RCBC

RCBC's net profit rose 83.9% yoy to PHP 1,867 mil in 3Q2019

By Helgi Analytics - February 20, 2020

RCBC made a net profit of PHP 1,867 mil under revenues of PHP 10,901 mil in the third quarter of 2019, up 83.9% and 64.9% ...

RCBC's net interest income rose 9.91% yoy to PHP 5,832 mil in 3Q2019

By Helgi Analytics - March 4, 2020

RCBC generated total banking revenues of PHP 10,901 mil in the third quarter of 2019, up 64.9% when compared to the same period o...

RCBC's net interest margin fell 2.04% yoy to 3.47% in 3Q2019

By Helgi Analytics - February 21, 2020

RCBC's net interest margin amounted to 3.47% in the third quarter of 2019, up from 3.32% when compared to the previous quarter. ...

Profit Statement 2016 2017 2018
Net Interest Income PHP mil 16,156 18,255 20,678
Net Fee Income PHP mil 3,458 3,417 3,601
Other Income PHP mil 3,076 3,357 2,202
Total Revenues PHP mil 22,690 25,029 26,481
Staff Cost PHP mil 5,408 5,991 6,562
Operating Profit PHP mil 5,600 6,752 7,004
Provisions PHP mil 1,770 2,155 1,899
Net Profit PHP mil 4,054 3,985 4,268
Balance Sheet 2016 2017 2018
Interbank Loans PHP mil 33,182 29,649 30,374
Customer Loans PHP mil 286,131 329,306 353,717
Debt Securities PHP mil 78,851 76,331 122,080
Total Assets PHP mil 521,193 553,988 644,595
Shareholders' Equity PHP mil 62,133 67,027 81,170
Interbank Borrowing PHP mil 16,002 34,246 50,601
Customer Deposits PHP mil 353,077 388,412 423,399
Issued Debt Securities PHP mil 74,010 48,154 69,356
Ratios 2016 2017 2018
ROE % 6.74 6.17 5.76
ROA % 0.782 0.741 0.712
Costs (As % Of Assets) % 3.30 3.40 3.25
Costs (As % Of Income) % 75.3 73.0 73.6
Capital Adequacy Ratio % 16.2 15.5 16.1
Net Interest Margin % 3.12 3.40 3.45
Loans (As % Of Deposits) % 81.0 84.8 83.5
NPLs (As % Of Loans) % 1.04 1.33 1.19
Provisions (As % Of NPLs) % 242 178 238
Valuation 2016 2017 2018
Market Capitalisation (End Of Period) USD mil 947 1,550 1,053
Share Price (End Of Period) PHP 31.3 51.6 28.5
Price/Earnings (P/E) 11.6 19.4 11.0
Price/Book Value (P/BV) 0.756 1.16 0.578
Dividend Yield % 0 0.997 2.16
Earnings Per Share (EPS) PHP 2.70 2.65 2.59
Book Value Per Share PHP 41.4 44.6 49.3
Dividend Per Share PHP 0 0.514 0.616

