Published May 20, 2021, 2:56 AM
RCBC
Businesses can soon process their check deposit transactions more conveniently in the comfort of their homes or offices using their mobile devices with a new service from the Rizal Commercial Banking Corporation (RCBC).
Mobile CheckScan is an additional feature of the previously launched RCBC CheckScan. Introduced by RCBC in October 2020, RCBC CheckScan is a first-in-market cash management solution that enables corporate clients to process bulk checks safely and efficiently through digitalization.
“This innovation is the best solution for businesses receiving part of their sales proceeds via check. It allows them to manage their collections in a very efficient manner despite the limited mobility and physical contact demanded by the current situation,” RCBC Senior Vice President Eric Buenaflor said. “It’s also very easy to install and use.”
Published May 14, 2021, 3:51 PM
Rizal Commercial Banking Corporation reported a 30 percent drop in unaudited consolidated net income to P1.6 billion for the first quarter of 2021 from the P2.3 billion earned in the same period last year.
In a disclosure to the Philippine Stock Exchange, the bank said it sustained core business growth and higher earning asset base.
Excluding trading and foreign income, gross income and pre-provision profit increased by 10 percent and 70 percent, respectively.
For the first quarter, net interest income reached P6.5 billion, up by 2 percent year on year as the Bank continued to build the asset portfolio, supported by lower funding costs.
Business Tabloid.
The Yuchengco-led bank is the only Filipino company among the honorees in the Banking Awards.
RCBC joins other winners from Bahrain, Sri Lanka, Kuwait, Egypt, Malaysia, and the United Arab Emirates. The only Philippine counterpart was Deutsche Bank which won in the best CSR category.
“It is all because of the regulators who put their faith into the industry and the customers who trust and support us that all this has become possible. We continue to put the welfare of the Filipino people at the center of our products and services,” said Eugene S. Acevedo, President and Chief Executive Officer of RCBC.
SunStar
DiskarTech app May 12, 2021 ONLINE payments provider PayMongo Philippines Inc. and Rizal Commercial Banking Corporation’s (RCBC) financial superapp DiskarTech have signed a memorandum of agreement (MOA) to improve access to financial services among micro, small and medium enterprises (MSMEs).
Francis Plaza, chief executive officer and co-founder of PayMongo, said this aligns perfectly with PayMongo’s goal of empowering MSMEs to receive all types of payments over the internet.
“At its core, PayMongo shares the same vision as DiskarTech of promoting financial literacy and increasing access to financial tools and services to meet our overall vision of financial inclusion. We intentionally make our platform really easy to use for our merchants, who are our customers, and to our merchants’ customers as well,” Plaza said.
Published May 10, 2021, 5:30 AM
The domestic automotive industry is projected to recover in the fourth quarter of 2021 and pick up momentum well into 2022, according to investments and banking executives.
House of Investments (HI) Senior Vice-President and Car Business Operations head Johnny Fetalvero said several factors will work in favor of improved auto sales. These include the speed of the Coronavirus 2019 (Covid19) vaccination roll-out, reinvigorated cash remittances, steady lifting of restrictions, and election spending.
In turn, increased economic activities and consumer spending would sustain the momentum the following year.
Fetalvero explained that the auto purchases may have shifted to low gear with the record levels of active virus cases in March this year, and the subsequent reimposition of the expanded community quarantine (ECQ).