Filipino Bank Expanding ATM Network

Posted by John B. Frank Friday, July 24, 2009

Business Mirrorin the Philippines reports that United Coconut Planters Bank plans toexpand its ATM network by 87 percent, adding 191 new units, to meet thedemand that has built for a larger network over the last year.

In 2008, the bank’s 220 ATMs handled 12.2 million transactions.

According to Business Mirror, UCPB is poised for significant growth:

"With a stronger capital base, UCPBhad said it would be able to tap growth opportunities in the middle andconsumer markets. Its loan portfolio expanded by P10 billion or 43percent to P33.2 billion by end-March, with commercial loans increasingby 53 percent or over P7 billion to P22.8 billion. Consumer loans rose47 percent, or nearly P2 billion to P5 billion."

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