Rizal Commercial Banking Corp., the ninth-largest lender in terms of assets, said it will put up more branches in export processing zones catering to both local and foreign locators.
RCBC president Gil Buenaventura told reporters the bank would continue to expand particularly in growth areas such as consumer and small and medium enterprises.
“Actually, we are covering all sectors but I think we just want to maintain our niche market, increase our presence in the export processing zones,” Buenaventura said.
“As you know, RCBC is the pioneer in the export processing zones and we want to make sure that we continue to enjoy that role in those areas. So I think if we ever do expand our branches, it will be in these export processing zones to cater to locators,” he said.
He said RCBC had already complied with the previous 50 licenses given by the Bangko Sentral ng Pilipinas “and therefore we just need about five more for next year.”
Buenaventura said RCBC was eyeing a 10-percent to 12-percent income growth next year. In the first nine months of 2017, RCBC’s net income reached P3.4 billion