Rizal Commercial Banking Corp. (RCBC) said Monday it closed the first half of 2024 with an unaudited consolidated net income of P4.5 billion.
The bank reported a 12-percent increase in earning assets, 29-percent jump in net interest income and a 33-percent rise in fees.
Core business revenue in the first semester surged 29 percent, led by a 38-percent increase in consumer loans, lifting the net interest margin by 41 basis points to 3.71 percent.
RCBC said its credit card portfolio led the growth with a 53-percent jump, with credit card billing increasing 42 percent, or double the industry growth rate.
The auto and housing loan portfolio of RCBC also marked a 28-percent year-on-year expansion.
RCBC said that as of the first half of 2024, its personal and salary loan portfolio tripled, with loans generated digitally reaching P2.0 billion.
Consumer loans represented 36 percent of the bank’s total consumer loans, while the remaining 63 percent consisted of corporate and SME portfolio.
