MANILA, Philippines — Before he became president and chief executive officer of Rizal Commercial Banking Corp. (RCBC), Reginaldo “Reggie” Cariaso served as a submarine officer in the US Navy, a chapter of his life that now quietly informs his leadership style in banking.
In his first press chat since taking the helm of the Yuchengco-led bank in June, Cariaso shared how his military background influences the way he approaches major challenges.
“Modern militaries employ a strategy called combined arms operations where you combine the use of ground troops, air support, naval support and logistics,” Cariaso said.
“When you’re taking on a big mission, you don’t send your troops in first. You blind the enemy, take out their GPS, soften their defenses, cut off supply lines, gather intelligence, use decoys and then you strike,” he said.
He sees the same layered strategy as applicable in banking.
“We’re going to do the same with the bank’s assets. Deploy them in a more coordinated way and optimize how each is used. That’s how you take on big goals — not all at once, but with focus, sequencing and precision,” he added.
The former naval officer’s emphasis on discipline and alignment comes at a time when RCBC is ramping up efforts to deliver a sustainable double-digit return on equity by 2026, driven by strategic investments in people, technology and customer engagement.
“We definitely want to go double digit,” Cariaso said. “Probably next year. We still have another half of the year. But I do think that 2026 will see more of our investments in people, technology and partnerships start to be evident.”
Cariaso, who officially took over in June, emphasized that the bank’s future success hinges on strengthening its talent base.
“Going forward, I’m going to be very involved in the recruitment process, the evaluation process… not only for the new people that we hire, but also to see how employees perform and execute our plans,” he said.
Having spent the past year and a half inside the bank as senior executive vice president, Cariaso said he’s had time to understand the institution’s internal culture and the kind of leadership it needs.
RCBC reported a 10-percent increase in net income to P2.43 billion in the first quarter of 2025, on the back of strong loan growth, higher interest income and expanding digital services.
Digital banking remains central to RCBC’s growth play.
“Digital is the way to go. It’s proven to be more cost-effective, easier to scale and now much more readily available,” he said.
But Cariaso is clear that the bank will not sacrifice service quality or human touch in the process. While RCBC will continue to optimize its digital footprint, the bank sees a continuing role for brick-and-mortar locations, particularly in sales, advisory and customer support.
“We’re not going to be a digital-only bank. When problems happen, whether it’s fraud or questions about their accounts or loans, sometimes customers want to talk to a human being. So we want to be there for them.”
RCBC operates 469 branches nationwide and boasts one of the country’s largest ATM networks, including 1,470 RCBC-owned ATMs and 5,855 ATM Go terminals as of March 2025.
Cariaso also sees opportunity in deepening the bank’s ties with its existing customer base of four million.
“Of course, one of the goals would be to expand the customer base,” he said. “But when the four million clients really enjoy banking with us, it will be easier to grow beyond that because they will be our best promoters.”
He also said that client satisfaction is key: “We have to focus on our customers. Then when we’re confident that our customers are happy, acquiring new customers will be easier.”
Cariaso graduated with a degree in chemistry from the University of Pennsylvania. He served in the US Navy before transitioning to investment banking and eventually joining RCBC.
From navigating the depths of the ocean as a submarine officer to steering one of the country’s top banks, Cariaso brings with him a quiet confidence forged by discipline, strategy and service.
Now at the helm of RCBC, he’s set on applying those lessons to guide the bank through uncertainty and into a future of sustainable growth.
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