RCBC Savings expects loans to increase 20% this year
RCBC Savings Bank, the thrift bank arm of Rizal Commercial Banking Corp., said it expects a 20-percent growth in loans this year, on robust demand for both housing and auto loans.
?We expect a 20-percent growth for loans. It can be derived from auto, housing and also SMEs [small and medium enterprises]. SMEs are expected to grow faster this year. To achieve this target, we must focus on our core competence,? RCBC Savings president Rommel Latinazo said in a news briefing in Makati Tuesday evening.
He said the prospects were bright for auto loans as the domestic automotive industry had grown more than 20 percent annually over the past few years.
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