Rizal Commercial Banking Corporation (RCBC) is one of the largest private domestic banks in the Philippines, with over 462 branches and 2,911 ATMs as of 2022. Established in 1960, the bank provides a comprehensive range of financial services, including retail and investment banking, microfinance, foreign exchange brokerage, leasing, and overseas remittance. Through its long-standing presence, RCBC has cemented itself as a key player in the country’s banking industry.
Commitment to Sustainable Finance
RCBC is a pioneer in responsible lending and sustainable finance, guided by its Sustainable Finance Framework (SFF). The bank actively supports renewable energy, clean technology, and environmental conservation projects. In December 2020, RCBC made a bold commitment to cease funding new coal power plants in the Philippines, aiming to completely phase out its coal exposure by 2031. As of 2022, sustainable assets accounted for 12% of its total loan portfolio, surpassing its 6% coal exposure. To ensure transparency, RCBC publishes annual sustainability reports detailing its environmental and social performance.
Driving Financial Inclusion
To promote inclusive banking, RCBC launched Rizal MicroBank (RMB) in 2010 to serve unbanked and underserved communities. Additionally, its Digital Enterprise Innovations Group (DEIG) developed digital financial inclusion initiatives, especially during the COVID-19 pandemic. The bank introduced DiskarTech in 2020, the country’s first multi-lingual financial inclusion mobile super app, designed to serve the 70% of Filipinos without access to formal banking services. The app provides bill payments, eGaming pins, money transfers, insurance, and telemedicine, with over 3 million downloads to date.
Expanding Access to Banking Services
RCBC continues to innovate with projects like Moneybela and NegosyanTech. Moneybela is the Philippines’ first human-assisted remote banking service, combining digital banking (via DiskarTech), clean transportation (electric tricycles), and human interaction to reach 42,000 rural barangays. Meanwhile, NegosyanTech provides digital payment solutions for small businesses, public markets, and transportation sectors, ensuring that financial services extend to the country’s informal economy.
Recognitions and Commitment to Nation-Building
RCBC’s efforts in digital banking, financial inclusion, and corporate social responsibility (CSR) have earned it numerous awards, including “Best Digital Bank in the Philippines” and “Best Initiative for Social Responsibility.” The bank’s dedication to sustainable development, financial literacy, and poverty alleviation further reinforces its commitment to uplifting underserved communities while driving the nation’s progress.
