Monday, September 28, 2020

RCBC Exec Eyes Sustained Double-Digit Loan Growth This Year

RCBC Exec Eyes Sustained Double-Digit Loan Growth This Year

Spotlight

7 Commandments To Revitalize The Country Safely

Medical experts recommend strict health protocols for public transportation.

Alibaba Cloud Launches New Digital Ecosystem Strategy In The Philippines

This will help local businesses adapt further to the new normal!

EDC Donates PCR Machines To Enhance Negros Oriental’s COVID-19 Resiliency

Energy Development Corporation donates equipment worth P8.5-million to Negros Oriental.

CeMAP, PISI Express Full Support For Bayanihan To Recover As One Act

The Cement Manufacturers Association of the Philippines and Philippine Iron and Steel Institute announce full support to the recently signed Bayanihan to Recover as One Act.

A ranking official of Rizal Commercial Banking Corporation (RCBC) expects continued double-digit growth this year of consumer loans on the back of the decline of domestic interest rates.

RCBC Consumer Lending Group head Rommel Latinazo said they are optimistic of the sustained robust performance of their consumer business.

He said the decline of domestic interest rates is a plus since it will encourage more people to take loans.

“With the easing of rates demand should further grow,” he said.

In 2018 the bank registered nearly 14-percent growth on consumer loans.

To date, the Bangko Sentral ng Pilipinas’ (BSP) policy-making Monetary Board (MB) slashed the central bank’s key rates by 75 basis points after hiking it by a total of 175 percent last year due to elevated inflation rate.

Despite an uptick to 3.2 percent last May from the previous month’s 3 percent, domestic rate of price increases has slowed after peaking at 6.7 percent in September and October 2018.

Last September, it decelerated to 0.9 percent from 1.7 percent in the previous month.

Meanwhile, the bank’s consumer loans, which include auto, mortgage and credit cards, totaled to around PHP120 billion in the first half of this year.

Latinazo said loan growth is expected to get a boost from the recently launched Auto and Home Plus, which provides borrowers an insurance coverage for their chosen product for the entire duration of the loan.

He said borrowers will find it easy to pay the insurance premium because it will be included in their monthly payments instead of one-time payment.

For existing RCBC auto loan customers, they may upgrade to this new product that will provide them one-year worth of car insurance. Minimum loan for auto loan product is PHP500,000.

For Home Loan Plus, which comes with a fire insurance, minimum loan amount is PHP1 million. (PNA)

Latest News

Sen. Angara: Work On Making It Easier For Seniors And PWDs To Vote During Elections

Angara pushes for the holding of early voting for close to 10 million senior citizens and PWDs to ensure greater participation in the electoral process and to reduce the risks on their health due to the COVID-19 pandemic.

Bataan Reports 100 New COVID-19 Recoveries

Twelve elderlies in Bataan recover from COVID-19.

realme Brings World’s First MediaTek Helio G95 Smartphone realme 7 To PH

There's no stopping realme in giving you the best midrange phone experience!

Sen. Gatchalian Bats For ‘Learner Support Aides’ In Low-Risk Areas

"We can deploy learner support aides immediately to low risk areas. We just need to make sure that they will pass rigorous health tests or health standards."

NegOcc Covid-19 Laboratory Now Running Up To 1.3K Tests Daily

The Teresita Lopez Jalandoni Provincial Hospital Molecular Laboratory in Silay City, Negros Occidental has increased its COVID-19 testing capacity to 1,300 samples daily!

Eleazar: Beerhouses, Bars Still Banned Even In Areas Under MGCQ

Operations of beerhouses and similar establishments remain prohibited even in areas under the most relaxed MGCQ, said Eleazar.

PH Covid-19 Tally Climbs To 304,226; Recoveries Now 252,510

Coronavirus cases in the Philippines surpass the 300,000 mark.

Sen. Drilon Seeks Hike In DOH, DSWD Budgets For 2021

“Maybe at least for 2021, let us give utmost priority to the budgets of the DOH and DSWD... Let us give priority to our social service sector in order to address the pandemic.”

Mindanao’s Organic Rice Penetrates Manila Market

Manila City's program to give each of its 150,000 senior citizens a pack of the nutritious black and red organic rice this Christmas has given Mindanao rice farmers a reason to rejoice.