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UNITED Coconut Planters Bank (UCPB) expects consumer lending to grow
significantly this year, driven primarily by high demand for real
estate loans.
In a statement, UCPB said it eyes P3-billion
worth of consumer loan bookings this year from P2.27 billion last
year.
Last year, UCPB saw a 37-percent increase in
consumer loan bookings to P2.27 billion, consisting of hefty growth
in housing, auto, small business, and personal loans.
Higinio Madaeg, UCPB executive vice-president
for corporate and consumer banking, said the lender booked a
55-percent growth in bookings to P703.4 million in the first quarter
this year from P458 million in the same three-month period last
year.
At end-March, real estate loans surged 93
percent to P339.4 million, auto loans were up 24 percent to P304.6
million, while personal loans jumped 59 percent to P59.4 million.
Under its housing loan program, UCPB will
provide credit facility for teachers and teaching staff, under a
partnership with Jose Rizal University.
This new housing loan program is expected to
provide the boost for the bank’s consumer loan bookings this year,
Lee de Claro, UCPB vice-president for real estate loans, said.
The bank is earmarking an initial P200 million
for the novel program.
Under the memorandum of agreement with the
school, the bank will extend housing loans in the amount of P500,000
or higher to qualified employees of the university.
The loan is payable through monthly salary
deductions over a period of 15 years.
The bank has already approved the first batch of
40 loan applications totaling P30 million.
UCPB intends to replicate the program with other
private universities and colleges, first in Metro Manila, and then
later on expand it to the provincial areas.
In Metro Manila alone, there are about 67
private universities and colleges employing thousands of academic
and nonacademic personnel.
-- Maricel E. Burgonio
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