RCBC H1 2026 net income down on credit impairment provisions

Rizal Commercial Banking Corp. (RCBC) saw a double-digit drop in its first-half net income, dragged by credit impairment provisions due to heightened geopolitical uncertainties.

Net income fell 22.6% to P4.11 billion from P5.3 billion a year earlier, despite an 11.6% increase in gross income to P33.91 billion. The bank did not disclose the amount of its credit impairment provisions but said its cost-to-income ratio stood at 53.6%.

“We are navigating a complex and shifting macroeconomic landscape,” RCBC President and Chief Executive Officer Reginaldo Cariaso said in an emailed statement.

“However, we have been building up our defenses, strengthening our balance sheet, and pursuing measured portfolio growth to protect, scale, and elevate the strong franchise that is RCBC,” he added.

Total customer loans rose 9% to P806.0 billion during the first half, driven by a 22% increase in the consumer lending portfolio to P402.4 billion. Total assets increased to P1.41 trillion, while total capital hit P150.84 billion, and deposits reached P1.06 trillion.

As of the end of the first half, RCBC operated 471 RCBC and RCBC Microbank branches, 1,518 automated teller machines (ATMs), and 5,086 ATM Go terminals nationwide. —VBL, GMA News