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Rizal Commercial Banking Corp. (RCBC) and 5R Prime Properties partnered to provide home loans to middle and higher-income earners as the real estate firm expands suburban projects in Bulacan.
5R Prime Properties chief executive officer Alvin Alquinto said the partnership with RCBC was a compelling move, driven by the bank’s client data over the years.
“More than half of our clients already prefer RCBC for providing the best customer experience. We look forward to RCBC being with us every step of the way,” he said.
RCBC head of consumer lending Ramil de Villa said 5R Prime Properties’ clients match the profiles of 80 percent of the bank’s target market.
More units planned in Bulacan
5R Prime Properties offers house, lot, and townhouse units in Tagaytay, Rizal, Bulacan and Quezon City.
RCBC shared in a statement that to accommodate the demand for house and lot units; the property firm is building more units in Plaridel, Bulacan.
This will further increase the number of home units in the area to nearly 400 or more.
“The partnership marks a significant step in our commitment to providing financial solutions that empower individuals and families to achieve their dream of homeownership,” RCBC president and chief executive officer Eugene Acevedo said.
“Collaborating with 5R Prime Properties is more than just business — it’s about building communities, creating opportunities and driving progress,” he added.
In its disclosure to the Philippine Stock Exchange, RCBC said its home loans and auto loans jumped by 30 percent last year, expanding the bank’s total loan portfolio by 17.2 percent or above the industry’s average growth of 11.1 percent.
Acevedo said continued inflows of remittances to families of overseas Filipino workers and employees of business process outsourcing firms should drive at least 20 percent growth in consumer loans this year.
“Data analytics and digital enhancements have become key drivers for our income growth in 2024 and will remain to be our priorities in 2025,” he said.
