UCPB Financial Wellness Fair for 2018. The UCPB Financial Wellness Fair is a series of roadshows promoting financial literacy and wellness for the Bank’s payroll clients.

Date published: February 22, 2018

UCPB posts 22% increase in net income to P4.08 B in 2017

UCPB posts 22% increase in net income to P4.08 B in 2017

UCPB posted record earnings in 2017 as the bank aggressively expanded its loan portfolio and deposit base during the year.

Based on unaudited results, UCPB’s net income rose 22% year-on-year to 4.08 billion. Loans totaled P171.7 billion at year-end, P15.7 billion higher than the level in the previous year, as both consumer and corporate loans recorded double-digit growths. Deposits went up by P13.9 billion to P279.5 billion during the same period.

Robust loan growth bolstered the Bank’s interest income, which grew by 7% to P14.2 billion. Non-interest income also increased by 5.2% to P2.7 billion on hefty trading and securities gains and revenues from a newly launched bancassurance business.
UCPB President and CEO Higinio O. Macadaeg, Jr. said the Bank “is eyeing to sustain the double-digit core earnings growth this year, anchored on the continued expansion of our consumer and middle market lending operations and a greater push to increase non-interest revenues from our other fee-based services like bancassurance. As we celebrate the Bank’s 55th anniversary in 2018, we will stay the course and do things even better to achieve our strategic direction.”
Launched in April 2017 in partnership with two leading insurance companies, COCOLIFE and UCPB GEN, UCPB’s bancassurance represents a new and steady income source for the Bank, generating P1.05 billion in premiums in only nine months.

UCPB expects to double the program’s premium production following BSP’s approval late last year for the Bank to offer Variable Life Insurance, a hybrid life insurance with an investment component.

Aside from this, the Bank’s newly launched UCPB Visa Debit/EMV card also contributed to the Bank’s fee income business, earning a recognition from VISA for obtaining the highest debit card growth in 2017. The Bank was among the first to complete its migration to the EMV technology in 2017.

Date published: February 13, 2018

UCPB-CIIF Finance funds livelihood projects of 10,500 farmers in 2017

UCPB-CIIF Finance funds livelihood projects of 10,500 farmers in 2017

UCPB-CIIF Finance and Development Corp., the social development arm of the UCPB Group and CIIF Group, continued to pursue its mandate of delivering much-needed credit to the countryside in 2017, releasing a total of P602 million in new loans to 10,499 farmers in 30 coconut provinces during the year.

The loans financed the livelihood projects the farmers undertook to generate extra earnings to augment their income from their farms.

The projects funded were mainly short-gestation ones that provided quick returns such as cash crop cultivation, livestock raising, commodities trading, and village-based processing of coconut by-products like coconut sugar.

UCPB-CIIF Finance President Edgardo Amistad said the high 93% collection rate would indicate most of the farmers earned enough from their livelihood projects last year to be able to repay their loans.

Mr. Amistad said UCPB organized UCPB-CIIF Finance in 1994 to give coconut farmers access to credit so they can engage in alternative livelihood activities to supplement their income.
Coconut farmers have among the lowest incomes in the Philippine agriculture sector with their small farms, ranging in size from one hectare to five hectares, yielding average earnings of from P15,000 to P40,000 per hectare per year only.

Owing to their small size, remote location and the higher risks of micro-enterprises, coconut farmers have difficulty accessing credit from formal sources for their livelihood activities.
Since it started lending in 1995, UCPB-CIIF Finance has pumped in P9.0 billion in loans to 62 coconut provinces benefitting 436,067 farm households there.

A sister-company, the UCPB-CIIF Foundation, is also implementing a scholarship program that has sent 2,857 children of coconut farmers to college and trade schools.

More than half or 1,852 of the UCPB-CIIF scholars have already graduated, and seven in every ten are already earning enough to be able to provide regular financial support for their families’ household expenses and their siblings’ education.

Date published: February 1, 2018

Lighting Our Path: United Power Systems Phils. Inc.

Lighting Our Path: United Power Systems Phils. Inc.

Every business needs a vision. And when you have a vision, you need partners to help you realize it. In a way, they should be visionaries themselves. UCPB knows our needs and believes in us and our vision — that we have what it takes to be a Filipino innovator.

