RIZAL Commercial Banking Corp. (RCBC) on Friday reported a 20-percent increase in consolidated net income to P5.3 billion in the first half, driven by robust core business performance and continued expansion of its digital banking services.
Net interest income rose 33 percent year-on-year, underpinned by a higher net interest margin of 4.57 percent compared to 3.71 percent a year earlier.
Core lending activities were a key growth driver, with the bank’s customer loan portfolio expanding by 14 percent during the period.
Consumer lending led the growth, up 38 percent, followed by credit cards and personal loan volumes that rose by a combined 47 percent. Auto loans and housing loans grew 46 percent and 24 percent, respectively.
The bank attributed the improvement to “effective cross-selling initiatives,” noting that its digital platforms, including RCBC Online Banking and RCBC Pulz, helped support both loan and income growth.
Digital transaction volumes increased by 28 percent as the bank continued to widen its digital user base.
“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,” RCBC President and CEO Reggie Cariaso said in a statement.
The bank’s capital base improved, growing 7 percent to P163 billion thanks to stronger earnings.
The capital adequacy ratio stood at 16.21 percent while common equity tier 1 ratio was at 13.71 percent.
RCBC shares on Friday closed unchanged at P25.00 each.
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