The Rizal Commercial Banking Corp. (RCBC) has recorded an outstanding growth in its loans and deposits in the small and medium enterprise (SME) segment in 2022, driven by the bank’s innovative digital initiatives and effective offline strategies.
RCBC SME Banking Group grew its loans by 15 percent to P86.95 billion from P75.52 billion during the same period in 2021, while its current account savings account (CASA) grew by nine percent to P69 billion from P63.3 billion by end of December.
“Overall, SME’s total deposits increased by 21 percent to P106.8 billion from P88.1 billion,” said Anna Christina Vicente, RCBC SME Group head.
Vicente attributed the growth to the team’s continuous digitization efforts and offline strategies which involved focusing on high-growth provincial areas for lead generation, particularly targeting industry leaders in these respective areas.
The bank said this approach proved to be successful in generating new loans for the bank.
One key region that contributed significantly to RCBC’s SME loan portfolio was the Visayas region, which accounted for about a third of the total loan portfolio.
The current share of SMEs in the total portfolio mix of RCBC is around 20 percent to total loans, higher than previous year’s 18 percent.
As of December 2022, RCBC is servicing over 13,620 SME customers. RCBC SME Banking Group also has 18 lending centers and 16 satellite offices situated in strategic locations throughout the country.
