RIZAL Commercial Banking Corp.'s (RCBC) P4.5-billion net income from January to June 2024 dropped 27.4 percent from P6.2 billion the previous year.
RIZAL Commercial Banking Corp.'s P4.5-billion net income from January to June 2024 dropped 27.4 percent from P6.2 billion the previous year.However, total interest income jumped 24.3 percent to P7.5 billion due to volume and better average yields, with interest income on loans and receivables totaling P6.1 billion, and interest on investments amounting to P1.7 billion.Net interest income, meanwhile, grew 28.6 percent to P19.7 billion from P15.4 billion.
Likewise, credit card billings surged 42 percent, while auto and housing loan portfolios 28 percent year on year.As of end of June, RCBC's personal and salary loan portfolio has surpassed P2 billion. Consumer loans accounted for 36 percent of total customer loans, while corporate and SME comprised 63 percent.The bank's non-performing loan ratio rose to 3.77 percent from 3.4 percent at the end of December 2023. The capital adequacy ratio was at 16.41 percent, compared to 17.
Net Income Falls 27.4% To P4.5B
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