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.

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

GT Capital nine-month income dips to P21.7B

JG Summit to inject P17B into olefins unit

Banking propels SMIC 9-mo income to P60.9B

Ayala Jan-Sept net rises 19% to P36.7B

PLDT Jan-Sept net edges up to P28.1B

San Miguel income lifted by strong sales

SM Prime 9-month profit up 12% to P34B