When we started, nobody believed that LED technology would fly because of the cost. However, UCPB trusted in our vision, and until today, they continue to help us sustain our operations. This proves that they are forward thinkers like us.

We established the company in 2002 with only P50,000 in capital, a fax machine, and just the two of us and two other staff. We worked out of our house, which was no bigger than the conference room in our current headquarters in Muntinlupa City. We literally had to count every centavo. As our company grew, we took on more employees and more partners. Now, we have around 700 employees, which even swells to 1,400 when we have more projects.

Our projects are very capital-intensive. We need a lot of money at a moment’s notice for our operations. Luckily, UCPB was always there to support us. Our first project together with UCPB was in 2012 when we worked as the electrical contractor for the Philippine Arena in Bulacan. It was a huge project, but we managed to finish it successfully. At the time, we had already installed our smart LED lighting designs in Fort Bonifacio Global City. We were manufacturing our Solatronics Intelligent Management Systems (SIMS), our own brand of innovative lighting products, where you can control streetlights using your smartphone or computer. It’s the first of its kind in the Philippines, and I believe we are the only manufacturer in the country.

After this project, we had other notable ones: the Muntinlupa- Cavite Expressway (MCX), the first automated street lighting for a tollway, and the Unilab Warehouse in Mamplasan, Laguna, the first automated warehousing system in the Philippines.

It’s actually not rocket science. Everybody is concerned with high energy cost. Our technology can result in huge savings, and we can get it done. UCPB understands our advantage, and that’s why they were eager to support our expansion. They gave us a loan for the construction of our LED manufacturing plant at our 2.6-hectare property in Filinvest Laguna Technology Park.

Innovation is at the heart of our growth. We are very strong in research and development, which we started in 2004. We are proud to say that our products are now comparable with those from abroad. We are able to maintain quality, keep prices competitive, and gain a foothold in a niche market.

As we’ve learned in our business, it is more effective if you can customize your products to the needs of your clients. We told UCPB we needed a P30-million credit line, domestic bills purchase, and foreign letters of credit. When UCPB creates offerings for us, everything we need is incorporated into its products. That’s what banking should be about: being flexible and understanding what kind of business your client is in to be able to offer the right products to them.

It is my dream for our cities to have an LED system like the ones we make. Cities do not reap the full benefits of lighting systems that are not properly maintained. Consuming electricity without achieving optimum functionality is like flushing taxpayers’ money down the drain.

Keeping our relationship with UCPB is important for us. They understand our business and believe in our vision, which makes doing business faster and easier. They are very supportive, approachable, and down-to-earth.

With UCPB, our dream for the country can become a reality.

Date posted: January 25, 2018

Tomorrow’s Entrepreneurs: UCPB-CIIF Scholars

Tomorrow’s Entrepreneurs: UCPB-CIIF Scholars

Sometimes there are people who cannot pay back, but can pay it forward.

This is the spirit that fuels UCPB-CIIF Foundation when it partnered with Save Coconut Foundation, Inc. (SCFI) and St. Paul University Quezon City (SPUQC). To empower deserving children of small coconut farmers with management and business skills that will create a ripple effect in their rural communities, the partners offered a scholarship grant for a new and specially designed course in SPUQC: the Bachelor of Science in Social Entrepreneurship.

“We focus on social entrepreneurship so that the scholars know they are not only doing this for themselves but also for their community. What we only ask from them in return is that when they graduate, they return to their communities and give back,” said Dr. Manny Martinez, SPUQC MBA program chairman and associate director of the SPU Center for Admission and Linkages.

UCPB-CIIF Foundation executive director Ricardo Lepatan said the course offers young people with leadership potentials from coconut-growing areas a unique opportunity to become catalysts for social progress in their own community.

Sr. Belinda Hernandez, who heads SPUQC’s guidance office, travelled all over the country’s coconut provinces to scout for potential scholars and administer the exams. After evaluating the shortlisted candidates, 36 UCPB-CIIF scholars from Laguna, Batangas, Quezon, Leyte, Samar, to as far as Davao, Zamboanga, and Basilan made the cut, and comprised the first batch of students under the partnership.

