In a disclosure to the stock exchange on Tuesday, Feb. 25, 2025, the bank said its net interest income rose 26 percent to P42.5 billion, supported by a 40-percent expansion in consumer loans.
Total resources reached P1.4 trillion by year-end, while net income grew 13.6 percent year-on-year, excluding non-recurring gains from 2023.
RCBC’s total loan portfolio grew 17.2 percent to P709.7 billion, surpassing the banking industry’s average loan growth of 11.1 percent as of November 2024.
Consumer loans accounted for 40 percent of the portfolio, with credit card receivables rising 48 percent as cards in force increased 21 percent and billings climbed 41 percent. Mortgage and auto loans expanded by 30 percent.
“We have grown our consumer loan portfolio at blistering speeds, surpassing industry,” RCBC president and CEO Eugene Acevedo said. “This complements our portfolio strategy while ensuring strong engagement with our customer base as their primary bank.”
“Data analytics and digital enhancements have become key drivers for our core income growth in 2024 and will remain to be our priorities in 2025,” he added.
The bank’s total deposits stood at P1.027 trillion, with a current account/savings account-to-total deposits ratio of 52.6 percent, representing a substantial base of low-cost funds to be used for lending activities.
It raised $350 million through five-year sustainability bonds to support green and social projects under its Sustainable Finance Framework.
RCBC maintained its capital position with P158.5 billion in equity and a Tier 1 capital ratio of 13.53 percent.
Recognized for its digital advancements, RCBC won multiple awards, including “Digital Bank of the Year” and “Corporate Bank of the Year.”
As of December 2024, RCBC operated 465 branches, 1,482 ATMs, and 8,426 ATM Go terminals nationwide.
