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RCBC Rizal Commercial Banking Corporation : Product Offerings

RCBC
Rizal Commercial Banking Corporation


The Rizal Commercial Banking Corporation (RCBC) (Chinese: 中華銀行; Pe̍h-ōe-jīTiong-hôa gîn-hâng) was established in 1960 as a development bank and is licensed by the Bangko Sentral ng Pilipinas (BSP) for both commercial and investment banking. It is one of the largest universal banks in the Philippines with total consolidated resources of Php 645 billion [5][6] as of end-2018.

RCBC is majority-owned by the Yuchengco Group of Companies (YGC), one of the oldest and largest conglomerates in Southeast Asia covering over 60 businesses which include the leading non-life insurance company, Malayan Insurance, a life insurance company joint venture with Sun Life Financial Philippines, SunLifeGREPA Financial, Inc. ; the leading globally-oriented construction company EEI Corp.; top educational institutions; and vehicle dealerships. Other significant investors of the bank include the World Bank's International Finance Corporation and Cathay Life Insurance Co., Ltd., a wholly owned subsidiary of Cathay Financial Holding., Ltd., the largest publicly-listed holding company in Taiwan.

Early years

RCBC opened for business as a small development bank in 1960, then went through rapid expansion to become the preferred banker to a wide range of markets: the Filipino-Chinese market, the corporate market, locators in the export processing zones, the middle market, and the consumer/ retail market.

In 1964, RCBC marked a significant presence in the Filipino-Chinese business community with the opening of its first branch in Binondo. In 1967, this foothold was strengthened when Ambassador Alfonso T. Yuchengco, founder of the Yuchengco Group of Companies (YGC), assumed the Chairmanship of the board. Because of his strong ties with the Filipino-Chinese business community and the Bank's record in serving this market, the Filipino-Chinese market has remained to be one of the Bank's major market niches.

The 1970s

In 1973, Chairman Yuchengco deemed it crucial to invite two international banks to raise the level of banking expertise of RCBC in trade financing, international banking, credit control, and systems and procedure to global standards. These were the Continental Illinois National Bank and Trust Co. of Chicago, USA (CONNILL) and The United Financial of Japan. The tie-up with these banks reinforced the role of RCBC among corporate clients who preferred institutions with international banking expertise. Further, the affiliation with The United Financial of Japan opened another market for RCBC: the Japanese market. Together, the corporate, the Filipino-Chinese and Japanese markets account for a substantial share of the Bank's portfolio.

The 1980s

The period marked the rapid branch expansion for the Bank. While most of its peers were establishing branches within Metro Manila, RCBC pursued branch expansion in key growth areas like the export processing zones. This enabled the bank to tap and forge long-term relationships with the foreign locators especially those in the semiconductor industry.

Anticipating bigger things to come, RCBC successfully listed its shares in the Philippine Stock Exchange in 1986. The following year, RCBC diversified into the retail market with the introduction of private banking, home mortgage, car financing and the RCBC Credit Card.

The 1990s

The establishment of the RCBC's thrift bank arm - the RCBC Savings Bank in 1996 was an indication of RCBC's strategic thrust of becoming a major player in the retail market. This has been supported by the acquisition of a large thrift bank - the Capitol Development Bank in 1998 and the acquisition of 67% stake in Bankard, a major player in the credit card business in mid-2000.

The expanded branch network of 287 branches and 5 extension offices, the opening of foreign offices in Hong Kong (RCBC International Finance, Ltd.) in 1979, in the US (RCBC California International, Ltd.) in 1993 and in Italy (RCBC Telemoney Europe) in 1995 and affiliations with offshore banks and money transfer agencies, stabilized the position of RCBC in the remittance business. The Bank now accounts for more than 10% of the remittance business.

