RCBC projects SME loan portfolio growing in ’22
yUCHENGCO-LED Rizal Commercial Banking Corp. (RCBC) said last Tuesday it is projecting an increase in its small and medium enterprises loan portfolio this year, on the back of global economic recovery and the stable outlook for the Philippine banking sector.
The bank projects its SME loan portfolio will expand by at least nine percent in this year, to P101.5 billion or from P93.4 billion last year. The bank was recently recognized as the Best SME Bank by Global Banking and Finance for its credit products and programs designed for SMES.
RCBC’S shares closed Tuesday at P20.20 apiece, unchanged from the previous close.
RCBC head of the SME Banking Group Maria angela V. Tinio is optimistic that the accommodative monetary policy settings of the Bangko Sentral ng Pilipinas (BSP) will help safeguard the momentum of economic recovery, while it proceeds in creating its exit strategy from its current liquidity stance.
“Moving on from a more cautious position during the previous year, and as the economy is now reopening up, businesses are resuming and consumer spending is picking up, lending is seen to accelerate and boost revenues,” Tinio said.
In 2021, the RCBC SME Banking Group set a record-high in onboarding of new accounts, with a 233-percent year-on-year growth in new SME accounts.
The bank’s current account/savings accounts (Casa) deposit contribution is envisioned to grow by 17 percent, with more clients seen embracing the digital realm.
Tinio said initiatives for crossselling and product bundling are likely to build more traction in 2022, with the bank having more to offer in terms of products and services, business solutions, and cash management solutions that provide convenience of digital banking to clients.
“We foresee further intensification of the deposit business this year, with the growing roster of bundled products that combine digital cash management solutions suitable to the needs of SME customers, including the bank’s latest payment solutions Payportal and Checkscan, as well as the impending launch of the newest payment channel Quicker Pay,” she said.
all lending relationships and credits are vetted from an environmental and social risk perspective under our “environmental and social management system,” the bank said.