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summary Unit 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                                          
Net Interest Income PHP mil                                             11,399 13,311 14,967 15,814 16,156    
Total Revenues PHP mil                                             22,467 22,878 22,069 22,139 22,690    
Operating Profit PHP mil                                             9,101 8,404 7,833 7,044 5,600    
Net Profit PHP mil                                             6,220 5,321 4,411 5,105 4,054    
balance sheet                                                          
Interbank Loans PHP mil                                             5,879 7,537 16,600 19,701 33,182    
Customer Loans PHP mil                                             202,734 245,922 261,574 299,119 286,131    
Debt Securities PHP mil                                             101,975 97,279 106,145 114,571 78,851    
Total Assets PHP mil                                             364,095 421,869 457,905 516,061 521,193    
Shareholders' Equity PHP mil                                             42,973 44,808 53,131 58,129 62,133    
Interbank Borrowing PHP mil                                       ... ... ... ... 38,345 ... ... 16,002    
Customer Deposits PHP mil                                             246,757 297,853 315,761 342,362 353,077    
Issued Debt Securities PHP mil                                             58,927 24,867 73,206 98,704 74,010    
ratios                                                          
ROE % ...                                           15.4 12.1 9.01 9.18 6.74    
ROA % ...                                           1.75 1.35 1.00 1.05 0.782    
Costs (As % Of Assets) % ...                                           3.77 3.68 3.24 3.10 3.30    
Costs (As % Of Income) %                                             59.5 63.3 64.5 68.2 75.3    
Capital Adequacy Ratio % ... ... ... ... ... ... ... ... ... ... ...     ... ...               17.6 16.5 15.4 15.7 16.2    
Net Interest Margin % ...                                           3.21 3.39 3.40 3.25 3.12    
Interest Income (As % Of Revenues) %                                             50.7 58.2 67.8 71.4 71.2    
Fee Income (As % Of Revenues) %                           ... ...               10.6 11.8 11.8 17.0 15.2    
Staff Cost (As % Of Total Cost) %                                             27.4 25.5 43.7 31.3 31.6    
Equity (As % Of Assets) %                                             11.8 10.6 11.6 11.3 11.9    
Loans (As % Of Deposits) %                                             82.2 82.6 82.8 87.4 81.0    
Loans (As % Assets) %                                             55.7 58.3 57.1 58.0 54.9    
NPLs (As % Of Loans) % ... ... ... ... ... ... ... ... ... ... ...         ...       ...     1.61 0.986 0.983 0.753 1.04    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... ... ... ... ...         ...       ...     410 303 245 305 242    
valuation                                                          
Market Capitalisation (End Of Period) USD mil                                             1,667 1,222 1,369 986 947    
Number Of Shares (Average) mil                     ... ... ...     ...             1,224 1,331 1,369 1,462 1,502    
Share Price (End Of Period) PHP                                             55.9 39.6 44.7 30.8 31.3    
Earnings Per Share (EPS) PHP                     ... ... ...     ...             4.74 3.68 2.90 3.49 2.70    
Book Value Per Share PHP                     ... ... ...     ...             35.1 33.7 38.8 39.8 41.4    
Dividend Per Share PHP                                             0.839 0.932 0.559 0.671 0    
Price/Earnings (P/E)                     ... ... ...     ...             11.8 10.8 15.4 8.81 11.6    
Price/Book Value (P/BV)                     ... ... ...     ...             1.59 1.18 1.15 0.773 0.756    
Dividend Yield %                                             1.50 2.35 1.25 2.18 0    
Earnings Per Share Growth % ...                   ... ... ... ...   ... ...           14.4 -22.4 -21.3 20.5 -22.7    
Book Value Per Share Growth % ...                   ... ... ... ...   ... ...           2.80 -4.05 15.2 2.50 3.99    
income statement Unit 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                                                          
Interest Income PHP mil                                             18,755 18,824 20,200 21,757 23,586    
Interest Cost PHP mil                                             7,356 5,513 5,233 5,943 7,430    
Net Interest Income PHP mil                                             11,399 13,311 14,967 15,814 16,156    
Net Fee Income PHP mil                           ... ...               2,373 2,702 2,594 3,759 3,458    
Other Income PHP mil                           ... ...               8,695 6,865 4,508 2,566 3,076    
Total Revenues PHP mil                                             22,467 22,878 22,069 22,139 22,690    
Staff Cost PHP mil                                             3,660 3,693 6,225 4,731 5,408    