On top of a banking business, the bank has equity holdings in companies engaged in power generation, automotive assembly, thrift banking, food manufacturing, etc. RCBC entered into a joint venture agreement with Honda Cars and Mitsubishi Corp. of Japan and the Ayala Group to produce the well-engineered and popular Honda cars for the Philippine market. Together with another Yuchengco Group flagship, the House of Investments, and the Enron Corp., it put up the Subic Power Corp. (SPC), a diesel-fired 116-megawatt power plant built under the Build-Operate-Transfer scheme.

To strengthen its position in the capital market, the bank fully acquired the Philippine Pacific Capital Corp. from its partners and renamed it RCBC Capital Corp. It entered into a joint venture agreement with Isuzu Corp., Mitsubishi Corp. and the Ayala Corp. to form Isuzu Motors Phils. Co., Ltd., which is into the assembly, manufacturing, importation and distribution of AUVs, pick-ups and medium- and big-sized trucks and buses. It has equity participation in Pilipinas Shell Petroleum Corp. In November 1996, RCBC joined Agila Holdings, Itochu and Hacienda Luisita in putting up the Luisita Industrial Park Corp., a 300-hectare industrial park for Japanese investors. Together with Great Pacific Life Assurance Corp., it forged a tie-up (1997) with Japan's largest life insurance company, the Nippon Life Insurance Corp., forming a new joint venture life insurance company - the Nippon Life Insurance Company of the Philippines. Other equity investments of RCBC are in LGU Guarantee Corp, a joint BAP/DBP guarantee institution to cover 85% of local government's unit debts; in Lima Land, Inc., a real estate company involved in the development of a 440 hectare industrial park in Lipa/ Malvar; in KG Investments Holdings, Ltd. with the Koo family and in RCBC Land, Inc., a joint venture between RCBC and Pan Malayan Management and Investments Corporation. The company's maiden project is the RCBC Plaza, the new home of RCBC. The project is a joint venture with the Government (of Singapore) Investment Corporation.

Present

Understanding the value of convenience and accessibility, the Bank opened 27 new branches in key cities in Metro Manila for a total of 508 branches spread out all over the country. The Bank’s extensive distribution network was supported by 1,562 ATMs and 75 lending centers in key select areas. Beyond the brick-and-mortar points of contact, the RCBC internet banking platforms—RCBC Online Retail (ROR) and RCBC Online Corporate (ROC)—extended bank services with just a click, elevating the customer experience to another level.

Recognizing the power of social media as an access point, the Bank takes to Twitter (@askRCBC and @RCBCSavingsBank) & Facebook(www.facebook.com/RCBCGroup; www.facebook. com/RCBCBankard) to engage with its customers and stakeholders. The Bank did not settle for having a mere presence on social media, we took it a step further; we wanted to be part of the conversation. Through Facebook Messenger, the bank introduced AskRC—the first banking ChatBot in the Philippines offering location-based searches and helpful assistance. It was not just about keeping the customers informed, but a chance to dialogue and educate our customers on banking and financial products and services. We believe it is an important part of building strong relationships; keeping the lines of communication open.

The Bank participated in another milestone transaction, a long-term partnership for nation building and community development. We are proud to have been part of the project finance deal of Star Energy Geothermal Salak – Darajat B.V. project. It was a significant transaction for the local market and was recognized by the Alpha Southeast Asia Deals and Solutions as the “Best Leveraged Finance-Backed M&A Deal in Southeast Asia” and “Best Deal in Southeast Asia 2017”. The project was also awarded by the International Financing Review Asia Awards 2017 as “Best Capital Market Deal” and by The Asset Triple A Asia Awards 2018 as “Best Mergers and Acquisition Financing Deal”.

