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April 24, 2024

RCBC soars to record P12.2 billion profit in 2023

Rizal Commercial Banking Corp., chaired by bilyonaryo Helen Yuchengco Dee, surged to unprecedented heights, boasting a net income of P12.22 billion.

This record-breaking performance was fueled by robust expansion across various fronts, surpassing industry benchmarks. It firmly established RCBC as the Philippines’ fifth largest private bank with total assets surpassing P1.2 trillion.

RCBC witnessed a 15% year-on-year increase in customer loans to P622 billion. Particularly noteworthy was the surge in consumer loans, soaring by 29%, propelled by surging demand for credit cards and housing loans.

The bank’s CASA (current account/savings account) deposits rose 19 percent to exceed industry averages. This catapulted total deposits to P957 billion.

RCBC ended 2023 with an extensive network comprising 458 branches, 1,460 ATMs, and 5,779 ATM Go terminals strategically dispersed across the nation, ensuring seamless banking experiences for all.

President and CEO Eugene Acevedo underscored RCBC’s dedication to leveraging cutting-edge AI and data science technologies across its operations. This strategic initiative aims to propel product innovation and elevate service standards, ensuring sustained growth and unwavering customer satisfaction in an ever-evolving digital landscape.

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