RCBC inks partnership with Producers Bank

The Rizal Commercial Banking Corp. (RCBC) has recently opened a new channel for business expansion and growth by forging a partnership with Producers Bank, a thrift and development bank.

The partnership reflects a new facility by the commercial bank for rural and thrift banks as well as government agencies as a means to link up with and join the ATM network through RCBC. RCBC is a member of the Bancnet ATM consortium.

“Today marks an important milestone in our efforts to corner a bigger share in our respective business interests: more depositors and greater earnings for RCBC; an even greater cardholder base for BancNet; and more banking convenience offerings for Producers Bank and its customers,” RCBC president and chief executive officer Lorenzo Tan said in a statement.

He further also emphasized that going into electronic banking is really the way to go in expanding the banking industry’s customer base.

“India’s ICICI Bank, with merely 400,000 clients, invested big money in ATMs and successfully grew its customer base to 24 million as of July of this year. We should really create an environment wherein people do most of their banking transactions through electronic channels, particularly the ATM,” the RCBC chief executive said.

Bancnet chairman Angelito Villanueva lauded RCBC for taking the lead in the project, which will effectively translate to a bigger membership for the consortium he leads.

“RCBC is leading a coup in terms of bringing in new members to Bancnet,” Villanueva noted.

RCBC is the country’s fourth largest capitalized private universal bank with more than 297 branches and five extension offices nationwide. It is a major player in the remittance business with presence overseas through remittance subsidiaries and tie-ups in North America, Europe and Hongkong.

 It is a member of the multi-industry conglomerate Yuchengco Group of Companies.  — TPT