During the university’s Recognition Day, all the scholars were honored together with other students who excelled in academics and extra-curricular activities in the first semester of school year 2016-2017. Three of the scholars — Francis Joy Tamor from Samar, April Grace Jalipot from Leyte, and Kent Llenos from Misamis Oriental — made it to the Dean’s List for obtaining grades of 92% or higher.

For these students, the UCPB-CIIF scholarship is a fighting chance to overcome poverty, not just for themselves and their family, but also for their communities.

Date published: January 17, 2018

Leap of Faith: Dimples Romana

Leap of Faith: Dimples Romana

In our two-storey home in Parañaque City, a large pair of angel wings cast in wood adorns our white brick wall, nestled among our precious collection of paintings by national and up-and-coming artists. These are the most important pieces adorning our house, as they represent my father and sister, who continue to give me wings to follow my own dreams.

I was a shy teenager raised in Brotherhood Compound,which used to be a squatters’ area in Parañaque City. Before he passed away, Papa was a postman while Mama sold slippers from Divisoria to put food on the table. We did not have anything much, and when my sister battled with leukemia for four years, we were left with very little.

It was immediately after my sister’s death that a talent scout saw me in a mall and brought me to ABS-CBN to audition. I couldn’t sing well, but I poured out buckets of tears because I was heartbroken. When the offer came to appear in a TV drama, I thought, whatever it takes to pay the bills and help my family, I’ll do it. The network discovered I had a knack for crying. This was how I became a dramatic actress at the age of 12. Over time, my heart healed, so to sustain my acting, I learned to take my craft seriously and joined several workshops. I was able to send my two other siblings to school with what I earned.

Out of my telenovela earnings, I availed of an auto loan from UCPB to buy a Toyota Fortuner, which I named Vira, after my character in the 1992 remake of Mara Clara. I still use my first car, a Toyota Revo, but the cast and crew used to tease me whenever they would see me, “Bakit ka namamasada?” (Why do you drive a public utility vehicle?). Actors usually own flashy cars but I really don’t mind how others see me. Instead of buying a flashy car, we bought a 3,000-square meter agri-coco land in Alfonso, Cavite to have our own farm.

Over the span of my 14-year marriage with my husband Boyet, we have produced two kids — our 13-year-old daughter Callie and two-year-old son Alonzo — and bought six properties. We always buy in pairs — 2 condominium units, 2 houses, and 2 other real estate properties — which we can hand on to our two children in the future. One of the condominium units and the second house in Parañaque were acquired through a UCPB home loan.

What I like about UCPB, aside from their fast credit approval, is that they actually care about their clients. They give me sound advice when acquiring property which helps me make wise choices. They also help in making sure that all our acquisitions are done in the proper manner which lessens our worries.

We may be a relatively young couple, but we already thought of a strategy to maximize our earnings. We rent out our condominium units to make them self-sustaining. We are also building cottages in our farm to prepare them should we decide to rent them out in the future. Whatever
I earn from my tapings, hosting, and endorsements, I invest in property, artworks, and high-yielding financial instruments rather than being highly liquid. This way, I spend for long-term assets that appreciate in value rather than on spur-of-the-moment luxuries. I also learned from my senior co-actors not to be afraid to invest, as having a financial obligation is the best motivation to get up in the morning and work as hard as you can. This age is also the best time to make mistakes, so to speak, as we still have time to recover in case we encounter any difficulties.

We’re also such big believers in prayers. We go to Manaoag Church once or twice a week to ask for guidance and blessings, and go back to give thanks. We also don’t let go of the things we began with. This is why we have chosen to keep our old home in Brotherhood, this first house, and our first car. They keep us grounded even as we work hard to make our dreams come true.

We teach our kids to appreciate the value of hard work. After all, every single thing we have came from blood, sweat, and, literally, buckets of tears. I tell my daughter: “You’ll never feel the sweetness of victory unless you’ve felt how it was when you had nothing.”

Now in our thirties, we already have everything we need. With God’s grace, we plan to be done with our financial obligations in a few years. And with tons of luck and prayers, the possibilities are endless.

Date published: January 8, 2018

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