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RCBC bank 'fighting its way back' to the top, president says

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Cathy Yang, ABS-CBN News

<p>MANILA – Rizal Commercial Banking Corp is regaining ground, as it recovered from the fallout of a $81 million (P4.1 billion) money laundering caper, its president said Friday. </p><p>The Yuchengco-controlled lender fell to 8th from 5th over all but deposit levels are now back to normal, RCBC President Eugene Acevedo said in an exclusive interview with ANC’s The Boss, his first since his appointment. </p><p>&quot;The main impact of that was we lost a bit of deposits in the first year but I&#x27;m happy to report that the levels are back to normal in fact our deposits have been growing. What we really need to do now is go back and what we’ve missed in the last 3 years,&quot; Acevedo said. </p><p>&quot;The objective is, really to make sure that we don’t see other banks overtaking us again. We’re hoping that in the next 3 to 5 years, we’ll be able to fight our way back to no. 5,&quot; he added. </p><p>Its consumer loan business helped offset losses. It&#x27;s credit card business grew 31 percent, while its auto loans and home loans grew from 14 to 17 percent, he said. </p><blockquote class="instagram-media" data-instgrm-permalink="https://www.instagram.com/p/B0X_00tn8IR/" data-instgrm-version="12" style="background:#FFF;border:0;border-radius:3px;box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15);margin:1px;max-width:540px;min-width:326px;padding:0;width:calc(100% - 2px)"><div style="padding:16px"><div style="display:flex;flex-direction:row;align-items:center"><div style="background-color:#F4F4F4;border-radius:50%;flex-grow:0;height:40px;margin-right:14px;width:40px"> </div><div style="display:flex;flex-direction:column;flex-grow:1;justify-content:center"><div style="background-color:#F4F4F4;border-radius:4px;flex-grow:0;height:14px;margin-bottom:6px;width:100px"> </div><div style="background-color:#F4F4F4;border-radius:4px;flex-grow:0;height:14px;width:60px"> </div></div></div><div style="padding:19% 0"> </div><div style="display:block;height:50px;margin:0 auto 12px;width:50px"><a href="https://www.instagram.com/p/B0X_00tn8IR/" style="background:#FFFFFF;line-height:0;padding:0 0;text-align:center;text-decoration:none;width:100%" target="_blank"><svg height="50px" version="1.1" viewBox="0 0 60 60" width="50px" xmlns="https://www.w3.org/2000/svg" xmlns:xlink="https://www.w3.org/1999/xlink"><g fill="none" fill-rule="evenodd" stroke="none" stroke-width="1"><g fill="#000000" transform="translate(-511.000000, -20.000000)"><g><path d="M556.869,30.41 C554.814,30.41 553.148,32.076 553.148,34.131 C553.148,36.186 554.814,37.852 556.869,37.852 C558.924,37.852 560.59,36.186 560.59,34.131 C560.59,32.076 558.924,30.41 556.869,30.41 M541,60.657 C535.114,60.657 530.342,55.887 530.342,50 C530.342,44.114 535.114,39.342 541,39.342 C546.887,39.342 551.658,44.114 551.658,50 C551.658,55.887 546.887,60.657 541,60.657 M541,33.886 C532.1,33.886 524.886,41.1 524.886,50 C524.886,58.899 532.1,66.113 541,66.113 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translateY(1px);width:12.5px;flex-grow:0;margin-right:14px;margin-left:2px"> </div><div style="background-color:#F4F4F4;border-radius:50%;height:12.5px;width:12.5px;transform:translateX(9px) translateY(-18px)"> </div></div><div style="margin-left:8px"><div style="background-color:#F4F4F4;border-radius:50%;flex-grow:0;height:20px;width:20px"> </div><div style="width:0;height:0;border-top:2px solid transparent;border-left:6px solid #f4f4f4;border-bottom:2px solid transparent;transform:translateX(16px) translateY(-4px) rotate(30deg)"> </div></div><div style="margin-left:auto"><div style="width:0px;border-top:8px solid #F4F4F4;border-right:8px solid transparent;transform:translateY(16px)"> </div><div style="background-color:#F4F4F4;flex-grow:0;height:12px;width:16px;transform:translateY(-4px)"> </div><div style="width:0;height:0;border-top:8px solid #F4F4F4;border-left:8px solid transparent;transform:translateY(-4px) translateX(8px)"> </div></div></div><div style="display:flex;flex-direction:column;flex-grow:1;justify-content:center;margin-bottom:24px"><div style="background-color:#F4F4F4;border-radius:4px;flex-grow:0;height:14px;margin-bottom:6px;width:224px"> </div><div style="background-color:#F4F4F4;border-radius:4px;flex-grow:0;height:14px;width:144px"> </div></div><p style="color:#c9c8cd;font-family:Arial,sans-serif;font-size:14px;line-height:17px;margin-bottom:0;margin-top:8px;overflow:hidden;padding:8px 0 7px;text-align:center;text-overflow:ellipsis;white-space:nowrap"><a href="https://www.instagram.com/p/B0X_00tn8IR/" style="color:#c9c8cd;font-family:Arial,sans-serif;font-size:14px;font-style:normal;font-weight:normal;line-height:17px;text-decoration:none" target="_blank">A post shared by Cathy Yang (@cathyyapyang)</a> on <time dateTime="2019-07-26T09:28:59+00:00" style="font-family:Arial,sans-serif;font-size:14px;line-height:17px">Jul 26, 2019 at 2:28am PDT</time></p></div></blockquote><div><script async="" src="https://www.instagram.com/embed.js" type="text/javascript"></script></div><p>&quot;In the last 6 months I’ve spent time with the RCBC bankers and asked them how they felt…The question I asked was ‘Do you have enough fight left in you’ and the answer was, at least after 6 months, was a resounding ‘yes.’ They’re in the mood to run again and we hope to give our competitor banks some excitement,&quot; Acevedo said.</p><p>“Now we need to make sure that all other engines will be able to run at the usual speed they used to be running at,” he said. </p><p>The Securities and Exchange Commission&#x27;s approval of the merger between RCBC and RCBC Savings Bank will also help grow its consumer loan business, he said. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/07/23/19/rcbc-secures-regulator-approval-for-merger-with-thrift-unit">RCBC secures regulator approval for merger with thrift unit</a></li></ul><p>RCBC is also using tools such as data analytics to improve the customer experience. It aims to tap the rising middle class by doubling the number of its sales staff to 1,500 from 750 over the next 2 to 3 years, he said. </p><p>“All the things we do, using data, using digital tools will enable us to tighten the process, release more headcount and use that headcount to go after more businesses,” Acevedo said.</p>

<p>Rizal Commercial Banking Corp is regaining ground, as it recovered from the fallout of a $81 million (P4.1 billion) money laundering caper, its president said Friday.</p>

Rizal Commercial Banking Corp is regaining ground, as it recovered from the fallout of a $81 million (P4.1 billion) money laundering caper, its president said Friday.

RCBC bank 'fighting its way back' to the top, president says

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RCBC bank 'fighting its way back' to the top, president says

Cathy Yang,

ABS-CBN News

Published Jul 26, 2019 05:03 PM PHT

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Updated Jul 26, 2019 05:39 PM PHT

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