RCBC posts 48% growth in credit card receivables
‘While we experienced aggressive growth in 2023, we remain prudent in credit standards and ensure that we provide tools to help our cardholders better manage their finances.’
Daily Tribune‘While we experienced aggressive growth in 2023, we remain prudent in credit standards and ensure that we provide tools to help our cardholders better manage their finances.’
Rizal Commercial Banking Corporation saw a 48 percent surge in credit card receivables to P74.7 billion last month compared to the same period in 2022.
In a statement to the media, RCBC said this reflected a 45 percent growth in credit card spending among clients, which reached P139.4 billion in December last year.
“While we experienced aggressive growth in 2023, we remain prudent in credit standards and ensure that we provide tools to help our cardholders better manage their finances,” RCBC Credit Cards president Arniel Vincent B. Ong commented.
RCBC said it had distributed 1 million credit cards due to the bank’s range of privileges, promos to clients, and increased partnerships with merchants.
With these, the bank said it shows its commitment to clients to enable them to “live life unlimited.”
“Notable highlights include the Travel Fairs, access to airport lounges, the seasonal launch of the Lowest Foreign Currency Conversion Fee and Japan Rebate Promotions, and numerous Dining, Shopping, and Wellness Offers at over a hundred in-store and online merchants,” RCBC said.
RCBC said it continues to enhance its digital processes to ensure credit cardholders maximize the benefits of using the cards while avoiding any penalty.