RCBC income hits P2.6B
Rizal Commercial Banking Corp. reported a 3.3-percent rise in its unaudited consolidated income for the first half of the year to P2.61 billion year-ago level.
Core income excluding the cyclical trading gains rose by 59 percent. Annualized return on equity and return on assets stood at 8.8 percent and 1.1 percent, respectively.
Total consolidated assets expanded by 6.7 percent year-on-year to P500.33 billion while capital funds was at P59.91 billion. The bank’s capital adequacy ratio of 16.78 percent exceeded the BSP minimum requirement of 10 percent.
Total deposits hit P319.82 billion as of end June.
Net interest income was P8.06 billion, up by 8.2 percent and represented 66.39 percent of gross income.
The interest income from the lending business accounted for 82.7 percent of the total interest income.
