THE STATE-controlled United Coconut Planters Bank seeks to jack up lending and deposit-taking volume by double-digit levels this year through an expansion of its distribution network.

The bank is targeting a 16-percent increase in total deposits and a 36-percent growth in new loan bookings for the full year, the bank said in a statement yesterday.

The bank plans to open five new branches and 17 new automated teller machines (ATM) for the rest of the year to end 2010 with 183 branches and 250 ATM sites.

?Market reach and customer service will be the key to hitting our aggressive deposit and loan growth targets this year and next, that?s why we?re focusing on expanding and upgrading our main service delivery channels,? said UCPB executive vice president Edmond Bernardo.

UCPB increased its deposits by P19 billion to P139 billion at the end of August from a year ago and expanded its loan portfolio by P9 billion to P45 billion during the same period. Doris C. Dumlao