contains content that is written like an advertisement . please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view . march 2016 learn how and when to remove this template message rizal commercial banking corporation type public pse rcb industry finance founded manila philippines 1960 headquarters makati philippines key people helen y. dee chairwoman gil a. buenaventura president and ceo services banking net income 5.1 billion 2015 owners yuchengco group of companies cathay financial holdings international finance corporation parent yuchengco group of companies website www.rcbc.com the rizal commercial banking corporation rcbc was established in 1960 as a development bank and is licensed by the bangko sentral ng pilipinas bsp for both commercial and investment banking . it is one of the largest universal banks in the philippines with total consolidated resources of php 516.6 billion as of end 2015 . rcbc is majority owned by the yuchengco group of companies ygc one of the oldest and largest conglomerates in southeast asia covering over 60 businesses which include the leading non life insurance company malayan insurance a life insurance company joint venture with sun life financials philippines sunlife grepa financials ; the leading globally oriented construction company eei corp. ; top educational institutions ; and vehicle dealerships . other significant investors of the bank include the world bank s international finance corporation and cathay life insurance co. ltd. a wholly owned subsidiary of cathay financial holding . ltd. the largest publicly listed holding company in taiwan . contents 1 history 1.1 early years 1.2 the 1970s 1.3 the 1980s 1.4 the 1990s 1.5 present 2 subsidiaries 2.1 rcbc savings bank 2.2 rcbc forex brokers corporation 2.3 rcbc capital corporation 2.3.1 rcbc securities inc. 2.3.2 rcbc bankard services corp. 2.4 merchants savings and loan association inc. operating under the name & style rizal microbank a thrift bank 2.5 rcbc leasing and finance corporation formely first malayan leasing and finance corporation 3 see also 4 external links 5 references history edit early years edit rcbc opened for business as a small development bank in 1960 then went through rapid expansion to become the preferred banker to a wide range of markets the filipino chinese market the corporate market locators in the export processing zones the middle market and the consumer retail market . in 1964 rcbc marked a significant presence in the filipino chinese business community with the opening of its first branch in binondo . in 1967 this foothold was strengthened when ambassador alfonso t. yuchengco founder of the yuchengco group of companies ygc assumed the chairmanship of the board . because of his strong ties with the filipino chinese business community and the bank s record in serving this market the filipino chinese market has remained to be one of the bank s major market niches . the 1970s edit in 1973 chairman yuchengco deemed it crucial to invite two international banks to raise the level of banking expertise of rcbc in trade financing international banking credit control and systems and procedure to global standards . these were the continental illinois national bank and trust co. of chicago usa connill and the united financial of japan . the tie up with these banks reinforced the role of rcbc among corporate clients who preferred institutions with international banking expertise . further the affiliation with the united financial of japan opened another market for rcbc the japanese market . together the corporate the filipino chinese and japanese markets account for a substantial share of the bank s portfolio . the 1980s edit the period marked the rapid branch expansion for the bank . while most of its peers were establishing branches within metro manila rcbc pursued branch expansion in key growth areas like the export processing zones . this enabled the bank to tap and forge long term relationships with the foreign locators especially those in the semiconductor industry . anticipating bigger things to come rcbc successfully listed its shares in the philippine stock exchange in 1986 . the following year rcbc diversified into the retail market with the introduction of private banking home mortgage car financing and the rcbc credit card . the 1990s edit the establishment of the rcbc s thrift bank arm the rcbc savings bank in 1996 was an indication of rcbc s strategic thrust of becoming a major player in the retail market . this has been supported by the acquisition of a large thrift bank the capitol development bank in 1998 and the acquisition of 67 % stake in bankard a major player in the credit card business in mid 2000 . the expanded branch network of 287 branches and 5 extension offices the opening of foreign offices in hong kong rcbc international finance ltd. in 1979 in the us rcbc california international ltd. in 1993 and in italy rcbc telemoney europe in 1995 and affiliations with offshore banks and money transfer agencies stabilized the position of rcbc in the remittance business . the bank now accounts for more than 10 % of the remittance business . on top of a banking business the bank has equity holdings in companies engaged in power generation automotive assembly thrift banking food manufacturing etc. rcbc entered into a joint venture agreement with honda cars and mitsubishi corp. of japan and the ayala group to produce the well engineered and popular honda cars for the philippine market . together with another yuchengco group flagship the house of investments and the enron corp. it put up the subic power corp. spc a diesel fired 116 megawatt power plant built under the build operate transfer scheme . to strengthen its position in the capital market the bank fully acquired the philippine pacific capital corp. from its partners and renamed it rcbc capital corp. it entered into a joint venture agreement with isuzu corp. mitsubishi corp. and the ayala corp. to form isuzu motors phils . co. ltd. which is into the assembly manufacturing importation and distribution of auvs pick ups and medium and big sized trucks and buses . it has equity participation in pilipinas shell petroleum corp. in november 1996 rcbc joined agila holdings itochu and hacienda luisita in putting up the luisita industrial park corp. a 300 hectare industrial park for japanese investors . together with great pacific life assurance corp. it forged a tie up 1997 with japan s largest life insurance company the nippon life insurance corp. forming a new joint venture life insurance company the nippon life insurance company of the philippines . other equity investments of rcbc are in lgu guarantee corp a joint bap dbp guarantee institution to cover 85 % of local government s unit debts ; in lima land inc. a real estate company involved in the development of a 440 hectare industrial park in lipa malvar ; in kg investments holdings ltd. with the koo family and in rcbc land inc. a joint venture between rcbc and pan malayan management and investments corporation . the company s maiden project is the rcbc plaza the new home of rcbc . the project is a joint venture with the government of singapore investment corporation . present edit rcbc automated teller machine at 7eleven store baliuag bulacan . in 2012 rcbc s investment banking arm rcbc capital participated in raising a total of p 174.4 billion through 12 lead and co lead roles in the debt and equity capital markets for several issuers . rcbc capital posted a growth of 94 % in its revenues in 2012 . subsidiaries edit rcbc savings bank edit established in 1996 as the bank s consumer banking arm . rsb provides deposit products real estate loans auto loans and personal loans . as of end december 2013 rsb had 145 business centers and 343 atms nationwide . rcbc forex brokers corporation edit incorporated in 1998 . rcbc forex is primarily engaged in dealing and brokering currencies in foreign exchange contracts with local and international clients . rcbc capital corporation edit rcbc s investment banking arm which offers investment banking and financial consultancy services which include i the underwriting of equity quasiequity and debt securities on a firm or best efforts basis for private placement or public distribution ; ii the syndication of foreign currency or peso loans ; and iii financial advisory services . rcbc securities inc. edit a wholly owned subsidiary of rcbc capital is engaged in the electronic and traditional trading of listed securities and in providing corporate and market research . rcbc bankard services corp. edit a wholly owned subsidiary of rcbc capital engaged in providing services to the credit card business of the bank . merchants savings and loan association inc. operating under the name & style rizal microbank a thrift bank edit was acquired by rcbc to engage in microfinancing and development of small businesses . rizal microbank has 15 microfinance lending branches with operations in southern luzon and mindanao . rcbc leasing and finance corporation formely first malayan leasing and finance corporation edit a pioneer in the leasing and financing industry in the philippines as the company started its operations in 1957 . rcbc leasing is a non bank financial institution with a quasi banking license granted by the bangko sentral ng pilipinas . it serves the requirements of corporate commercial and consumer markets through its innovative loans leases and investment products . to minimize the bank s carbon footprint on 28 october 2013 rcbc s microfinance subsidiary rizal microbank opened the very first banking office made of recycled shipping container vans in the philippines . 1 see also edit bancnet external links edit rizal commercial banking corporation website reuters stock quote reuters analyst research rizal commercial banking corp philippine stock exchange reuters full description references edit v t e pse composite index companies of the philippines ayala aboitiz equity ventures alliance global ayala land aboitiz power bdo bloomberry resorts bpi dmci edc emperador first gen globe gt capital ictsi jollibee jg summit lt group metrobank megaworld meralco metro pacific petron pldt robinsons land semirara mining sm investments san miguel sm prime universal robina v t e banks in the philippines bangko sentral ng pilipinas universal banks asia united bank bdo bpi chinabank eastwest bank metrobank pnb philtrust psbank rcbc security bank unionbank ucpb government banks al amanah islamic investment bank of the philippines dbp landbank postalbank commercial banks bank of commerce chinatrust citibank hsbc maybank pbcom robinsons bank standard chartered bank veterans bank thrift banks bpi direct savings bank china bank savings citystate equicom philippine business bank plantersbank security bank savings other banks cooperative banks rural banks defunct allied bank merged with pnb banco filipino equitable pci bank merged with bdo retrieved from https en.wikipedia.org w index.php title rizal commercial banking corporation & oldid 739022253 categories companies established in 1960banks of the philippinescompanies based in makatihidden categories articles with a promotional tone from march 2016all articles with a promotional tone navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages ilokano edit links this page was last modified on 12 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