Rizal Commercial Banking Corp.'s income grew 35 percent year-on-year in the first semester to P3.01 billion or US$71.95 milllion.
For the January-June period, the bank’s total operating income grew 15.52 percent to P10.76 billion.
Net interest income amounted to P5.49 billion while non-interest income grew 33.65 percent, boosted by treasury gains mostly.
Capital-wise, RCBC funds grew 11.42 percent to P41.22 billion and maintaining a strong capital adequacy ratio of 17.11 percent.
Total consolidated resources in the meantime reached P351.45 billion as of end-June, up by 17 percent.
Net loans grew by 16.5 percent to P189.76 billion with corporate loans up 24 percent, small and medium enterprises loans by 39 percent and consumer loans increased 28 percent.
The bank said its loans-to-deposit ratio is at 77.10 percent and that “despite competitive pressures, annualized net interest margin remained high at 3.80 percent,” the bank said. As for its non-performing loans ratio, this was lower at 1.53 percent from 2.36 percent the same period in 2011, with loan loss provisioning at P958 million.
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