Last $53.45 PHP
Change Today -0.40 / -0.74%
Volume 96.3K
As of 3:20 AM 08/22/14 All times are local (Market data is delayed by at least 15 minutes).

rizal commercial banking (RCB) Snapshot

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52 Week High
05/12/14 - $59.00
52 Week Low
08/28/13 - $40.75
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rizal commercial banking (RCB) Details

Rizal Commercial Banking Corporation provides banking and financial products and services to corporate customers, small and medium enterprises, and institutional customers in the Philippines, the United States, Asia, and Europe. Its deposit products include savings and checking accounts, cash cards, savings accounts with automatic transfers, time deposits, and foreign currency deposits. The company’s loan portfolio comprises commercial and consumer loans; and wholesale lending, rediscounting, and guaranty facilities. It also provides remittance, payment and settlement, treasury, trust, money market, and trading services; and overdraft facilities. In addition, the company offers corporate cash management services, such as collection and receivables services; disbursements; government payment services; and third party services comprising collection and receivables services, and payment management services. Further, it provides investment banking services, such as the underwriting of debt and equity securities for distribution through public offering or private placement; syndicated loans, joint ventures, and project finance arranging/packaging services; financial advisory and consultancy services; and mergers and acquisitions services. Additionally, the company offers ancillary services, including day and night depository, deposit pick-up and delivery, foreign currency conversions, foreign trade information, economic and investment research, wealth management, and safety deposit boxes; mobile and Internet banking services; and automated teller machines (ATM) and bills payment machines. As of December 31, 2013, it operated a network of 435 business centers comprising 27 extension offices; and 1,150 ATMs. The company was formerly known as Rizal Development Bank and changed its name to Rizal Commercial Banking Corporation in January 1963. The company was founded in 1960 and is based in Makati, the Philippines.

Founded in 1960

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rizal commercial banking (RCB) Key Developments

RIZAL Commercial Banking Corp. Announces Earnings Results for the First Half of 2014

RIZAL Commercial Banking Corp. announced consolidated unaudited earnings results for the second quarter and first half ended June 30, 2014 2014. The company's profit fell 36% in the first half. Excluding trading gains, total gross revenues rose 8% to PHP 9.85 billion. The bank's net interest income was 23% higher at PHP 7.58 billion in the first half, from PHP 6.17 billion the previous year. Income before tax was PHP 2,447 million against PHP 3,730 million a year ago. Net income attributable to patent company shareholders was PHP 2,022 million against PHP 3,170 million a year ago. Diluted per share was PHP 2.85 against PHP 5.12 a year ago. Net cash generated from operating activities was PHP 8,072 million against PHP 707 million a year ago. Return on average assets was 0.97%. Return on average equity was 8.93%. For the quarter, the company reported net interest income was PHP 3,734 million against PHP 3,128 million a year ago. Income before tax was PHP 932 million against PHP 1,550 million a year ago. Net income attributable to patent company shareholders was PHP 693 million against PHP 1,398 million a year ago.

Rizal Commercial Mulls Acquisitions

Rizal Commercial Banking Corporation (PSE:RCB) is planning to conduct a rights offer on its common shares in a bid to raise PHP 4.5 billion in additional capital. Rizal Commercial Banking said that the proceeds from the right offering, "will allow the bank to strengthen its capital ratios under the global Basel III standards and to support its asset growth". The proceeds will fuel organic growth as well as possible acquisitions.

Rizal Commercial Banking Corporation Announces Resignation of Remo Romulo M. Garrovillo Jr. as Senior Vice President

Rizal Commercial Banking Corporation announced resignation of Mr. Remo Romulo M. Garrovillo Jr. as senior vice president effective July 15, 2014. Mr. Garrovillo resigned to pursue other professional endeavors and interests.


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