Depreciation PHP mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 1,202 1,261    
Other Cost PHP mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 9,162 10,421    
Operating Cost PHP mil                                             13,366 14,474 14,236 15,095 17,090    
Operating Profit PHP mil                                             9,101 8,404 7,833 7,044 5,600    
Provisions PHP mil                                             2,486 2,054 2,509 2,350 1,770    
Extra and Other Cost PHP mil                                             -357 -243 0 -93.0 -131    
Pre-Tax Profit PHP mil                                             6,972 6,593 5,324 4,787 3,961    
Tax PHP mil                                             745 1,259 914 -317 -94.5    
Minorities PHP mil                                             7.00 13.0 -1.00 -1.00 2.00    
Net Profit PHP mil                                             6,220 5,321 4,411 5,105 4,054    
Dividends PHP mil                                             1,027 1,276 765 1,008 0    
growth rates                                                          
Net Interest Income Growth % ...                                           5.22 16.8 12.4 5.66 2.16    
Net Fee Income Growth % ...                         ... ... ...             9.86 13.9 -4.00 44.9 -8.01    
Total Revenue Growth % ...                                           8.21 1.83 -3.54 0.317 2.49    
Operating Cost Growth % ...                                           7.32 8.29 -1.64 6.03 13.2    
Operating Profit Growth % ...                                           9.55 -7.66 -6.79 -10.1 -20.5    
Pre-Tax Profit Growth % ...                                           16.8 -5.44 -19.2 -10.1 -17.3    
Net Profit Growth % ...                                           23.7 -14.5 -17.1 15.7 -20.6    
market share                                                          
Market Share in Revenues % ... ... ... ... ... ... ... ... ... ... ...                       6.57 5.78 5.38 5.22 4.67   ...
Market Share in Net Profit % ... ... ... ... ... ... ... ... ... ... ...                       6.14 4.44 3.78 4.44 3.20   ...
Market Share in Branches % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       4.58 ... ... ... ... ... ...
balance sheet Unit 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
balance sheet                                                          
Cash PHP mil                                             46,000 62,317 59,184 64,687 81,696    
Interbank Loans PHP mil                                             5,879 7,537 16,600 19,701 33,182    
Customer Loans PHP mil                                             202,734 245,922 261,574 299,119 286,131    
Retail Loans PHP mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...     12,924 43,851 57,784 76,052 293,542    
Mortgage Loans PHP mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   ... ... 31,802 57,784 76,052 ... ... ...
Consumer Loans PHP mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   ... ... 12,049 0 0 ... ... ...
Debt Securities PHP mil                                             101,975 97,279 106,145 114,571 78,851    
Fixed Assets PHP mil                                             7,507 8,814 7,031 7,602 8,876    
Intangible Assets PHP mil ... ... ... ... ... ... ...                               1,341 1,408 426 426 2,233    
Goodwill PHP mil ... ... ... ... ... ... ... ... ... ... ... ... ...                   426 426 426 426 268    
Total Assets PHP mil                                             364,095 421,869 457,905 516,061 521,193    
Shareholders' Equity PHP mil                                             42,973 44,808 53,131 58,129 62,133    
Of Which Minority Interest PHP mil                                             30.0 23.0 22.0 24.0 26.0    
Liabilities PHP mil                                             321,122 377,061 404,774 457,932 459,060    
Interbank Borrowing PHP mil                                       ... ... ... ... 38,345 ... ... 16,002    
Customer Deposits PHP mil                                             246,757 297,853 315,761 342,362 353,077    
Sight Deposits PHP mil                                             10,568 28,448 32,197 44,311 42,053    
Term Deposits PHP mil                                             236,189 269,405 283,564 298,051 311,024    
Issued Debt Securities PHP mil                                             58,927 24,867 73,206 98,704 74,010    
Subordinated Debt PHP mil ... ... ... ... ... ... ... ... ... ... ... ... ...                   10,987 0 9,921 9,936 9,952    
Other Liabilities PHP mil                                       ... ... ... ... 15,996 ... ... 15,971    
asset quality                                                          
Non-Performing Loans PHP mil ... ... ... ... ... ... ... ... ... ... ...         ...       ...     3,491 2,499 2,636 2,305 3,065    
Gross Loans PHP mil                                       ...     217,058 253,497 268,031 306,159 293,542    
Total Provisions PHP mil                                       ...     14,324 7,575 6,457 7,040 7,411    
