UCPB Savings Bank

UCPB Savings Bank, Inc. (the Bank) is a domestic savings bank, incorporated on October 18, 1962 to provide services such as deposit-taking, loans and domestic fund transfers. The Bank is a 97.4%-owned subsidiary of United Coconut Planters Bank (UCPB). The Bank is the surviving entity of a merger with UCPB Rural Bank, Inc (URB), another subsidiary of UCPB, on December 29, 2005. URB was incorporated in the Philippines on August 2, 1990 to engage in the business of extending credit to the small farmers and tenants, and to rural industries or enterprises, to accept deposits and transact business which may legally be done by rural banks. The said merger was approved by the Securities and Exchange Commission (SEC) and Bangko Sentral ng Pilipinas (BSP) on January 5, 2006 and November 5, 2005, respectively. As a banking institution, the Banks operations are regulated and supervised by the BSP. In this regard, the Bank is required to comply with the rules and regulations of the BSP such as, ...