MANILA — Rizal Commercial Banking Corp said on Monday its net income for 2022 reached P12.1 billion, growing 71 percent compared to 2021 due to double-digit increases across its core businesses.

In a disclosure to the stock exchange, the BSP said its 2022 performance made the bank the 5th largest privately-owned bank in the country with P1.2 trillion in total resources.

"RCBC achieved significant expansion in various business segments during the year," it said.

Investment securities rose by over 70 percent while SME loans and credit cards posted "solid double-digit increases," RCBC said.

Its non-performing loan (NPL) ratio, meanwhile, is at its lowest in over a decade, it said.

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