RCBC Cash Management, Trade Finance recognized

The Rizal Commercial Banking Corp. (RCBC) has bagged three more major accolades from two prestigious award-giving organizations for excellence in transaction banking.

The bank once again received two recognitions for Best Cash Management of the Year from The Asian Banker and Asian Banking and Finance (ABF) respectively, in addition to garnering the award for Domestic Trade Finance Bank of the Year, also from ABF.

RCBC’s executive vice president and Global Transaction Banking Group head Emmanuel Narciso said that the bank is both honored and humbled to receive these recognitions, which is a testament to the bank’s efforts to deliver the best customer experience in the digital age.

The bank’s revenues from trade finance grew by 16 percent year-on-year, supported by a 44 percent increase in overall transaction volumes and a 10 percent increase in its client base. RCBC’s trade finance portfolio consists of large to middle corporate and SME clients.

On the other hand, its cash management business booked a 32 percent year-on-year growth in total deposit portfolio at end 2021 and a 36 percent growth in low-cost Philippine peso deposits originating from the acquisition of corporate clients’ operating funds.

On the transaction side, the unprecedentedly swift migration of RCBC’s corporate clients to digital payments continues, with a robust 73 percent growth in electronic high value payments via PesoNet, and an astounding 175 percent growth in electronic low value payments via Instapay.

Narciso said the key drivers of this success include ongoing process improvement and product innovation in its cash management and trade divisions.

RCBC’s Global Transaction Banking business has been a consistent recipient of local and international recognition from various reputable and prestigious award giving bodies for its successful digital pivot and transaction services.

Earlier in 2022, the bank’s cash management and trade finance segments also bagged top awards from the Global Banking and Finance Review and Asiamoney, respectively.

RCBC is one of the leading universal banks in the Philippines in terms of assets, with a network of over 434 branches and 2,834 ATMs and ATM Go units at end 2021.

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