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Comments

  • IronHandofJusticeIronHandofJustice Member PEx Guru 🎖️🎖️
    edited July 2019
    Who is RCBC Savings Bank (RSB)?
    • a wholly-owned subsidiary of RCBC
    • a member of Yuchengco Group of Companies (YGC)
    • 3rd largest savings bank with 154 branches, 39 lending centers and 452 ATMs nationwide
    • with complete suite of products ranging from deposits, investments, loans and life and non-life products

    Deposit Products Overview



    +++
    Para sa kaalaman ng lahat, mayroon din tayong mga paksa hinggil sa YGC (Yuchengco). Narito:

    KAUGNAYANG MGA SINULID NG TALAKAYAN:
    Sinulid ng Manggagawa: BANKARD, INC. (Sinulid ng Manggagawa)
    Sinulid ng Manggagawa: MALAYAN Insurance (YGC)
    Sinulid ng Manggagawa: RCBC Rizal Commercial Banking Corporation
    Sinulid ng mga Taga-Deposito: Rizal Commercial Banking Corporation : Deposits
    Sinulid ng mga Taga-Deposito: RSB RCBC Savings Bank : Deposits
    Sinulid ng Programang Katapatan: RCBC & RSB Hexagon Club | PRESTIGE
    Sinulid ng Credit Cards:
       I: Bankard, Inc.
       II: Bankard (Sinulid 2)
       III: Bankard (Sinulid 3)
       IV: Bankard (Sinulid 4)
  • IronHandofJusticeIronHandofJustice Member PEx Guru 🎖️🎖️
    edited July 2018
    Hexagon Club is an exclusive club for RSB's most valued clients, where members get to enjoy premium banking service and special perks.

    1. PRIVILEGE - For Individuals
    2. PRESTIGE - For SMEs & Corporations

    How can I be a member? Simply open a Dragon All-In-One Checking Account and maintain the required deposits of PHP 100,000.

    What are the benefits as Hexagon Club Privilege Member?
    - Free Initial Checkbook
    - Waived Card Purchase Fee
    - Add-on Rate of 0.15% on Peso TD
    - Free Market Updates
    - Preferential loan rates




  • IronHandofJusticeIronHandofJustice Member PEx Guru 🎖️🎖️
    edited July 2018
    One of the most interesting features of RCBC online banking is the presence of two different passwords, these are your login password and transaction password.

    Login password as the word entails is the password you use if you want to access your account from the login page, while Transaction password is for everything else, like fund transfer, bills payment, mobile reload and etc.

    Take note that you can still access your account even though your transaction password gets locked both in app and web, but it will only be viewing for web. You need to contact the hotline for a reset or send an email to customer service. Between the two, I would recommend for you to call the hotline as it is faster and wouldn't require too stringent security questions.

    In the mobile app, as long as you pass the OTP verification and regardless if your transaction password is working or not, you will be able to proceed with all transaction requests since the app won't require you to enter the latter. That's why it is important to secure the OTP code all the time.

    You can also lock your ATM cards here just like with BDO.

    I will add more details in another day. Feel free to add your impressions, experiences and questions about this bank and its products!

     :) 
  • pokemonaddictpokemonaddict PEx Influencer ⭐⭐⭐
    edited July 2018
    Gagawa ka din ba ng thread for RCBC Commercial? :D 
    Mukhang ok mag bank sa RCBC kasi nung one time na nagdeposit ako sa branch, walang tao kundi ako lang ahaha. As in walang pila. Tapos isa lang teller. Kaya lang napiss off ako kasi nung kausap ko ang teller at BM dahil hindi ko maverify ang account number ng account holder (card number lang kasi binigay sa akin), at naka offline sa messenger ung account holder, I was about to give him a call (kasi I told the teller and BM na yun lang yung banking day na makakadaan ako at nagmamadali ako kasi may hinahabol din akong ibang lakad) bigla ba naman ako sigawan ng guard na kung tatawag daw ako ay lumabas daw ako. I was pissed off. Importante naman yun. Simpre hindi ako lumabas, ang hassle. Nasa loob na ako. Hindi ko na lang tinawagan si account holder.

