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United Coconut Planters Bank (UCPB)
Company type
State-owned[1]
Industry
Finance and Insurance
Founded
Manila, Philippines (May 15, 1963; 61 years ago (1963-05-15))
Defunct
March 1, 2022; 2 years ago (2022-03-01)
Fate
Merged into Land Bank of the Philippines with Land Bank as the surviving entity
Headquarters
Makati, Philippines
Key people
Danilo V. Pulido, (Acting Chairman of the Board)
Liduvino S. Geron (Officer-in-Charge)[2]
Products
Financial services
Net income
₱3.3 billion () (2015) [1]
Number of employees
4,064 [3]
Website
www.ucpb.com
The United Coconut Planters Bank, more popularly known by its initials, UCPB, or by its old name, Cocobank, was a government-owned bank and was one of the largest banks in the Philippines, ranking within the top twenty banks in the country in terms of assets. It was the only existing universal bank not listed on the Philippine Stock Exchange. The bank, owing to its name, catered heavily to coconut farmers, but also served a wide-ranging clientele.
In July 2020, the Philippine government raised its stake with the bank to 97%, thus resulting for its conversion to a government controlled bank.[1][4]
Effective March 1, 2022, UCPB merged with Land Bank of the Philippines, with Land Bank as the surviving entity.
As of February 1, 2024, UCPB Savings Bank still survives as a wholly-owned subsidiary of Land Bank of the Philippines as its Thrift Bank affiliate.
^ abGov’t bolsters stake in UCPB to 97% by converting P12B notes. Retrieved August 16, 2020.
^"UCPB Board of Directors". Archived from the original on June 19, 2018.
^"THE STRENGTH AND STABILITY You can rely on" (PDF). Archived from the original (PDF) on January 4, 2017.
^Cite error: The named reference Government expands UCPB stake to majority was invoked but never defined (see the help page).
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Global Information
) (2015) [1]