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UCPB posts P3.03 billion income for the first nine months of 2017, up by 5%

UCPB posts P3.03 billion income for the first nine months of 2017, up by 5%

UCPB reported P3.03 billion in net income for the first nine months of the year, a 5% increase from P2.88 billion last year. This result is driven by the sustained growth of the Bank’s consumer loans portfolio and the notable performance of its bancassurance business launched this year.

The Bank continues to sustain its robust consumer loan portfolio, contributing to the 16% growth in the Bank’s total loan portfolio from P135.97 billion to P157.57 billion, as consumer spending confidence and investment appetite continue to grow. Deposits grew by 11% to P277.96 billion year on year. Its Bancassurance business, which was launched in April 2017, posted an income of P38 million.

Net interest income rose to P8.30 billion, up by 15% in the first 9 months while non-interest income dipped 23% at P1.86 billion compared to the previous year due to lower trading opportunities.

Operating expenses were kept at a minimum, increasing by 9%, even as the Bank continues to respond to growing manpower requirements.

UCPB President and CEO Higinio O. Macadaeg, Jr. notes, “All of our business segments contributed strongly to our record performance this quarter, notably consumer and corporate loans on the back of steady economic growth.”

In October, UCPB completed the transition of all its Automated Teller Machines (ATMs) and replacement of its ATM cards to the EMV technology, the global standard in card payment security. The Bank also successfully implemented its Check Image Clearing System (CICs), resulting in one-day check clearing to give its clients faster access to their funds at 12 noon of the next banking day.

“As the year draws to a close, UCPB will be relentless in continuing to achieve operational efficiencies and raising productivity. Judging from our performance these past nine months, we look forward to an even better year in 2018 for UCPB,” said Mr. Macadaeg.

Date published: December 5, 2017

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Customer Advisories

System Maintenance Schedule: October 20 & 21, 2018 (12mn-3am)

Please be advised that the following electronic banking channels will not be available on October 20, 2018 (Saturday) and October 21, 2018 (Sunday) from 12:01 AM to 3:00 AM: UCPB Connect ATMs Mobile Phone Banking Point-of-Sale (POS) Terminals e-Commerce transactions (online purchases via VISA and Bancnet) CM.Biz 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.

Attention: UCPB Visa Debit EMV Cardholders

Please be advised that cardholders who have not yet activated their UCPB Visa Debit EMV cards will no longer be able to use their cards by December 11, 2018. Activate your card as soon as possible to avoid inconvenience. Read more.

ADVISORY: Local Holidays

Please be advised of the following local holidays and the UCPB branches that will be closed:

Friday, October 19, 2018 – Dumaguete branch (Buglasan Festival – Proclamation No. 600)
Friday, October 26, 2018 – Angeles branch (Tigtigan Terakan Keng Dalan Festival – Proclamation No. 589)

Our ATMs and electronic banking facilities are available even during holidays. Thank you.

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