    I understand that certain banks and certain branches ay bawal sakanila ang phone sa loob. Like sa PNB nuon na may branch pa sila dati sa Burgundy Tower, mahigpit na pinagbabawal magphone kahit magtext or mag laro pero ang ginagawa ng mga guard lalapitan ka lang para sabihan na bawal mag cellphone. Pero sa PNB Dian branch nakapag cellphone naman ako, hindi ako sinita. Pati sa PNB Davao. Ewan ko kung nagbago ba policy ni PNB ngayon.

    Actually hindi talaga ako nagcecellphone sa loob ng bank. Except sa BPI (since ang tagal ng pila at mukhang wala naman paki mga guard at staff kung may nagcecellphone kaya nagcecellphone ako pampalipas oras na lang) at sa PSBank Head Office (minsan kasi matagal at may nakita akong teller na nagcecellphone -- she was on her break kaya I assumed pwede magcellphone sa loob). Sa BDO naman never ako nag cellphone sa loob. Siguro dahil wala pa akong nakikitang nagcecellphone and I just feel I don't need to kasi mabilis naman ang pila.

    Pero kay RCBC hindi talaga ako maka get over dun sa guard na sigawan ba naman ako. Pwede naman ako lapitan ng maayos and I guess it slipped thru my mind, siguro nga kasi nagmamadali ako, nakasanayan ko na lage ako nagcecellphone pag nasa BPI ako at mainit din ang ulo ko sa account holder kasi naka offline at bigyan ba naman ako ng card number (initially I asked for account number kasi alam ko sa deposit slip account number ilalagay ko at hindi card number pero card number naibigay sa akin, it also slipped thru my mind at huli ko na narealize). Kaya ayon never ako papasok sa kahit anong RCBC branch ever. Isa pang turn off ko kay RCBC palage akong declined sa credit card nila. Walang tumatawag. Wala man lang din text or email na declined. Kung hindi ko ippm ung RCBC FB page nila hindi ko pa malalaman na declined pala ako.

    I'm also glad na hindi ako kumuha sakanila ng SCC. 
  • panisnapichipichipanisnapichipichi PEx Rookie ⭐
    edited July 2018
    @pokemonaddict Grabe naman yang pang-aalipustang ginawa ng RCBC sayo. I'm so sorry you had to experience that!! I can't even imagine what kind of pain you had to endure knowing na dinecline ka na nga, sinigawan ka pa. Next time, if hindi maiiwasang kailangan mo pumunta sa RCBC, magdala ka ng baseball bat. Pagpasok mo pa lang, hambalusin mo  na sa ulo yung guard para sure na walang maninigaw sayo in case it would slip your mind that cell phone use in banks is prohibited.
  • IronHandofJusticeIronHandofJustice Member PEx Guru 🎖️🎖️
    @pokemonaddict

    I regret to hear na may ganyan kang experience.

    Personally, may mga unacceptable experiences rin ako sa mga guards in general lalo na iyong mga nasa schools. Nasa DNA qualification ata nila ang pagiging suspicious. Hehehe.  :D

    I've been to several RCBC branches and so far very courteous sila (i.e. guard). Some of them might be a little off dahil narin sa mga security protocols. By default hindi talaga ako nagtetake or nagmemake ng calls kung nasa loob ako ng kahit anong bangko. Pero I am sure na once medyo matagal ka na sa branch at kilala ka na nila, they will not mind you na. 

    About credit cards, conservative talaga sila. I used to have a card with them and it was Gold Visa with 40k CL. Mababa siya compared to BPI and Eastwest na parehong 6 digits. Pero ang maganda sa kanila is that maluwang sila sa AF waiver, the unli zero installment, at tsaka maganda rin ang mga promotions nila (at least compared to Unionbank na maliit rin magbigay ng CL). Also, meron silang web shopper card na counterpart ng ecredit sa BPI.  ;)

    What's unique about their SCC is that 100% ng hold amount ang CL mo and the AF is a little different sa regular cards. In the past nagkaroon din sila ng promos na NAFFL for their SCC products.

