The government now owns 97 percent of United Coconut Planters Bank (UCPB), the Department of Finance (DoF) announced on Friday.
RAISING THE STAKE Philippine Deposit Insurance Corp. (PDIC) President Roberto Tan (second from left) hands over to United Coconut Planters Bank Officer in Charge Liduvino Geron (from left) the certificate of capital notes in exchange for the certificate of special preferred shares that increased the government’s stake in UCPB in simple rites held at the state-run bank’s headquarters in Makati City on July 9, 2020. With them are Finance Secretary and PDIC Chairman Carlos Dominguez 3rd (third from left) and PDIC Board Director Anita Linda Aquino. DOF PHOTO