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Keisha Ta-Asan - The Philippine Star
May 11, 2025 | 12:00am
MANILA, Philippines — Rizal Commercial Banking Corp. (RCBC) saw its net income rise by 10 percent to P2.43 billion in the first quarter of 2025, driven by robust loan growth, higher interest income and expanding digital services.
In a disclosure, the Yuchengco-led bank said gross revenues reached P14.7 billion from January to March, 20 percent higher than a year ago on the back of strong performance across its core businesses.
“Our fast-growing consumer portfolio is boosted by data science and analytics, leading customer acquisition in the right segments,” RCBC president and CEO Eugene Acevedo said.
“We continue to engage customers using our data-driven approach, providing solutions tailored to their needs and preferences,” Acevedo added.
According to the bank, net interest income surged 29 percent to P12.3 billion, supported by a 12-percent increase in the bank’s customer loan portfolio.
Consumer loans led the growth with a 39-percent jump, fueled by a 44-percent rise in credit card receivables and a cards-in-force base of 1.3 million.
Housing and auto loans also posted strong double-digit gains of 24 percent and 45 percent, respectively.
Service fee income likewise rose by 26 percent, reflecting increased credit card use and higher loan transaction volumes. The bank’s net interest margin improved to 4.2 percent due to the higher yield from its expanding consumer loan book.
The listed bank reported total resources of P1.3 trillion as of end-March, up by nine percent year-on-year. Total deposits hit P972 billion, with the current and savings account ratio at 50 percent.
RCBC maintained a strong capital position of P160 billion, with capital adequacy and common equity tier 1 ratios at 16 percent and 13.5 percent, respectively.
As of March, RCBC operated 469 branches, 1,468 ATMs and 5,855 ATM Go terminals nationwide.
