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RCBC to offer new securities in online banking retail platform

Published Jun 17, 2023 10:24 am
The Rizal Commercial Banking Corp. (RCBC) will offer new investment opportunities in RCBC Digital, the Philippines’ only online banking retail platform offering both government and corporate bond securities online. Robert Ramos, group head of the RCBC Trust and Investments Group (TIG), said new debt securities will continue to be offered in its digital platform to provide more investment opportunities to its existing and future customers. The new debt securities will be from either the corporate or government sector. “As of now, we are focusing on offering debt securities due to the higher demand for these types of assets. The lower-risk nature of corporate bonds compared to assets like stocks or equities makes them inviting for investors, particularly in times of market uncertainty,” Ramos said. He further said that, “investors may prefer these types of securities for potentially higher returns, relative liquidity, and the quality of credit”. It was in 2021 when RCBC launched an expanded version of their RCBC Investment Management Account(IMA) to an online platform. Through RCBC IMA Digital, clients can view and access their Investment Management Accounts (IMA) entirely online. It became the first financial institution in the Philippines to secure the approval of the Bangko Sentral ng Pilipinas (BSP) to create and launch an online platform for IMAs. Through this platform, investors get the opportunity to capitalize on primary market peso-denominated government securities and corporate bonds through a convenient digital platform. During the first three months of the year, RCBC TIG has booked all-time high assets under management (AUM), which stood at P147.49 billion as of end-March compared to the P 141.01 billion booked during the same period in 2022. The asset growth was attributed to the bank’s strategic partnerships across other business groups of the bank, like Wealth Management and Retail Banking Group, and was primarily observed in the IMA and trust accounts.
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