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RCBC 3rd QUARTER 2010 NET INCOME INCREASES BY 30% TO P 3.66 BILLION
RCBC Savings Bank (RSB), the consumer banking arm of RCBC, posted P 803 million in Net Income for the first 9-months of 2010, P 224 million higher than the P 579 million registered during the same period last year. This resulted in an annualized Return on Equity of 16.8% and Return on Assets of 2.15%.
RSB remains among one of the top thrift banks in the country, with total assets of P 52.7 billion, loans of P 33.2 billion and deposits of P 44.2 billion as of end-September 2010.
During the period RSB launched the e.Lite Checking account, the first checking account to offer a top peel checkbook which makes it easier for left handed people to issue checks. The e.Lite Checking account requires an initial deposit of P 2,500 which is also the required maintaining balance. The account allows an accountholder to issue three (3) checks per month free of charge, a P 20 service charge will be imposed on every check issued thereafter.
As of end-September 2010 RCBC Savings had a network of 117 branches and 136 ATMs nationwide. It is a fully owned subsidiary of the Rizal Commercial Banking Corporation and is a proud member of the YGC group of companies.