Rizal Commercial Banking Corporation (RCBC) was established in 1960 as a development bank and became a universal bank in 1989. A member of the Yuchengco Group of Companies and listed in the Philippine Stock Exchange. As of 1Q2021, it ranks as the sixth largest bank in the Philippines with USD16.8Billion in total assets. ESG rating was upgraded to “AA” by MSCI, indicating sound business organization and risk mitigation. 

RCBC aligns its business strategy to support the development needs of society, as articulated in the UN SDGs and the Paris Agreement. The Bank promotes awareness of environmental and social issues within the organization, with its clients and the communities they serve. RCBC believes that good sustainable practices are a key pillar of responsible lending which can have a meaningful impact on the environment and communities.

CSR activities are in collaboration with the Alfonso Yuchengco Foundation whose mission is to uplift Filipinos through rehabilitating calamity-stricken areas, supporting sustainable livelihoods and granting educational scholarships.

Under its Sustainable Finance Framework, the Eligible Sustainable Portfolio accounted for 10% of total loan portfolio as of end-December 2020, higher than the 8% share of coal exposures.  The portfolio contributes to 10 out of the 17 UN SDGs.  

In 2009, the Bank ventured into the microfinance business through Rizal MicroBank (RMB, the thrift bank subsidiary). In June 2020, RMB piloted a program “Bangko ng Bayan” which enabled more than 350 new Filipinos to have access to the formal banking industry. Partnered with 45 community-based entrepreneurs whose businesses catered to the underserved and small businesses reaching far-flung provinces. More than Php1.7M worth of transactions were processed within five months from the pilot run.

Cash flow support was provided to SMEs through loan grants for essential businesses, payment moratoriums, reduced interest rates, risk assessment packages under the Bank’s COVID-19 Assistance and Recovery Enhancement (CARE) Program appropriate to the needs of affected businesses. In 1Q2021, the SME Group portfolio grew by 11% to Php81B from Php73B in 2019.