    Give it a chance! May queue system na rin sila like other major banks today. I know this bank is heading to the right direction kahit na conservative owners talaga ang mga Yuchengcos.  :)

    As for creating the commercial counterpart, I cannot do that since wala na akong account duon, so I'll leave that to someone else.  =)


  • IronHandofJusticeIronHandofJustice Member PEx Guru 🎖️🎖️
    One of the best savings product for kids is their WISE savings account due to its low opening and maintaning balance requirement, free accident insurance for the kids and the parents, plus it comes with both ATM and passbook.

    I personally have this product with them and I must say with its features, it is a bang for the buck!  ;)



  • IronHandofJusticeIronHandofJustice Member PEx Guru 🎖️🎖️

    Millennials ripe for auto, home loans, says bank boss

    Cathy Yang, ABS-CBN News
    Posted at Jul 04 2018 12:51 PM | Updated as of Jul 04 2018 09:02 pm

    MANILA -- Millennials are a ripe market for consumer loans, ready to purchase their first car or house, RCBC Savings Bank president and CEO Rommel Latinazo said Wednesday.

    The thrift arm of Rizal Commercial Banking Corp is also digitizing its services to cater to customers who make their purchase decisions while in the internet, Latinazo said.

    "Millennials, the upper age range, is ripe or is a good market for our products. These are the people who have been working for 10 years, moved up in their careers," he said in an exclusive interview with ANC's The Boss.

    "They're managers. They started their families, earning much more than when they first started. They now have the capacity to buy cars and homes rather than rent," he said.

    RCBC Savings Bank president and CEO Rommel Latinazo speaks to Cathy Yang for ANC's The Boss

    Financial technology companies are "partners" more than they are disruptors, he said.

    "They're creating opportunity. It makes it more convenient for the buyer," he said.

    The RCBC Savings Bank website will be retooled to allow transactions, rather than just a source of information on its products, he said.

  • piquanteyepiquanteye Member PEx Expert 🎖️
  • piquanteyepiquanteye Member PEx Expert 🎖️
    *RCB: Turning to technology to rehabilitate its image and catch up with rivals. Its target is to grow between 10% and 15% annually in the next five years.
  • piquanteyepiquanteye Member PEx Expert 🎖️
    edited July 2018
    Hexagon Club is an exclusive club for RSB's most valued clients, where members get to enjoy premium banking service and special perks.

    1. PRIVILEGE - For Individuals
    2. PRESTIGE - For SMEs & Corporations

    How can I be a member? Simply open a Dragon All-In-One Checking Account and maintain the required deposits of PHP 100,000.

    What are the benefits as Hexagon Club Privilege Member?
    - Free Initial Checkbook
    - Waived Card Purchase Fee
    - Add-on Rate of 0.15% on Peso TD
    - Free Market Updates
    - Preferential loan rates




    baket walang ganito sa RCBC main?
    Sunlife Grepalife Insurance nito?? maganda!
    ayaw pa ba magcontactless ni RCBC? sabagay para mas safe.
  • piquanteyepiquanteye Member PEx Expert 🎖️

    Sun Life Grepa partners with RSB to address needs of high-net worth clients

    https://www.sunlifegrepa.com/SiteNews.aspx?ID=41

    Financial goals of people vary, and are often related to their financial worth. While the ordinary person requires efficient customer service for their banking needs, affluent clients have priorities that require a tailored service from their bank.

    Sun Life Grepa Financial, Inc. (Sun Life Grepa), one of the top life insurance companies in the Philippines, partnered with RCBC Savings Bank (RSB) to enhance RSB's Hexagon Club-Privilege's premium offerings to its members.

    A Hexagon Club-Privilege member gets to enjoy premium banking service and privileges like priority queuing in the branches, a dedicated relationship manager, free ATM card insurance, waiver of banking fees and charges, preferential rates on loans, time deposit and forex, invitation to exclusive events, and discounts on partner merchants to name a few. To be a member, a client only has to open and maintain an RSB's Dragon All-in-One Checking Account with balance of at least Php 100,000 (subject to terms and conditions).

