Robinsons Bank intends to double its bottom line in 2018

Robinsons Bank Corp. intends to double its bottom line this year, citing a healthy increase in lending activities.

In an interview in Makati City on Monday, Robinsons Bank president and CEO Elfren Antonio Sarte said the company wants to more than double its net income from P245 million in 2017.

“Our guidance is about P530 million. I think we’re on track in terms of income. As of June, I think we are already around P190 (million). I think we are at that level,” he told GMA News Online.

Robinsons Bank has raised P1.781 billion from Long Term Negotiable Certificates of Time Deposits and listed the certificates on the Philippine Dealing and Exchange Corp.

To maintain growth, Sarte said Robinsons Bank is spending as much as P700 million this year.

“Much of our capex is going into the branch expansion. We have to update our treasury and trust system and we’re spending money in our digital transformation initiatives,” he said.

“There are changing conditions in the banking industry and we have to make sure we give our customers the best digital experience,” Sarte noted.

The bank seeks to open at least two more branches by the end of the year, in line with its expansion plans.

“Today we are already 138. I think we might be 140 by the end of 2018 ... We think there will be opportunity in the second half of the year to accelerate our expansion,” Sarte said. —VDS, GMA News