RIZAL Commercial Banking Corp., the ninth-largest lender in terms of assets, said unaudited consolidated net income in the first nine months declined 3.8 percent to P3.50 billion from P3.64 billion a year ago.
The bank said excluding trading gains and the one-off item relating to the Bangko Sentral ng Pilipinas supervisory enforcement action, core earnings increased 33 percent year-on-year. Annualized return on equity and return on assets stood at 7.82 percent and 0.94 percent, respectively.
“RCBC continues to be resilient despite all the challenges. As early as August of this year, we already recorded in our books the full P1 billion supervisory enforcement action by the BSP,” RCBC president and chief executive Gil Buenaventura said in a statement.