RCBC bags Best Banking Group award from World Finance Mag

MANILA, Philippines - Yuchengco-led Rizal Commercial Banking Corp. (RCBC) said it was named as the Best Banking Group in the Philippines for the second time by World Finance Magazine during its annual Banking Awards.

RCBC said this recognition affirms the bank’s stature as one of the country’s largest and most profitable private universal banks.

The Best Banking Group award given by World Finance, a leading international financial magazine, commends banking institutions that have consistently improved their financial performance and developed innovative products and services to address the needs of their customers while implementing sound corporate governance.

“Our promise to our customers still remains – to further enhance the way they perform their banking transactions by creating smarter technologies – and this is reflected in all the accolades that we have been receiving for the past year,” RCBC president and CEO Lorenzo V. Tan said.

In line with its vision to be the leading innovator of integrated financial services in the country, RCBC has since strengthened its electronic banking channels, particularly for its retail banking and small to medium enterprise (SME) sectors.

These areas, the bank said, will create new growth opportunities for its consumer market and catering to the unbanked segment of the Philippine population.

Other RCBC divisions such as wealth management, SME and its microfinance arm, Rizal Microbank, have also been recognized by international organizations for their outstanding performance and excellent customer service, among others.

In the corporate governance sphere, RCBC was also cited by Corporate Governance Asia for upholding sound business principles and effective policies that comply with the regulations set by the Bangko Sentral ng Pilipinas and Securities and Exchange Commission.