About Rizal Commercial Banking
Rizal Commercial Banking Corporation engages in the provision of banking and financial products and services in the Philippines and internationally. The company provides products and services related to traditional loans and deposits, trade finance, domestic and foreign fund transfers or remittance, cash management, treasury, and trust and custodianship services. Under relevant authority granted by the Bangko Sentral ng Pilipinas (BSP), the company is also licensed to deal in different types of derivative products such as, but not limited, to foreign currency forwards, interest rate swaps and cross currency swaps. The company engages in all aspects of traditional banking, investment banking, retail financing (credit cards, auto loans, mortgage/housing and microfinance loans), remittance, leasing and stock brokering. The company offers demand deposit and secured settlement accounts; term deposit; and overnight deposit. As a banking institution, the company's operations are regulated and supervised by the BSP. As such, the company is required to comply with banking rules and regulations such as those relating to maintenance of reserve requirements on deposit liabilities and deposit substitutes and those relating to the adoption and use of safe and sound banking practices, among others, as promulgated by the BSP. The company's activities are subject to the provisions of Republic Act (RA) No. 8791, the General Banking Law of 2000, and other related banking laws. Segments The company operates through Corporate, Retail, Small and Medium Enterprises, Treasury, and Others segments. Corporate This segment principally handles distinct customer segments: conglomerates; large corporations; emerging corporates, which focus on large middle accounts often referred to as the Next 500 Corporations; Japanese multinationals with a strong presence in the country; Filipino-Chinese businesses; and, Korean businesses. This segment includes portfolio of RCBC LFC. Retail This segment principally handles the BCs offering a wide range of consumer banking products and services. Products offered include individual customer's deposits, credit cards, home and mortgage loans, auto, personal and microfinance loans, overdraft facilities, payment remittances and foreign exchange transactions. It also upsells bank products [unit investment trust funds (UITFs), etc.] and cross-sells bancassurance products. The segment includes the net assets of the servicing entity, RBSC, and portfolios of Rizal Microbank. Small and Medium Enterprises (SME) This segment principally handles the financial needs of the country's small businesses or the SMEs and the Commercial Middle Market segments. The SME Banking Group provides a holistic approach serving both the financial (e.g., loans, deposits, investments, insurance, etc.) and non-financial needs (e.g., networking, financial literacy trainings, etc.) of client to help them grow their business. Clients are the entrepreneurs located in different parts of the country and spread in various industry sectors such as manufacturing, wholesale and retail trade, construction, hotels, agriculture, and healthcare, among others. Treasury This segment principally provides money market, trading and treasury services, as well as the management of the Group's funding operations by use of treasury bills, government securities and placements and acceptances with other banks, through treasury and wholesale banking. Others This segment consists of other subsidiaries except for RBSC and Rizal Microbank, which is presented as part of Retail, and RCBC LFC which is presented under Corporate. History The company was incorporated in 1960. The company was formerly known as Rizal Development Bank and changed its name to Rizal Commercial Banking Corporation in January 1963.
