Manila Bulletin
RCBC net income up 84% in H1
RCBC’s consolidated net income significantly surged by 84% to P6.14 billion in the first semester of the year, driven by strong performances in its core businesses.
The bank reported a return on equity of 9.5% and a return on assets of 1.1% for the period.
Gross income reached P21.23 billion, with net interest earnings increasing by 18%.
RCBC's earning assets expanded to P850 billion, supported by a substantial 59% growth in its investment securities portfolio.
The bank strategically increased loans in secure sectors like corporate, SME, mortgage, and credit card segments, leveraging data science and analytics.
Cross-selling efforts led to a 27% expansion of its credit card portfolio, resulting in nearly 925,000 cards in force.
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