Stock News 2013: UCPB income up 18% in 1st quarter

English: The new logo of United Coconut Planters Bank (Photo credit: Wikipedia)

United Coconut Planters Bank (UCPB) posted an 18 percent increase in net income in the first quarter to P1.04 billion from P883.7 million in the same period last year.

In a statement, UCPB president and chief executive officer Jeronimo Kilayko said the growth in income was mainly driven by a 51 percent improvement in non-interest income.

Kilayko also noted a 70 percent increase in trading and securities gain from treasury activities to P 829.1 million.

Likewise, income from trust operations increased 42 percent to reach P 32.4 million.

Total loans increased 16 percent to P91.1 billion from the same period a year before, with consumer loans growing at a stronger pace of 30 percent as a result of the bank’s more aggressive stance towards marketing its consumer loan products.

“We have placed a great deal of focus on the needs of our customers and meticulously worked to provide them with a range of investment products tailored to their requirements,” Kilayko said.

“We believe that our close relationship with our customers allow us to customize and respond to their needs accordingly.”

The bank’s revenue growth continues to outpace the slight increase in operating expense of P1.32 billion, a minimal increase of 4.6 percent over the first quarter of 2012.

The combined performance of revenue and operating expense components enabled a robust increase in net income.

http://www.philstar.com/business/2013/05/29/947413/ucpb-income-18-q1

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Stock News 2013: UCPB ’12 profit up by 22%

English: The new logo of United Coconut Planters Bank (Photo credit: Wikipedia)

United Coconut Planters Bank posted a net profit of P3.73 billion last year, 22 percent higher than the previous year, on higher interest earnings and extraordinary treasury gains.

“In spite of 2012 being a demanding year both strategically and financially, we at UCPB are satisfied to have achieved these results. We are definitely looking forward to this year, being our 50th anniversary, and revisiting the basic fundamentals that have made us a reliable banking partner for our target market,” UCPB president and chief executive officer Jeronimo Kilayko said in a statement.

The bank grew its loan book by 24 percent to P87.72 billion last year, with the consumer portfolio rising by 33 percent. Corporate accounts made up 45 percent of the loan portfolio.

Net interest income rose about 4 percent to P3.56 billion year on year.

Like most of its peers, the decline in interest rates to record-low levels last year favored the treasury business. Securities trading gains jacked up UCPB’s non-interest income by 47 percent to about P5.2 billion last year.

On fee-based business, ATM transactions grew by 20 percent from the previous year. “The growth in fees will continue to be robust because of the introduction of products such as UCPB Connect, an online facility meant to provide banking flexibility and convenience to clients. This fairly advanced banking system includes a mobile banking component which allows users to access their bank statement and pay bills through mobile devices,” the bank said.

UCPB ended 2012 with total assets hitting P218.72 billion, up by 9 percent from a year before. This was attributed to “sound financial fundamentals and knowledge of the current market conditions.”

http://business.inquirer.net/109307/ucpb-12-profit-up-by-22

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Stock News 2012: UCPB posts 34% profit growth in Q1

The new logo of United Coconut Planters Bank (Photo credit: Wikipedia)
The United Coconut Planters Bank (UCPB) has reported a 34-percent increase in net income to P883.7 million for the first quarter of 2012.

UCPB president and chief executive officer Jeronimo Kilayko attributed the increase to the bank’s ability to take advantage of the volatile fixed income market.

“The bank took advantage of the volatile fixed income market thus expanding its trading gains by more than three hundred folds during the first three months of the year to P486.9 million from P111.2 million in the same period last year,” Kilayko said.

He further explained that despite the normally weak banking activities in the first three months of a given year, UCPB surmounted this by taking advantage of all opportunities.

“Businesses normally slows down during this period but we still managed to sustain our growth in 2012. Our strong first quarter performance bodes well for the future of the bank,” he said, refusing to make a new forecast regarding the bank’s income prospects.

Kilayko said that UCPB would remain focused on its original full year 2012 target of P3.5 to P4 billion in net income.

Net income in 2011 amounted to P3.05 billion and P2.45 billion in 2010.

Meanwhile, interest income from loans rose 15 percent as the bank expanded its loan portfolio to P73.6 million by end of March 2012 from P62.1 as of March 2011.

Consumer loans, mainly the mortgage loans, rose at a faster rate primarily due to the bank’s tie-ups with major real estate developers. This provided bank access to more clients who would like to borrow to build their dream house.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=801988

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Stock News 2011: UCPB income up 44%

Image via Wikipedia
The United Coconut Planters Bank (UCPB) has posted an unaudited net income of P2.39 billion in 2010, surpassing its P2.2-billion target for the year, and exceeding the previous year’s P1.66-billion profit by 44 percent.

“Higher loan and investment volumes, better margins, hefty trading gains and lower fund cost propelled last year’s earnings growth,” UCPB executive vice president and chief finance officer Cesar Rubio said.

Loan portfolio expanded by 16 percent to P54.77 billion, while trading and investment securities by 14 percent to P50.07 billion. The volume expansion, along with the 11-percent improvement in margins, boosted the bank’s interest income by 15 percent, to P7.83 billion. Non-interest income went up by 32 percent to P2.22 billion, bolstered by substantial increase in trading gains.

http://www.philstar.com/Article.aspx?articleId=661765&publicationSubCategoryId=74

Stock News 2000: Uniwide To Dispose Of Properties

The new logo of United Coconut Planters Bank (Photo credit: Wikipedia)
The debt-saddled Uniwide Group will dispose of over 13 hectares in land and building properties, including part of the ambitious Dreamworld project in Naic, Cavite, as part of its repayment scheme to bank creditors.

Among the real estate properties that will be turned over to United Coconut Planters Bank (UCPB) in the dacion en pago arrangement include a 3,111-square meter land with building structures in Tambo, Baclaran; a 14,529-sqm. land area in Calaanan, Caloocan City; and a 112,865-sqm. lot that would have formed the first phase of the development of Dreamworld, a theme park with commercial and amusement centers.

Uniwide, through its 98-percent subsidiary Uniwide Sales Realty and Resources Corp., has forged an agreement with UCPB, a major creditor in its more than P11 billion debt load, to settle P1.044 billion in loan through a dacion de pago involving these properties.

The agreement followed the sale of its convenience store chain, the Uniwide Family Stores, operated by its subsidiary First Paragon Corp. to I-Mart International Corp. for P145 million. This was the first action taken by Uniwide in line with its rehabilitation program overseen by a three-man receivership committee selected by the Securities and Exchange Commission.

The SEC has given the go-signal for the sale of one of Uniwide's prime assets, which was likewise approved by other major creditors Equitable-PCI Bank and Philippine Bank of Communications.

"The interest of FPC's creditors is best served with the proposed conversion of deteriorating assets into cash," the SEC said in its order.

Uniwide investor relations manager Susan Ligerade said while the sale of the store franchise effectively reduces the franchise revenues of the company, "there still remains four Uniwide family store franchises of Uniwide Holdings Inc., which are owned and operated by third party franchisees and from which UHI collects franchise fees."

http://www.philstar.com/Article.aspx?articleId=101231&publicationSubCategoryId=66