RCBC first quarter earnings up 15%
More loans meant better profits for the bank.
Rizal Commercial Banking Corp. (RCBC) reported a 15% ywar on year growth in net income to P1.3 billion, driven by a growing loan portfolio.
In a disclosure to the stock exchange, the Yuchengco-owned bank said consumer lending went up 12% to P106.9 billion while loans to small and medium enterprises also picked up to P53.8 billion.
Also driving growth was subsidiary Rizal MicroBank, whose loan portfolio expanded to P1 billion.