UCPB bullish on PH economy, trains eyes on Mindanao

DAVAO CITY -- The United Coconut Planters Bank (UCPB) is bullish on the country’s economy, saying it could improve more with the Duterte administration’s push to implement the Build Build Build Program.

UCPB president and CEO, Higinio Macadaeg Jr., also cited the country’s sound Gross National Product (GNP), set to improve at 6 percent to 6.9 percent.

However, Macadaeg said UCPB is training its eyes on Mindanao, which he noted is becoming one of the fastest growing regions in the country.

He said UCPB will be more active in trying to help the countryside in terms of improving product delivery in Mindanao.

UCPB has 233 branches nationwide, 25 of which are in Mindanao, as of March 2018. It has 23 lending offices, seven of which are in Mindanao.

UCPB and UCPB savings banks in Mindanao have combined total deposits of PHP1.43 billion and a loans portfolio of PHP2.81 billion.

Macadaeg said UCPB-CIIF Finance and Development Corp. implements credit programs to fund livelihood projects of coconut farmers intended to augment their income.

Since 1997, UCPB released PHP2.84 billion in total loans, aiding 177,547 household-beneficiaries under CIIF Finance. (Lilian C. Mellejor/PNA)