growth rates                                                          
Customer Loan Growth % ...                                           3.13 21.3 6.36 14.4 -4.34    
Retail Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   26.8 239 31.8 31.6 286    
Mortgage Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 81.7 31.6 ... ... ...
Consumer Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... -100 ... ... ... ...
Total Asset Growth % ...                                           5.45 15.9 8.54 12.7 0.994    
Shareholders' Equity Growth % ...                                           13.5 4.27 18.6 9.41 6.89    
Customer Deposit Growth % ...                                           -3.34 20.7 6.01 8.42 3.13    
market share                                                          
Market Share in Customer Loans % ... ... ... ... ... ... ... ... ... ... ... ... ... ...                 5.90 6.02 5.12 5.17 4.23   ...
Market Share in Consumer Loans % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 15.7 ... ... ... ... ...
Market Share in Mortgage Loans % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...   ... ... 10.5 15.2 17.9 ... ... ...
Market Share in Total Assets % ... ... ... ... ... ... ... ... ... ... ...                       5.37 4.91 4.68 4.80 4.27   ...
Market Share in Customer Deposits % ... ... ... ... ... ... ... ... ... ... ...                       5.31 4.92 4.64 4.58 4.02   ...
ratios Unit 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ratios                                                          
ROE % ...                                           15.4 12.1 9.01 9.18 6.74    
ROA % ...                                           1.75 1.35 1.00 1.05 0.782    
Costs (As % Of Assets) % ...                                           3.77 3.68 3.24 3.10 3.30    
Costs (As % Of Income) %                                             59.5 63.3 64.5 68.2 75.3    
Capital Adequacy Ratio % ... ... ... ... ... ... ... ... ... ... ...     ... ...               17.6 16.5 15.4 15.7 16.2    
Tier 1 Ratio % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...             13.2 16.0 11.8 12.6 12.9    
Net Interest Margin % ...                                           3.21 3.39 3.40 3.25 3.12    
Interest Spread % ...                                           2.95 3.21 3.25 3.09 2.93    
Asset Yield % ...                                           5.29 4.79 4.59 4.47 4.55    
Cost Of Liabilities % ...                                           2.34 1.58 1.34 1.38 1.62    
Payout Ratio %                                             16.5 24.0 17.4 19.7 0    
Interest Income (As % Of Revenues) %                                             50.7 58.2 67.8 71.4 71.2    
Fee Income (As % Of Revenues) %                           ... ...               10.6 11.8 11.8 17.0 15.2    
Other Income (As % Of Revenues) %                           ... ...               38.7 30.0 20.4 11.6 13.6    
Cost Per Employee USD per month ... ... ... ...   ... ... ...               ...             2,004 1,977 3,053 2,120 2,193   ...
Cost Per Employee (Local Currency) PHP per month ... ... ... ...   ... ... ...               ...             84,581 83,924 136,048 97,394 106,314   ...
Staff Cost (As % Of Total Cost) %                                             27.4 25.5 43.7 31.3 31.6    
Equity (As % Of Assets) %                                             11.8 10.6 11.6 11.3 11.9    
Loans (As % Of Deposits) %                                             82.2 82.6 82.8 87.4 81.0    
Loans (As % Assets) %                                             55.7 58.3 57.1 58.0 54.9    
NPLs (As % Of Loans) % ... ... ... ... ... ... ... ... ... ... ...         ...       ...     1.61 0.986 0.983 0.753 1.04    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... ... ... ... ...         ...       ...     410 303 245 305 242    
Provisions (As % Of Loans) %                                       ...     7.07 3.08 2.47 2.35 2.59    
Cost of Provisions (As % Of Loans) % ...                                           1.25 0.916 0.989 0.838 0.605    
other data Unit 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
other data                                                          
Branches ... ... ... ... ... ... ... ... ... ... ... ...   ... ... ... ... ... ...       399 407 449 456 481    
Employees ... ... ... ...   ... ... ...               ...             3,606 3,667 3,813 4,048 4,239   ...
ATMs ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 1,342 1,488    
Sight (As % Of Customer Deposits) %                                             4.28 9.55 10.2 12.9 11.9    
Risk-Weighted Assets PHP mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...             281,622 305,920 338,949 388,804 386,663    
Return on Loans % ...                                           3.12 2.37 1.74 1.82 1.39    
Operating Profit (As % of Loans) % ...                                           4.56 3.75 3.09 2.51 1.91    
Costs (As % Of Loans) % ...                                           6.69 6.45 5.61 5.38 5.84    
Equity (As % Of Loans) %                                             21.2 18.2 20.3 19.4 21.7    

