Yuchengco family’s strategic moves yield record revenues for RCBC in 9 months

Rizal Commercial Banking Corp. (RCBC), chaired by bilyonaryo Helen Yuchengco Dee, reported a net profit of P9 billion in the first three quarters of the year, down 11 percent due to a significant non-recurring income recorded in the same period last year.

Despite this decline, net interest income remained steady at P24.2 billion. In contrast, the bank concluded the nine-month period with record-high revenues, reaching P36 billion.

Total assets grew 12 percent to P1.2 trillion, propelled by double-digit growth in customer loans and elevated loan volumes across all segments. The consumer segment, in particular, expanded by 23 percent year-on-year, with credit cards experiencing a remarkable 49 percent surge in their portfolio, fueled by the issuance of new cards.

RCBC highlighted the recent surpassing of the one million mark in cards-in-force, supported by data-driven acquisition strategies and cross-sell campaigns.

Emphasizing a commitment to customer experience in their digital transformation strategy, RCBC President and CEO Eugene Acevedo stated, “These innovative and high-impact AI and digital use cases were key to the bank’s sustained growth despite challenging external headwinds.”

As of September, RCBC boasts a consolidated network comprising 459 branches, 1,448 automated teller machines, and 3,426 ATM Go terminals strategically positioned nationwide.