Rizal Commercial Banking Corp. (RCBC) plans to offer fixed-rate peso-denominated bonds under its P200-billion commercial paper program.
The bank did not disclose terms of the offer including amount it plans to raise, offer period and tenor of the bonds.
It said it would use the fresh capital from the bond offer to support asset growth, refinance maturing liabilities and for other general funding purposes.
The funds may also be used to finance or refinance sustainable projects under the bank’s Sustainable Finance Framework.
Under its P200-billion commercial and bond program, the bank may offer, issue and sell the remaining unissued bonds from time to time. The form, amount, tenor and interest rate of the bonds will be decided by the bank.
“Terms and timetable regarding each issuance or each tranche shall be disclosed at the appropriate time and subject to final management determination, market, and other conditions,” the bank said.
Since 2019, RCBC has raised a total of P86.8 billion under the bond program. Its last offering was completed in February 2022 amounting to P14.8 billion.
The bank in January also raised $350 million from the issuance of five-year senior unsecured fixed rate sustainability notes. It was part of the bank’s $4-billion medium term note program.
RCBC reported a net income of P2.43 billion in the first quarter of 2025, a 10 percent increase year-on-year, boosted by strong core business performance and consumer loan growth.
Gross revenues reached P14.7 billion, up 20 percent from the previous year.
Consumer loans grew 39 percent, driven by a 44-percent rise in credit card receivables. Housing and auto loans increased by 24 percent and 45 percent, respectively.
Service fee income rose by 26 percent due to higher credit card usage and loan transaction volumes.
The bank’s total deposits reached P972 billion, with a current account/savings account ratio of 50 percent.
