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Manila Bulletin devider Business devider Banking & Finance devider Yuchengco's RCBC posts 12% profit gain on lower funding costs

Yuchengco's RCBC posts 12% profit gain on lower funding costs

Published Apr 28, 2026 10:29 am
Reginaldo Cariaso
Reginaldo Cariaso
Yuchengco-led Rizal Commercial Banking Corp. (RCBC) posted a 12 percent increase in first-quarter net profit as a double-digit jump in interest income and lower funding costs offset broader economic headwinds.
In a disclosure to the Philippine Stock Exchange on Tuesday, April 28, RCBC reported that the lender’s unaudited consolidated net income reached ₱2.7 billion in the three months through March.
The first-quarter performance was driven by the 25 percent surge in net interest income to ₱15.4 billion, while total gross revenues climbed 16 percent to ₱17 billion.
Consumer loans also grew by 27 percent, continuing to outpace the broader industry despite economic headwinds. Key growth catalysts included a 39 percent uplift in auto loan volumes, a 28 percent expansion in credit card receivables, and a 17 percent increase in housing loans.
RCBC attributed this performance to its data-driven acquisition strategies, which focus on growth within high-quality credit segments.
Total deposits expanded by nine percent to ₱1 trillion, maintaining a CASA (current account and savings account) ratio of 50 percent.
The bank noted that its expanding digital ecosystem continues to drive CASA growth. Notably, deposit costs decreased by 29 percent year-on-year, allowing the bank to efficiently fund its growing portfolio while strengthening its balance sheet.
Earlier this month, RCBC raised a record ₱20.5 billion from its upsized issuance of fixed-rate, peso-denominated Series G ASEAN Sustainability Bonds due 2029. The bonds, which carry a fixed coupon of 6.08 percent per annum, were listed on the Philippine Dealing and Exchange Corp. last April 8.
The bank stated that this is a significant milestone as its largest peso-denominated issuance to date. The bonds saw robust demand from retail and institutional investors, resulting in an order book more than four times the announced minimum issue size of ₱5.0 billion.
RCBC raised the record amount within just four days, concluding the public offer on March 17—well ahead of the original March 27 deadline.
In line with the bank’s sustainability commitments, proceeds will be used to finance or refinance eligible green and social categories under its Sustainable Finance Framework. These bonds are part of RCBC’s ₱200 billion bond and commercial paper program. This offering marks the bank's ninth time tapping the peso bond market, bringing its aggregate bond issuances since 2019 to ₱119.5 billion. (James A. Loyola)

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