United Coconut Planters Bank

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United Coconut Planters Bank
Type Private
Founded Manila, Philippines (1963)
Headquarters Makati, Philippines
Key people Menardo R. Jimenez, Chairman
Jeronimo U. Kilayko, President and CEO
Products Financial Services
Net income P3.73 billion PHP (Increase) (2012) [3]
Website www.ucpb.com

The United Coconut Planters Bank, more popularly known by its initials, UCPB, or by its old name, Cocobank, is one of the largest banks in the Philippines, ranking within the top twenty banks in the Philippines in terms of assets. It is one of two universal banks not listed on the Philippine Stock Exchange, the other being Allied Bank.

It is a leading provider of financial products and services to corporations, private and government institutions, middle market companies, small - and medium-sized businesses and individuals in the Philippines. It operates nationwide delivering a full range of expanded commercial banking services to a highly diversified clientele. It has strong capabilities in consumer finance, commercial credit, corporate and investment banking, trust banking, domestic and international trade finance, treasury and money market investment, cash management and deposit services.

UCPB has always been at the forefront of customer service innovations. It was among the first banks to introduce an ATM service in the late 1980s. In 1991, it took the lead with three other banks in organizing Megalink, the Philippines’ first shared ATM network. The bank has since expanded its electronic banking capability with telephone banking and Internet banking facilities. These facilities now handle billions of pesos worth of client transactions.

History[edit]

The last incarnation of the original logo of UCPB, which lasted from the 1980s until 2009.

UCPB started on May 15, 1963, as First United Bank (Philippines). With only four branches at the time, it was a small commercial bank.[3]

UCPB's origin can be found in Presidential Decree 775 (or P.D. 775) where President Ferdinand Marcos in July 29, 1975, instructed the Philippine Coconut Authority (PCA) to "formulate and recommend for adoption credit policies affecting production, marketing and processing of coconut and other palm oils" and "to provide readily available credit facilities to the coconut farmers at preferential rates."[4] The PCA, headed by Juan Ponce Enrile, then purchased the 72.2 percent of First United Bank owned by Jose Cojuangco.[5]

Cocobank was the official short bank name in the 1980s and the early 1990s.

In 1990, UCPB, along with Equitable Banking Corporation (now Banco de Oro Universal Bank), Philippine National Bank and the Far East Bank and Trust Company (now the Bank of the Philippine Islands), formed MegaLink, one of the three main interbank networks in the Philippines. However, UCPB's ATM services date back to the 1980s, when it was one of the first financial institutions to offer ATM services. It established its pre-need services arm, Cocoplans, in 1993.

The bank is also heavily involved in social development projects and other charity works. Today, UCPB is one of the largest Philippine banks, with 188 branches and 279 ATMs nationwide. It is also the only universal bank to have a rural banking subsidiary, although this has since been merged into its thrift banking operations since late 2005.

Products and Services[edit]

UCPB is a leading provider of financial products and services to corporations, private and government institutions, middle market companies, small - and medium-sized businesses and individuals.[6]

Deposits: Peso Accounts, Foreign Currency Accounts and Time Deposits

Peso Accounts • Multi-One (Checking Account with ATM and Passbook) • ATM Peso Savings Account • Passbook Peso Savings Account • Checking Account • Kiddie Max (Savings Account for Children 0–17 years old)

Foreign Currency Accounts •US Dollar Savings Account •Euro Savings Account •Japanese Yen Savings Account •GBP Savings Account

Time Deposits • Peso Time Deposit • US Dollar Time Deposit

'Remittance Services' - U-remit Accounts and Inward Remittances Through Tie-Ups and Correspondent Banks

U-remit Accounts • U-remit ATM Savings Account • U-remit Passbook Savings Account • U-remit US Dollar Savings Account • U-remit Peso Checking Account

Inward Remittances Through Tie-Ups and Correspondent Banks • U-remit System • Direct Credit to UCPB Accounts • Direct Credit to Local Bank Accounts thru the BSP Philpass Facility, Batch-to-Online (BATON), BSP PCHC, RTGS and PDDTS • Cash Pick Up over UCPB Branches • Cash Pick Up over MLhuillier Branches • Payout Centers for Coinstar, Uniteller, EzRemit, Cash Express, AFTAB, Maybank, Iremit

Cash Management services for Collections, Disbursements and Account Management

Collections • Bills Payment • One-Way Depository Arrangement (OWDA Plus) • Auto Collect (Automatic Debit Arrangement) • Point-of-Sale (POS) Collection Service • Internet Payment Gateway • National Government Collections • Post-Dated Check Warehousing with Online Facility (PDC.Biz) • Corporate Collection Service • Night Depository Service • Deposit Pick-Up / Cash Delivery Service

