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July 04, 2015 6:35 AM ET

Banks

Company Overview of United Coconut Planters Bank

Company Overview

United Coconut Planters Bank offers financial products and services to corporations, private and government institutions, middle market companies, small and medium-sized businesses, and individuals. It provides commercial banking services. Additionally, the bank offers 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. The bank also provides telephone and Internet banking services. United Coconut Planters Bank was founded in 1963 and is based in Makati City, Philippines.

UCPB Corporate Offices

7907 Makati Avenue

Makati City,  

Philippines

Founded in 1963

Phone:

63 2 811 9000

Fax:

63 2 811 9119

Key Executives for United Coconut Planters Bank

Chief Executive Officer, President and Director
Age: 68
Chief Financial Officer, Head of Support Services Group and Executive Vice President
Head of Operations Group and Executive Vice President
Age: 67
President of UCPB Savings Bank
Executive Vice President and Head of Information and Technology Methods Group
Compensation as of Fiscal Year 2015.

United Coconut Planters Bank Key Developments

Government Plans To Sell Stake In UCPB

The government plans to sell its 73.9% stake in United Coconut Planters Bank. The bidders most likely includes Lone Star Funds; Mitsubishi UFJ Financial Group, Inc. (TSE:8306), Security Bank Corp. (OTCPK:SBKC.Q), Carlyle Asia Partners IV, San Miguel Corporation (PSE:SMC). The expected deal size is small at around $350 million. San Miguel Corporation (PSE:SMC) has confirmed that it wants to acquire a stake in United Coconut Planters Bank. San Miguel's President Ramon Ang said the company submitted a Letter of Intent to participate in the privatisation of United Coconut.

Twelve Banks And Other Financial Institutions Submit Letters Of Intent For Stake In UCPB

Twelve banks and other financial institutions have expressed interest in acquiring government’s majority stake in United Coconut Planters Bank (UCPB). On June 17, 2105, Chief Privatization Officer Toni Angeli V. Coo said that the Privatization and Management Office (PMO) had received 12 letters of intent “from a mix of local and foreign entities, banks and private equity firms” as of June 17, 2016 deadline for submission of letters. He added that “some are listed companies, so they may need to complete their own internal processes in order to finalize their own disclosures, and their decision whether to bid.” Industry sources stated that, among the banks that submitted letters of intent were BDO Unibank, Inc. (PSE:BDO), Bank of the Philippine Islands, Philippine National Bank (PSE:PNB), Rizal Commercial Banking Corporation (PSE:RCB), Mitsubishi UFJ Financial Group, Inc. (TSE: 8306) and Robinsons Bank Corporation., as well as at least four foreign entities from Japan, Malaysia and Taiwan. According to previous reports, China Banking Corporation (PSE:CHIB), EastWest Banking Corporation (PSE:EW), Security Bank Corp. (OTCPK:SBK.Q) and UnionBank of the Philippines (PSE:UBP) had also expressed interest in participate in the bidding. The stake sale is expected to be concluded by September 2015. The transaction would require the winning bidder to recapitalize the bank in the amount of at least PHP 15 billion through subscription to up to 37.2 billion primary common shares of UCPB.

United Coconut Planters Bank Announces Consolidated Earnings Results for the Full Year of 2014; Provides Earnings Guidance for the Year 2015

United Coconut Planters Bank announced consolidated earnings results for the full year of 2014. For the period, the company’s net interest income climbed to PHP 8.9 billion from PHP 7.69 billion, mainly attributed to its loans and receivables which expanded to PHP 7.87 billion from the PHP 6.96 billion recorded in 2013. The company's total operating income, meanwhile, rose to PHP 11.07 billion from PHP 10.54 billion even as the bank's trading gains plummeted to PHP 174.23 million from the PHP 1.43 billion recorded in 2013. This decline was offset by its income from charges, fees and commissions, which went up to PHP 968.41 million from PHP 853.56 million. The company’s full-year 2015 profit is forecast to rise to as high as PHP 3.5 billion from PHP 3.13 billion in 2014.

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