Monday 21 May
Powered by Ajaxy
Feb 13, 2018 @ 13:08

RCBC Q4 income doubles to hit nearly P1B

 

This bank has bounced back on its feet.

The Rizal Commercial Banking Corporation (RCBC) said it made P904 million in the fourth quarter of 2017, representing a more than double increase from the P368 million booked during the same period in 2016.

Net interest income grew by 27 percent, while non-interest profits surged by 19 percent, RCBC said in a disclosure.

For full-year 2017, the listed bank owned by the Yuchengco clan booked P4.3 billion in consolidated net income, up by 11.4 percent from the P3.9 billion made in 2016.

Growth across all loan segments fueled higher RCBC profits, with total portfolio rising by 16 percent to reach P353 billion. Corporate debt grew by 12 percent while consumer loans by 15 percent. Lending to small scale enterprises posted the biggest pickup at 39 percent.

Gross income reached P25.1 billion for the full year. Operating expenses, meanwhile, inched up by just 2.3 percent to reach P17.8 billion.

Tags: , , , ,

Related Stories
This bank is gearing up for the digital race.
The Ayala and Yuchengco families have signed a non-binding deal to merge their educational units
PetroEnergy Resources Corp. is issuing P1.18 billion worth of shares to stockholders to further expand
Can you imagine entering the bank branch and going straight to the counter?


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.