Pass-through govt cash aid boosts RCBC mobile ATM disbursement in Q1

RIZAL Commercial Banking Corp. (RCBC) said its mobile automated teller machine (ATM) service disbursed more than P1 billion in the first quarter, showing a 170-percent growth from the same period a year ago.

In a statement on Tuesday, the Yuchengco-led bank said its mobile ATM registered more transactions for the period due to conditional cash transfer payouts for government beneficiaries under the “Pantawid Pamilyang Pilipino” program and distribution of social amelioration emergency cash subsidy.

Nearly 400,000 household-beneficiaries were given service by the said digital facility. Going by RCBC’S figures, the average withdrawal per household-beneficiary would have been P834 a month.

ATM Go allows Bancnet cardholders to make basic banking transactions like withdrawals, inquiry and fund transfers through any partner rural bank, drug stores, microfinance firms and even sari-sari stores.

“We believe that in crises such as this, the Filipinos’ resiliency to challenges will once again be tested,” said RCBC Executive Vice President Angelito M. Villanueva. “Everyone is united to bring about the best in each of us, including delivering the digital banking service each one deserves through collaboration.”

The payouts of the cash assistance are being simultaneously held in over 70 provinces via over 1,250 mobile ATM Terminals, RCBC said.

Among these are Masbate, Palawan, Tacloban, Marinduque, Bulacan, Isabela, Tarlac, Pampanga, Laguna, Leyte, Northern Samar. Sultan Kudarat, zamboanga del Norte, Sorsogon, Bukidnon, Camarines Sur, Lanao del Norte, Negros Occidental, Bataan, South Cotabato, Davao Oriental, Cebu, Agusan del Norte, North Cotabato, Lanao del Sur and zamboanga Sibugay.

Meanwhile, additional 2,000 point-of-sale devices will be used by members of the Rural Bank Association of the Philippines and National Confederation of Cooperatives, Bayad Center and a confederation of cooperatives in Mindanao in relation to the government’s P200-billion social amelioration program.

RCBC, last week, listed its P7.05billion fixed rate bonds on the Philippine Dealing and Exchange Corp. Each bond has a tenor of two years and carries a coupon rate of 4.848 percent per annum.

The listed bank said proceeds of the offering are allocated to finance asset growth, maturing obligations and other general corporate matters.

RCBC shares rose 20 centavos or 1.16 percent to finish at P17.50 apiece amid the 3.03-percent spike for the main index.