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The bank was established by Alfonso Yuchengco on September 23, 1960, as Rizal Development Bank, a small development bank in Rizal province. [13] It was later upgraded to a commercial bank upon the approval of the Bangko Sentral ng Pilipinas and, in 1963, began operation as such under its present name Rizal Commercial Banking Corporation ( RCBC ).
RCBC may refer to: Rizal Commercial Banking Corporation known as RCBC Bank; Royal Connaught Boat Club; Robinson College Boat Club; Rowan College at Burlington County
Rizal Commercial Banking Corporation (RCBC) 1,382,041.51: 7 Philippine National Bank (PNB) ... LOLC Bank Philippines, Inc. 1,235.63: 33 Makiling Development Bank ...
Prior to that, he also served as the President and CEO of the largest life insurer in the Philippines, Sun Life of Canada (Philippines), Inc., another publicly-listed universal bank, the Philippine National Bank; the fourth largest universal bank in the Philippines, and the United Coconut Planters Bank. [2] [3] [4] [5]
In the past, YGC had sought to nullify its acquisition on the grounds that it paid Equitable PCI Bank too much. [citation needed] In 2007, the company rebranded from Bankard to RCBC Bankard after the sale of the entire Bankard business to RCBC was concluded in December 2006. [4] GE Money failed to acquire Bankard from RCBC. [5]
BancNet was founded on July 17, 1990, as the Philippines' second ATM consortium when the ATMs of eight banks, PCI Bank (later Equitable PCI Bank, now Banco de Oro), Security Bank, Chinabank, RCBC, Allied Bank (now part of PNB), Metrobank, International Exchange Bank (now part of UnionBank) and CityTrust Banking Corp. (now part of BPI) formed BancNet.
He was president and CEO of Philippine National Bank, Chairman of CitySavings, [4] and managing director with Citibank He was born in Cebu City , [ 5 ] was raised in Surigao del Sur , and studied at the De La Salle John Bosco College [ 6 ] in Bislig , where he graduated high school valedictorian.
Digital banks in the Philippines are a new formal category of banks which were only approved by the Bangko Sentral ng Pilipinas (BSP), the country's central bank, in 2020. [1] The first such banks launched in the Philippines were Tonik, Overseas Filipino Bank, and UnionDigital of UnionBank of the Philippines .