United Coconut Planters Bank
|This article needs additional citations for verification. (January 2014)|
|Founded||Manila, Philippines (1963)|
|Key people||Menardo R. Jimenez, Chairman
Jeronimo U. Kilayko, President and CEO
|Net income||P3.73 billion PHP () (2012) |
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.
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 "to provide readily available credit facilities to the coconut farmers at preferential rates." The PCA, headed by Juan Ponce Enrile, then purchased the 72.2 percent of First United Bank owned by Jose Cojuangco.
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
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.
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
• 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
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
Subsidiaries of UCPB are the following:
- UCPB Leasing and Finance Corporation
- UCPB Savings Bank
- UCPB Securities, Inc.
- Panesa, Edmer F. "Cojuangco loses claim to UCPB block". Manila Bulletin. MB.com.ph. Retrieved 2007-12-04.
- UCPB website
- UCPB expects 15% increase in net income next year
- UCPB Income up 18% in Q1
- [www.facebook.com/UCPB.Connect Official UCPB Facebook Page]
- [www.twitter.com/UCPB_Connect Official UCPB Twitter Page]
- UCPB Corporate Life Extended
- Gov’t set to bid out stake in UCPB
- "Bank ordered to pay P1B to client over fraudulent loan".
- Former GMA Network exec elected UCPB chair