RCBC doubles Billease credit line to P1 billion

MANILA, Philippines —   Rizal Commercial Banking Corp. (RCBC) has doubled its credit line to Billease to P1 billion, expanding local bank funding for the consumer lender as it grows its business and reduces reliance on offshore borrowing.

Billease said the expanded financing available from the bank comes a year after RCBC lent an initial P500 million. Their partnership now also covers corporate cash management, deposit accounts and foreign exchange services.

The company offers consumer loans and buy-now-pay-later services, allowing customers to purchase goods and pay in installments.

“Doubling our facility with RCBC within a year and broadening it well beyond lending into cash management and forex reflects the kind of confidence that only comes from a track record both sides can underwrite,” Billease chief financial officer Garret Go said.

Billease said the funding supports its strategy of borrowing more from local banks to reduce its historical dependence on offshore debt and lower its overall financing costs.

The arrangement uses the Personal Property Security Registry (PPSR), a centralized registry for lenders’ claims over movable assets used as collateral, including loan receivables.

According to Billease, the registered security gives RCBC a first-ranking claim over the pledged loans, putting the bank first in line to recover from those assets.

The collateral pool exceeds the amount of financing it secures, providing an additional buffer for the bank. The arrangement also includes periodic updates to the loans pledged as collateral and a defined order for allocating payments.

“This expanded partnership reflects RCBC’s confidence in Billease’s performance and in the quality of its underwriting,” RCBC institutional banking group head Elizabeth Coronel said.

“By anchoring the facility in a registered, over-collateralized security through the PPSR, we have built a transparent, well-protected structure that we believe can serve as a model for how Philippine banks support responsible, fast-growing fintech lenders.”

The increased funding follows Billease’s third consecutive profitable year. Citing audited consolidated results, the company said revenue grew by more than 80 percent to P8.7 billion in 2025, while net profit reached P750 million.

Its loan portfolio expanded by more than 75 percent to approximately P11.3 billion, while total assets reached P13.3 billion.