Land Bank aims to sell UCPB Savings for P2.39B

The Land Bank of the Philippines plans to sell UCPB Savings Bank Inc. for at least P2.39 billion. This sale will happen through a negotiated process. Interested buyers must complete a pre-qualification process. They have until March 24 to send in a letter of intent to participate. The sale includes nearly 7 million common shares of UCPB Savings, with a minimum price of P341.14 each. The privatization was approved by President Marcos in August 2024. UCPB Savings became part of Land Bank after it merged with the United Coconut Planters Bank in 2022. This move reflects Land Bank’s ability to provide similar banking services as UCPB Savings.