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RCBC's price/earnings (P/E) fell 27.1% yoy to 6.87 in 3Q2019

By Helgi Analytics - February 20, 2020

RCBC stock traded at PHP 26.5 per share at the end third quarter of 2019 implying a market capitalization of USD 1,151 mil. Since the end of 3Q2014, the stock has depreciated by -47.5 % implying an annual average growth of -12.1 %. In absolute terms, the value of the ...

RCBC's market capitalisation (end of period) rose 26.9% yoy to USD 1,151 mil in 3Q2019

By Helgi Analytics - February 20, 2020

RCBC stock traded at PHP 26.5 per share at the end of third quarter of 2019 implying a market capitalization of USD 1,151 mil. Over the last five years, the stock has depreciated by 47.5 implying an annual average growth of -12.1% In absolute terms, the v...

RCBC's customer loan growth fell 5.66% yoy to 9.47% in 3Q2019

By Helgi Analytics - February 20, 2020

RCBC's customer loan growth reached 9.47% in 2019-09-30, down from 10.0% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 43.9% in 2013-12-31 and an all time low of -13.1% in 2012-12-31. In the last decade, ...

RCBC's equity (as % of assets) fell 7.24% yoy to 12.6% in 3Q2019

By Helgi Analytics - February 20, 2020

RCBC's Equity reached 12.6% of total assets in the 3Q2019, down from 13.6% for the previous year. As a share of net customer loans, the ratio amounted to 22.3% at the end of the third quarter of 2019. ...

RCBC's capital adequacy ratio rose 11.1% yoy to 16.1% in 2Q2019

By Helgi Analytics - February 20, 2020

RCBC's capital adequacy ratio reached 16.1% at the end of second quarter of 2019, up from when compared to the previous quarter. Historically, the bank’s capital ratio hit an all time high of 22.6% in 1Q2014 and an all time low of 13.8% in 2Q2014. The Tier 1...

RCBC's npls (as % of loans) fell 10.9% yoy to 1.19% in 4Q2018

By Helgi Analytics - March 4, 2020

RCBC's non-performing loans reached 1.19% of total loans at the end of 2018-12-31, down from 1.33% compared to the previous year. Historically, the NPL ratio hit an all time high of 23.3% in 2004-12-31 and an all time low of 0.753% in 2015-12-31. Provision ...

RCBC's net profit rose 7.12% yoy to PHP 4,268 mil in 2018

By Helgi Analytics - February 20, 2020

RCBC made a net profit of PHP 4,268 mil under revenues of PHP 26,481 mil in 2018, up 7.12% and 5.80% respectively compared to the previous year. Historically, the bank’s net profit reached an all time high of PHP 6,220 mil in 2012 and an all time low of PHP 261 mil i...

RCBC's npls (as % of loans) fell 10.9% yoy to 1.19% in 2018

By Helgi Analytics - February 20, 2020

RCBC's non-performing loans reached 1.19% of total loans at the end of 2018, down from 1.33% compared to the previous year. Historically, the NPL ratio hit an all time high of 23.9% in 2003 and an all time low of 0.753% in 2015. Provision coverage amounted ...

RCBC's net interest income rose 13.3% yoy to PHP 20,678 mil in 2018

By Helgi Analytics - February 20, 2020

RCBC generated total banking revenues of PHP 26,481 mil in 2018, up 5.8% compared to the previous year. Historically, the bank’s revenues containing of interest, fee and other non-interest income reached an all time high of PHP 26,481 mil in 2018 and an all tim...

RCBC's price/earnings (P/E) fell 43.5% yoy to 11.0 in 2018

By Helgi Analytics - February 20, 2020

RCBC stock traded at PHP 28.5 per share at the end 2018 implying a market capitalization of USD 1,053 mil. Since the end of 2013, the stock has depreciated by -28.0 % implying an annual average growth of -6.37 %. In absolute terms, the value of the company fell ...

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