RCBC bullish on SME, consumer loans despite rising rates

ABS-CBN News

Posted at Jul 16 2018 04:25 PM

Watch more in iWant or iWantTFC

MANILA - Rizal Commercial Banking Corp remains bullish on loans despite rising interest rates because its target market is underserved a bank official said Monday.

There is continuing demand for loans from small enterprises and consumers for cars, homes and credit cards, said RCBC senior vice president and Strategic Initiatives head John Deveras.

"We believe the rising interest rates will make it tougher in terms of providing finance to the large corporates but outside that segment, we’re confident demand will continue despite rising interest rates," Deveras told ANC.

The bank raised P15 billion from its recent stock rights offer, which Deveras said was meant to support lending activities up to 2021.