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RCBC set to launch virtual banking service in January

ABS-CBN News
Posted at Nov 27 11:01 PM

Major Philippine bank RCBC believes another policy rate adjustment by year-end isn't off the table as it lowers its growth forecast for the country. Read more »

RCBC accused of suppressing evidence in money laundering case

Mike Navallo, ABS-CBN News
Posted at Sep 24 07:22 PM

The Rizal Commercial Banking Corporation (RCBC) was accused Tuesday of suppressing evidence in the money laundering case against some of its current and former officials. Read more »

Gov't spending to pickup in second half: RCBC

ABS-CBN News
Posted at Aug 08 09:18 AM

Government spending will rebound in the second half, in a boost to economic growth, RCBC chief economist Mike Ricafort says. Loan demand will help the banking sector grow throughout the rest of 2019, he says. Read more »

RCBC bank 'fighting its way back' to the top, president says

Cathy Yang, ABS-CBN News
Updated as of Jul 26 05:39 PM

Rizal Commercial Banking Corp is regaining ground, as it recovered from the fallout of a $81 million (P4.1 billion) money laundering caper, its president said Friday. Read more »

RCBC secures regulator approval for merger with thrift unit

ABS-CBN News
Posted at Jul 23 10:45 AM

The regulator approved the merger between RCBC and RCBC Savings Bank on Monday, the lender said. The Bangko Sentral ng Pilipinas approved the deal in June, RCBC said in a disclosure. Read more »

Fintech group seeks 'seamless' onboarding for unbanked Filipinos

ABS-CBN News
Updated as of May 27 10:52 AM

Adopting formal financial channels should be "seamless" for millions of Filipinos who don't have accounts with banks and financial institutions, said Fintech Alliance chairman Lito Villanueva, who is also EVP and chief innovation and inclusion officer for RCBC. Read more »

DOJ charges 5 former RCBC officials for facilitating money laundering

Mike Navallo, ABS-CBN News
Posted at May 22 06:04 PM

State prosecutors have charged 5 former and current Rizal Commercial Banking Corporation (RCBC) officials of facilitating money laundering in connection with the February 2016 $81-million Bangladesh Bank heist.   Read more »

RCBC officials' appeal over dirty money raps denied

ABS-CBN News
Updated as of May 22 03:14 PM

The 5 were accused of lifting a hold order on 4 RCBC accounts that received millions of dollars that were stolen from Bangladesh Bank's account with the Federal Reserve in New York, DOJ spokesperson Usec Mark Perete said in a statement.  Read more »

RCBC files defamation suit against Bangladesh Bank

ABS-CBN News
Posted at Mar 12 01:36 PM

The suit, filed before a Manila court on March 6, was served to Bangladesh Bank Deputy Governor Abu Hena Mohammad Razee Hasan and other officials, who were in Manila this week, RCBC said. Read more »

SWIFT says helping Bangladesh Bank rebuild network after cyber heist

Krishna Das, Reuters
Updated as of Feb 04 11:19 PM

SWIFT's comments came after the New York Fed on Friday agreed to provide "technical assistance" to Bangladesh Bank in its lawsuit against Manila-based Rizal Commercial Banking Corp (RCBC). RCBC was used to funnel the money, much of which disappeared into the casinos of the Philippines. Read more »

Bangladesh Bank lawsuit vs RCBC a 'political stunt,' lawyer says

ABS-CBN News
Updated as of Feb 01 02:33 PM

In a statement, RCBC said it has not been notified and was unaware whether any complaint has been filed. But it has engaged US law firm Quinn Emanuel for its defense.  Read more »

PH shares fall to 7,900; net foreign buying remains strong

ABS-CBN News
Posted at Jan 31 12:05 AM

The Philippine Stock Exchange index fell below 8,000 despite net foreign buying remaining strong. Read more »

Bangladesh to sue RCBC over $81-M cyberheist

Serajul Quadir, Reuters
Posted at Jan 30 07:49 PM

Bangladesh will file a lawsuit in a US court on Wednesday against Rizal Commercial Banking Corp (RCBC) over its role in one of the world's biggest cyber-heists, the Bangladesh central bank governor said. Read more »

RCBC welcomes Bangladesh Bank rap over $81 million heist

ABS-CBN News
Posted at Jan 30 05:29 PM

MANILA - The Rizal Commercial Banking Corp (RCBC) on Wednesday said it welcomes the complaint the Bangladesh Bank will reportedly lodge against it over a 2016 heist that funneled some $81-million in stolen funds through one of its Makati branches.    Read more »

Ex-RCBC manager Deguito appeals money laundering conviction

ABS-CBN News
Posted at Jan 28 03:32 PM

Deguito asked the Makati Regional Trial Court to "set aside" its decision last Jan. 10 and acquit her in related cases. Her lawyers said the "wrong penalty" was imposed upon her. Read more »

Moody's keeps 'stable' outlook on PH banks, warns of risk over Hanjin

ABS-CBN News
Updated as of Jan 16 10:57 AM

Philippine banks are on "strong footing" with "robust" capital and liquidity buffers to withstand challenges that could come up in the next 12 to 18 months, Moody’s Investor Service vice president and senior analyst Simon Chen told ANC.  Read more »

RCBC forms 'green' finance framework

ABS-CBN News
Updated as of Jan 14 12:39 PM

Funding will focus on renewable energy, green buildings, clean transport, energy efficiency, and pollution prevention and control, RCBC told the stock exchange. Read more »

As Hanjin seeks rehab, BSP says PH banking system ‘strong, stable’

ABS-CBN News
Updated as of Jan 11 08:11 PM

The industry remains "very liquid and profitable," the BSP said. Read more »

Hanjin creditors risk earnings hit if loans not provisioned: analyst

ABS-CBN News
Updated as of Jan 11 04:46 PM

Reeling from a global slowdown in shipping, Hanjin's Philippine unit sought court-assisted rehabilitation to pay 5 banks some $412 million. Read more »

Philippine banks seek to collect millions from downturn-hit Hanjin

ABS-CBN News
Updated as of Jan 11 09:53 PM

Hanjin, which employs 3,000 people at its shipyard north of Manila, has $2.3 billion in assets and the rehabilitation filing was a "proactive move" to avoid default, said Subic Bay Metropolitan Authority administrator Wilma Eisma. Read more »