Rizal Commercial Banking Corp., the country’s 6th largest lender by assets, said Thursday it posted a P6.2 billion net income in the first half, driven higher by a 14 percent growth in loans.
RCBC, as the bank is better known, said growth was seen across all segments, with lending to both consumer and small and medium enterprises expanding at 18 percent while credit card receivables rose by 48 percent and gross billing up 54 percent on data-driven and personalized campaigns.
It ended the first half with total assets up 17 percent to P1.2 trillion while total deposits rose 22 percent. Its annualized return on assets is 1.11 percent while annualized return on equity is also 11.1 percent.
Gross income was up 10 percent at P23.5 billion in the first half.
RCBC president and chief executive officer Eugene Acevedo expects stronger growth in the coming quarters after the P27 billion capital infusion by Sumitomo Mitsui Banking Corp. following the completion of its purchase of an additional 15 percent of the Philippine lender in July.
“RCBC continues to perform better than the industry as we focus on high growth segments and equip our people with digital and data science tools,” Acevedo said.
The bank recently enhanced its banking app, RCBC Pulz, to serve customers better.
At the end of June, RCBC had a network of 462 branches, 1,409 automated teller machines, and 2,881 ATM Go machines.
