RCBC 9-month net income dips to P9B

By Brix Lelis

Nov 15, 2023 12:30 am

RIZAL Commercial Banking Corp. (RCBC), a member of the Yuchengco Group, posted a net income of P9 billion in the first nine months of the year, 10.89 percent lower than the previous year's P10.1 billion due to the absence of one-off income.

In a statement on Tuesday, the bank said the nine-month result was driven by a 7-percent improvement in core business profitability that was 'offset by significant non-recurring income posted last year,' while fee income increased by 17 percent from year-ago levels.

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