RCBC received the Best Banking Group Award in the recent Banking Awards held by World Finance. This is the second time the Yuchengco-led bank has received the citation.
The award is given to banks that have developed products and services that address the needs of customers, consistently improved their financial performance and implemented sound corporate governance, the magazine said.
“Our promise to our customers still remains -- to further enhance the way they perform their banking transactions by creating smarter technologies,” RCBC President and Chief Executive Officer Lorenzo V. Tan said in a statement yesterday.
Mr. Tan said RCBC has improved its electronic banking channels, particularly for its retail banking and small and medium enterprise sectors, opening growth opportunities for its consumer market and expanding to the unbanked segment of the country.
The bank was also cited by Corporate Governance Asia for upholding sound business principles and effective policies that comply with the regulations set by the Bangko Sentral ng Pilipinas and the Securities and Exchange Commission.
RCBC’s consolidated net income slightly dropped in the first nine months of the year to P4.71 billion from P4.78 billion recorded in the same period in 2012.
Its shares lost 3.22% or 1.5 centavos yesterday to close at P45.05 apiece from P46.55 on Monday.
http://www.bworldonline.com/
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