UCPB ups income by 18% in 1st qtr

UCPB posted a net income of P1.04 billion in the first quarter of 2013, 18 percent more than the P883.7 million earnings for the same period last year.

The bank’s revenue growth was mainly driven by a 51% improvement in non-interest income and the 70% increase in trading and securities gain from Treasury activities at P 829.1 million. Likewise, income from trust operations increased by 42% to reach the P32.4 million mark.

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

Jeronimo Kilayko, president and chief executive officer of the bank, stated: “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. We believe that our close relationship with our customers allow us to customize and respond to their needs accordingly.”

The bank’s revenue growth has continued to outpace the slight increase in operating expense of P1.32 billion, a minimal increase

of 4.6% over the first quarter 2012. The combined performance of revenue and operating expense components enabled a robust increase in net income.

Kilayko added: “We are focusing on making sure that our relationship with our clients remains strong. As we celebrate our 50th anniversary this month, we want to concentrate our efforts in continuing this growth trend by focusing on our clients’ needs. We have scheduled a one-stop-shop loan fair on June 1, 2013 at the Venice Piazza, McKinley Hill. We have partnered with dealers, developers, and retailers to be able match our clients’ needs with a suitable loan offer for their chosen car, home, or gadget.”