    With the Sun Life Grepa partnership, RSB's Hexagon Club-Privilege members will also enjoy free life insurance coverage equal to 100% of initial deposit for new accounts, or the previous month's Average Daily Balance (ADB) for existing accounts, with maximum coverage of 3 million pesos.

    Account holders aged 18 to 65 years old are eligible for the coverage.

    "We are pleased to provide financial protection to RSB Hexagon Club Privilege members," says Sun Life Grepa President Richard Lim. "We continue to work with our bank partners to ensure that we provide client - centric value adding benefits to our clients."

    For more information, drop by any RCBC Savings Bank branch today.

  • silvereyedwitchsilvereyedwitch PEx Rookie ⭐
    One of the best savings product for kids is their WISE savings account due to its low opening and maintaning balance requirement, free accident insurance for the kids and the parents, plus it comes with both ATM and passbook.

    I personally have this product with them and I must say with its features, it is a bang for the buck!  ;)




    Isa to sa mga pinapipilian namin na kiddie savings accounts for our kid. Hintay lang namin mag-7 siya para principal account na, hindi ITF. Although parang hindi naman masyado magagamit yun perks with partner merchants, pero maganda nga yung may insurance both the child and the parents.
  • IronHandofJusticeIronHandofJustice Member PEx Guru 🎖️🎖️
    @piquanteye

    I guess YGC has big plans for their thrift bank short term. They are infusing more capital para mas maging competitive, something na hindi ginagawa ng iilang bigger banks sa ngayon. 

    About Hexagon, yes Grepalife for life and Malayan naman for card insurance. Kung may free local ATM withdrawal sila, I won't hesitate to join. 😊

    Hindi sila fan ng contactless. Although wala na akong Bankard as of 2016 pero Gold Visa ko nun is wala. Iyong debit cards din hindi. Pero ang na appreciate ko sa kanila is may JCB cc sila. Hehehe.
  • IronHandofJusticeIronHandofJustice Member PEx Guru 🎖️🎖️
    @silvereyedwitch

    Yes, I agree na wala masyadong promo iyong sa partners, pero superior iyong free insurance both child and parents. 

    This may only be my experience pero positive rin sa akin na not too many ang branches nila compared to PS Bank and BFSB, so maganda siya sa long term deposits for big ticket items (car) and college education (kung gusto ng parents ng balanced portfolio by having some non-stocks asset).

  • piquanteyepiquanteye Member PEx Expert 🎖️
    edited July 2018
    @piquanteye

    I guess YGC has big plans for their thrift bank short term. They are infusing more capital para mas maging competitive, something na hindi ginagawa ng iilang bigger banks sa ngayon. 

    About Hexagon, yes Grepalife for life and Malayan naman for card insurance. Kung may free local ATM withdrawal sila, I won't hesitate to join. 😊

    Hindi sila fan ng contactless. Although wala na akong Bankard as of 2016 pero Gold Visa ko nun is wala. Iyong debit cards din hindi. Pero ang na appreciate ko sa kanila is may JCB cc sila. Hehehe.
    Hinde na masama kung Sunlife ang insurance provider. Since Sunlife naman ang no.1 sa Pinas at matagal na rin sila dito sa Pinas. Secured na talaga ang makakakuha ng free life insurance ng Sunlife-Grepa sa Hexagon Club. Bigatin ang Sunlife.
  • IronHandofJusticeIronHandofJustice Member PEx Guru 🎖️🎖️
    ^ Yes. Sun Life Grepa Financial is 49% owned by Sun Life of Canada and 51% by Yuchengco Group of Companies. Strong ang foundation niya.
  • IronHandofJusticeIronHandofJustice Member PEx Guru 🎖️🎖️
    If you want to send someone money but finds it inconvenient and expensive to use money transfer services, then this is the solution. 😊 
  • IronHandofJusticeIronHandofJustice Member PEx Guru 🎖️🎖️
    @piquanteye

    Here are the details:



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