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In 2000, majority of Bankard was sold to the Yuchengco Group of Companies, owner of Rizal Commercial Banking Corporation (RCBC). [3] RCBC's credit card operations, RCBC Card, were subsequently merged into Bankard, forming the current company. Through RCBC Card, Bankard also started issuing JCB cards. Bankard was two-thirds owned by the ...
In early 2020, RCBC's board approved a new digital banking platform through the creation of its wholly owned rural bank. [31] [32] [33] In July 2020, RCBC launched its digital bank DiskarTech offering an interest rate of 3.25% per annum with no minimum deposit and maintaining balance.
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Lorenzo Tan was president and chief executive officer of RCBC for 9 years, from 2007 to 2016. During his first year with RCBC he steered the bank to a 56% growth in its net income at Php 3.21 billion, the steepest profit growth among the Philippines' top 10 banks. In 2009 RCBC recorded a 54% increase in its net income at Php3.33 billion. [32]
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There was no signs of forcible entry noted with the bank's backdoor found open. The perpetrators were speculated to be already in the bank early morning. [ 5 ] The police recovered 17 empty shells from a .45 calibre pistol and some live ammunitions for an M16 rifle [ 6 ] ₱9 million was looted from the bank.
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