MANILA, Philippines — Rizal Commercial Banking Corp. (RCBC) of the Yuchengco family posted a 20-percent jump in its net income to P5.3 billion in the first half, driven by strong growth in its core business and a surge in consumer lending.
The bank’s net interest income surged by 33 percent as its net interest margin improved to 4.57 percent during the six-month period from 3.71 percent in the same period last year.
RCBC president and CEO Reginaldo Cariaso said the listed bank is strengthening its digital capabilities to meet customer needs.
“We’re going to make data-driven decision making a core part of our way of doing things, so that we can make intelligent and resourceful decisions when we engage our clients,” Cariaso said.
“We’re investing in ways that we can understand our clients and get all their financial needs met through RCBC,” he added.
The bank said the 14-percent expansion in its customer loan portfolio supported the strong momentum, with consumer lending rising by 38 percent.
Credit cards and personal loans jumped by 47 percent, auto loans by 46 percent and housing loans by 24 percent, backed by cross-selling initiatives.
RCBC also reported a 28-percent increase in digital transaction volumes, as its platforms RCBC Online Banking and RCBC Pulz continued to attract more users.
“Digital finance solutions are making banking intuitive and accessible for a wider range of customers,” RCBC said.
The lender’s capital position remained solid at P163 billion, increased by seven percent, with capital adequacy ratio at 16.21 percent and common equity tier 1 ratio at 13.71 percent.
As of end-June, RCBC operated 470 branches, 1,488 ATMs and 6,549 ATM Go terminals across the country.
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