MikeLigalig.com

The United Coconut Planters Bank (UCPB) will open five new branches and operate 17 more automated teller machines (ATMs) in the last quarter of the year to achieve its 16 percent total deposits and 36 percent new loans targets this year.

UCPB executive vice president for branch banking Edmond Bernardo said the plan is to increase to 183 their branches nationwide and to 250 their ATM sites.

He said the new branches will be put up in Alabang in Muntinlupa, Global City in Taguig, Malabon, and Bacoor and Dasmarinas in Cavite “to take advantage of the strong and steady rise of commercial activities and the growing residential communities in these areas.”

He pointed out that residential communities and small enterprises will give them more opportunities to increase retail deposits and consumer loans while business establishments for corporate deposits and commercial loans.

“Market reach and customer service will be the key to hitting our aggressive deposit and loan growth targets this year and next, that’s why we’re focusing on expanding and upgrading our main service delivery channels,” he said.

As of end-August this year, the bank’s deposits base reached P139 billion, P19 billion higher year-on-year while loans totaled to P45 billion or P9 billion expansion from year-ago’s P36 billion.

Bernardo said that as of last August, their consumer loans alone grew by 70 percent year-on-year and the new branches will enable them to sustain this growth.

Relatively, the UCPB executive said the new ATM sites will be put up in high-traffic areas like commercial centers, transport terminals and big schools both in Metro Manila and the provinces.

He said the 17 new ATMs are in addition to the 15 they opened in the first half this year aside from the old ones they replaced.

The bank is also renovating some of its branches “to enhance market visibility” while some have been relocated “to more progressive sites to increase accessibility and to tap bigger deposit and loan markets.”

Bernardo said 48 of their branches have been relocated or renovated while 16 others are nearing completion and 37 more in the pipeline. (PNA)

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