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 The logo of RCBC since 2017 | |
 RCBC Plaza, current headquarters of Rizal Commercial Banking Corporation inMakati. | |
| Company type | Public |
|---|---|
| PSE: RCB | |
| Industry | Financial Services |
| Founded | Makati,Rizal, Philippines (September 23, 1960; 65 years ago (1960-09-23)) |
| Headquarters | Makati, Philippines |
Key people |
|
| Services | Banking |
| ₱9.8 billion (2024) | |
| Total assets | ₱1.36 trillion(2024) |
| Owners | Yuchengco Group of Companies Cathay Financial Holdings International Finance Corporation SMBC |
| Parent | Yuchengco Group of Companies |
| Website | www.rcbc.com |
TheRizal Commercial Banking Corporation (PSE: RCB),commonly known asRCBC is one of the largest universal banks in thePhilippines with total consolidated resources ofPh₱ 1.2 trillion. It was established in 1960[3] as a development bank and is licensed by theBangko Sentral ng Pilipinas (BSP) for both commercial and investment banking. It is currently headquartered atRCBC Plaza inMakati,Metro Manila.
RCBC is majority-owned by the Yuchengco Group of Companies (YGC), one of the oldest and largest conglomerates inSoutheast Asia covering over 60 businesses which include the non-life insurance company, Malayan Insurance, a life insurance company joint venture withSun Life Financial Philippines, SunLifeGREPA Financial, Inc.; the construction company EEI Corp.; educational institutions; and vehicle dealerships. Other significant investors of the bank include theWorld Bank'sInternational Finance Corporation,[4][5]Cathay Life Insurance Co., Ltd.,[6][7] a wholly owned subsidiary ofCathay Financial Holding, Ltd., and Sumitomo Mitsui Banking Corporation (SMBC). RCBC issues first US dollar sustainability bonds.[8][9] RCBC issues VISA, Mastercard, JCB, and UnionPay[10] credit cards throughRCBC Bankard.[11]
The bank was established byAlfonso Yuchengco on September 23, 1960, asRizal Development Bank, a small development bank based inMakati, which was then part ofRizal province. It initially operated with 15 employees at a one-room office alongAyala Avenue.[12][13] It was later upgraded to a commercial bank upon the approval of theBangko Sentral ng Pilipinas and, in 1963, began operation as such under its present nameRizal Commercial Banking Corporation (RCBC). RCBC established its first head office at 219Buendia Avenue, also in Makati, making it the first commercial bank to do so in the province.[14] In 1989, it acquired its universal banking license.[15]
In 2000, RCBC acquired major control ofBankard Inc., a credit card company from divestment ofEquitable PCI Bank[16] In 2006, the acquisition of almost all assets of Bankard was approved.[17]
In 2007, RCBC acquired the thrift bank Merchants Savings and Loan Association Inc. from Finman Capital Corp. and consolidated it with its own thrift bank RCBC Savings Bank with the aim for increasing its branch network.[18] In 2009, RCBC acquired J.P. Laurel Rural Bank inBatangas to expand microfinance operations toLuzon.[19][20] On October 28, 2013, RCBC's microfinance subsidiary, Rizal Microbank opened the very first banking office made of recycled shipping container vans in the Philippines.[21][22] On 2012, RCBC acquired First Malayan Leasing and Finance Corporation and its subsidiary Malayan Rental to enter equipment leasing business.[23][24]
In 2019, RCBC raised ₱ 15 billion in Peso Bond, the Philippines’ first green finance framework under the ASEAN Green Bond Standards.[25][26][27] In June 2019, the Bangko Sentral ng Pilipinas (BSP) approved RCBC's merger with its thrift bank RCBC Savings Bank.[28][29][30]
In early 2020, RCBC's board approved a new digital banking platform through the creation of its wholly owned rural bank.[31][32][33] In July 2020, RCBC launched its digital bank DiskarTech offering an interest rate of 3.25% per annum with no minimum deposit and maintaining balance.[34][35][36][37] After the Bangko Sentral ng Pilipinas (BSP) released the guidelines fordigital banks in December 2020,[38] RCBC's executives said that they have not yet finalized a decision if they will apply for a separate digital bank license.[39][40]
CEOEugene Acevedo launched RCBC Boz mobile application, the ATM Go as part of RCBC’s Barangayan Banking, digital banking platform and RCBC Pulz, among others.[41][42]
On 24 November 2024, it was reported that RCBC has been chosen of one of the preferred financing partners ofTesla in the Philippines, offering a fully digital loan application experience to customers with approval within a single day.[43]
Effective July 1, 2025, Reginaldo B. Cariaso assumed the position of President and CEO.
On May 16, 2008, a robbery-massacre occurred at the RCBC Laguna Industrial Science Park branch in Pulo,Cabuyao,Laguna. Nine people – a security guard and eight other bank employees – were shot and later declared dead at the crime scene, while a tenth person was found seriously wounded and was rushed to a hospital, before dying a few days later. The victims were concluded to have been lined up and shot dead by the perpetrators.[44][45]
In 2016, some funds from theBangladesh Bank robbery incident were diverted to fictitious accounts at the Jupiter Street branch of RCBC.[46] Some executives were charged with anti-money laundering.[47] In the February 29, 2024judgment on the Bangladesh Bank robbery, theNew York Supreme Court dismissed 3 causes of action—conversion, aiding and abetting conversion, and conspiracy to commit conversion—against RCBC and defendants Ismael Reyes, Brigitte Capiña, Romualdo Agarrado and Nestor Pineda for lack of personal jurisdiction. It however allowed the Bangladesh Bank case concerning the $81-million cyberheist to proceed on other grounds including the return of money received.[48]
Media related toRizal Commercial Banking Corporation at Wikimedia Commons| Universal banks | |
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| Commercial banks | |
| Thrift banks | |
| Digital banks | |
| Other banks | |
| Defunct |
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