Rizal Commercial Banking Corporation (PSE:RCB)

Rizal Commercial Banking Income Statement

Financials in millions PHP. Fiscal year is January - December.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	61,051	49,407	34,970	31,900	33,909
Interest Income on Investments	18,032	16,882	10,865	5,211	3,043
Total Interest Income	79,083	66,289	45,835	37,111	36,952
Interest Paid on Deposits	31,108	28,035	10,057	4,059	5,288
Interest Paid on Borrowings	5,474	4,625	4,562	4,221	5,383
Total Interest Expense	36,582	32,660	14,619	8,280	10,671
Net Interest Income	42,501	33,629	31,216	28,831	26,281
Net Interest Income Growth (YoY)	26.38%	7.73%	8.27%	9.70%	17.49%
Trust Income	-	423	415	392	323
Income From Trading Activities	1,495	444	-37	863	6,084
Gain (Loss) on Sale of Assets	1,352	6,957	3,088	101	36
Gain (Loss) on Sale of Equity Investments	85	92	32	12	-94
Other Non-Interest Income	7,975	8,062	8,850	6,195	5,283
Total Non-Interest Income	10,907	15,978	12,348	7,563	11,632
Non-Interest Income Growth (YoY)	-31.74%	29.40%	63.27%	-34.98%	-13.77%
Revenues Before Loan Losses	53,408	49,607	43,564	36,394	37,913
Provision for Loan Losses	8,337	6,677	5,347	5,013	9,375
Revenue	45,071	42,930	38,217	31,381	28,538
Revenue Growth (YoY)	4.99%	12.33%	21.78%	9.96%	-1.85%
Salaries and Employee Benefits	8,059	7,150	6,563	6,371	6,626
Occupancy Expenses	7,271	6,627	5,945	5,840	5,743
Selling, General & Administrative	629	501	322	324	288
Other Non-Interest Expense	15,012	14,493	11,670	9,261	8,954
Total Non-Interest Expense	30,971	28,771	24,500	21,796	21,611
EBT Excluding Unusual Items	14,100	14,159	13,717	9,585	6,927
Asset Writedown	-282	-211	-359	-1,035	-
Legal Settlements	-830	-823	-600	-739	-434
Other Unusual Items	-	390	890	-	-
Pretax Income	12,988	13,515	13,648	7,811	6,493
Income Tax Expense	3,468	1,298	1,568	728	1,475
Earnings From Continuing Operations	9,520	12,217	12,080	7,083	5,018
Minority Interest in Earnings	-	1	-	-1	2
Net Income	9,520	12,218	12,080	7,082	5,020
Preferred Dividends & Other Adjustments	1,096	1,068	1,037	964	320
Net Income to Common	8,424	11,150	11,043	6,118	4,700
Net Income Growth	-22.08%	1.14%	70.57%	41.08%	-6.81%
Basic Shares Outstanding	2,420	2,198	2,037	1,979	1,936
Diluted Shares Outstanding	2,420	2,198	2,037	1,979	1,936
Shares Change (YoY)	10.10%	7.90%	2.93%	2.22%	-
EPS (Basic)	3.48	5.07	5.42	3.09	2.43
EPS (Diluted)	3.48	5.07	5.42	3.09	2.43
EPS Growth	-31.38%	-6.43%	75.36%	27.34%	-12.75%
Dividend Per Share	-	1.014	1.080	0.618	0.485
Dividend Growth	-	-6.11%	74.76%	27.42%	-12.77%
Effective Tax Rate	26.70%	9.60%	11.49%	9.32%	22.72%

Updated Feb 26, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.