The Rizal Commercial Banking Corp. (RCBC) projects a 27 percent surge in its total loan portfolio (TLP) from P126 billion in 2023 to P160 billion this year, driven largely by targeted campaigns and innovative special programs.
Ramil De Villa, head of RCBC’s Consumer Lending Group (CLG), is confident in achieving this year’s targets.
“As the unit with the highest growth target among RCBC’s business units, CLG aims to increase its share of growth even further,” De Villa said.
Loan growth is seen driven by campaigns and programs, targeted selling using analytics, new products, upgrading of the existing loans management system, continuous process improvement and internal sales growth.
Furthermore, the lender’s monthly booking has posted a 117-percent year-on-year increase, from P 2.482 billion in January 2023 to P5.4 billion in Jan 2024.
Auto and housing loans registered strong growth as share in RCBC’s total loan portfolio, aside from other consumer products like credit cards, personal loans and salary loans.
“That’s how aggressive we are growing the business. We intend to sustain our momentum this year through our strong synergy with one of our biggest shareholders, Sumitomo Mitsui Banking Corp. SMBC has a specific interest in consumer loans,” De Villa said.
SMBC increased its shareholdings in RCBC in 2023, from 4.999 percent to 20 percent, bringing in P27.126 billion of new core equity Tier 1 (“CET1”) capital to the bank.
The capital infusion is part of the plan to support long-term sustainable asset growth and investments in technology and cyber security and human resources.
SMBC is one of the largest banks in Japan and the commercial banking arm of Sumitomo Mitsui Financial Group (SMFG), while RCBC is a leading financial services provider in the Philippines, offering a wide range of banking and financial products and services.
RCBC is a member of the Yuchengco Group of Companies (YGC), one of the oldest and largest conglomerates in Southeast Asia.