Disbursements • Checkwriter.Biz Online Check Disbursement Facility • UCPB eMoney Card • Payroll Facilities • CM Payroll (Payroll Crediting Facility) • Payroll Max (Payroll Software for Salary Preparation and Crediting) • BIR-eFPS • Pension Crediting • Direct Deposit for US Pensioners • Batch to Online (BATON) Inter-Bank Fund Transfer Facility Webservice

Account Management • Automatic Transfer Arrangement • Sweep Facility

Electronic Banking Facilities • UCPB CM.biz • UCPB Connect • UCPB Mobile Phone Banking Service (iOS, Android and Java) • UCPB Telebanking • UCPB My1Time.Com • UCPB Automated Teller Machines • On-site and Off-site Deployment • Mobile ATM

Special Services

• Conduit Clearing Arrangement with Online Check Disposition Facility (CCA.Biz) • Depository and Custodianship Service • Mobile and In-Plant ATM

Consumer Loans - Auto Loans, Home Loans, Personal Loans and Small Business Loans

Auto Loans - Brand New, Second Hand, Refinancing, Fleet Financing

Home Loans - Condominiums, Townhouses, Houses and Lots; Refinancing, Construction, Multi-Purpose Loans

Personal Loans - Your Easy Salary Loan (YES Loans); Salary Loans (Corporate Arrangements); UCPB Credit Card

Small Business Loans - Term Loan; Promissory Note (PN) Line; Franchise Loan

Commercial Credit - Non-Trade Short Term Loans and Non-Trade Long-Term Loans

Non-Trade Short-Term Loans • Omnibus Line • Promissory note-Peso/Foreign Currency • Bridge Financing • Check Discounting • Domestic/Foreign Bills Purchase • Foreign Currency Settlement • Account Receivable Discounting • Committed Credit Line • Short-Term Loan

Non-Trade Long-Term Loan • Term Loan-Peso/Foreign Currency • Term Loan/Syndicated-Peso/Foreign Currency • Term Loan-Special Funding (DBP, LBP,SSS) • Term Loan with Guarantee- GFSME,SPGFC,HIGC, LGUGC and PHILEXIM

Trade Services • Documentary Credit-Foreign / Domestic • Standby Letter of Credit – Foreign / Domestic • Trust Receipt Financing • Shipside Bond/Bank Guarantee • Documents Against Acceptance • Documents Against Payment • Open Account Arrangement • Direct Remittance • Advance Payment • Collection of Custom Duties and Taxes (E2M) • Export Documentary Credit Advising • Export Advance • Export Bills Purchase • Export Bills for Collection

Treasury Services - Peso-Denominated Investments, US Dollar Investments and Foreign Exchange

Peso-Denominated Investments

Government Securities • Treasury Bills • Retail / Treasury Notes • ROP US$ Denominated Debts • BSP$ Denominated Debts Prime Corporate Bonds Repurchase Agreement

US Dollar-Denominated Investments Republic of the Philippines (ROP)Dollar Bonds Prime Corporate Bonds Commercial Papers

Foreign Exchange Spot Transactions Forward Transactions

Trust Services - Personal and Corporate Trust Services; Unit Investment Trust Funds (UITF)

Personal Trust Services •Living Trust Account •Individual Agency Accounts (IMA) •Administratorship •Executorship •Guardianship •Safekeeping •Escrow - Buy and Sell, Capital Gains,POEA

Corporate Trust Services •Institutional Agency Account (IMA) •Employee Benefit Fund Management •Pre Need Fund Management •Mortgage Trust Indenture •Loan Agency •Safekeeping •Escrow - Buy and Sell, POEA

Unit Investment Trust Funds • UCPB Cash Management Fund • UCPB Peso Bond Fund • UCPB Balanced Fund • UCPB Equity Fund • UCPB US Dollar Money Market Fund

Subsidiaries and affiliates[edit]

UCPB Savings Bank, Inc. branch in Lucban, Quezon

Subsidiaries of UCPB are the following:

  • UCPB Leasing and Finance Corporation
  • UCPB Savings Bank
  • UCPB Securities, Inc.

Competition[edit]

Due to its position as a universal bank, UCPB competes primarily against major Philippine banks like Metrobank, Banco de Oro, BPI, Land Bank of the Philippines and Philippine National Bank.

See also[edit]

References[edit]

External links[edit]