UCPB Customer Relations Center (+632) 811-9111   |   crc@ucpb.com   |  

UCPB nets P2.91 in first nine months of 2018

UCPB earned P2.91 billion as of September 30, 2018, a 4% decrease from P3.031 billion for the same period last year, as rising interest rates during the period affected the Bank’s net interest margins as well as limited trading opportunities in fixed income securities.

Total interest income grew nearly 10% to P11.44 billion from P10.47 billion a year ago but higher cost of funds curbed the increase in net interest income to only 4%, from P8.31 billion to P8.62 billion.

Loans, mainly coming from the consumer sector, fueled the continued rise of the Bank’s interest earnings with the total portfolio expanding by P17.22 billion or 11% to P178.48 billion from P161.26 billion.

Non-interest income is reported at P1.82 billion, slightly lower than the previous P1.86 billion, as higher revenues from service charges, fees, bancassurance commissions and foreign exchange in the first nine months of the year could not fully offset the contraction of trading and securities gain.

UCPB President and CEO Higinio O. Macadaeg, Jr. said that with the challenging environment likely to persist through the last quarter of the year, “we will focus on businesses where we are particularly strong such as consumer lending, especially the real estate segment, and bancassurance, which stand to grow with the continued expansion of the Bank’s consumer loan portfolio.” Mr. Macadaeg said the Bank will also take up more provisions towards the end of the year, a conservative move to cover the Bank’s growing loan portfolio.

Bancassurance, which UCPB is doing in partnership with United Coconut Planters Life Assurance Corp. (COCOLIFE) and UCPB General Insurance Company (UCPB GEN), significantly increased year on year, contributing to the Bank’s earnings in the first nine months of the year.

Date published: November 23, 2018

Quick Links

Product Name NAVPU YTD Return

As of Feb 15, 2019, 05:44:00 PM

Click here to use our UITF Yield Calculator

For more information, please contact
UCPB Trust Banking Group:
(02) 811-9520, 811-9515, or 811-9541
trust@ucpb.com

Customer Advisories

System Maintenance Schedule: Feb. 17, 2019 (12mn-1am)

Please be advised that the following electronic banking channels will not be available from 12:00 midnight to 1:00 AM on February 17, 2019 (Sunday): Point-of-Sale (POS) Terminals (via BancNet) e-Commerce transactions (online purchases via BancNet) Please take note that UCPB Accountholders will not be able to transact using other banks’ ATM. Kindly schedule your transactions before or after the scheduled maintenance. We apologize for the inconvenience this may cause. We are doing this to ensure consistent and improved service delivery for you. Thank you. Read more.

System Maintenance Schedule: Feb. 10, 2019 (12mn-2am)

Please be advised that the following electronic banking channels will not be available from 12:00 midnight to 2:00 AM on February 10, 2019 (Sunday):

UCPB Connect
ATMs
Mobile Phone Banking
Point-of-Sale (POS) Terminals
e-Commerce transactions (online purchases via VISA and Bancnet)
CM.Biz
My 1Time Payment

Please take note that UCPB Accountholders will not be able to transact using other banks’ ATM. Kindly schedule your transactions before or after the scheduled maintenance.

We apologize for the inconvenience this may cause. We are doing this to ensure consistent and improved service delivery for you.

Thank you. Read more.

Copyright 2016 UCPB. All Rights Reserved.

Main Menu