Rizal Commercial Banking Corporation (PSE: RCB)

Rizal Commercial Banking Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	58,537	49,407	34,970	31,900	33,909	32,646
Interest Income on Investments	18,258	16,882	10,865	5,211	3,043	4,932
Total Interest Income	76,795	66,289	45,835	37,111	36,952	37,578
Interest Paid on Deposits	31,236	28,035	10,057	4,059	5,288	8,626
Interest Paid on Borrowings	5,244	4,625	4,562	4,221	5,383	6,584
Total Interest Expense	36,480	32,660	14,619	8,280	10,671	15,210
Net Interest Income	40,315	33,629	31,216	28,831	26,281	22,368
Net Interest Income Growth (YoY)	27.96%	7.73%	8.27%	9.70%	17.49%	9.17%
Trust Income	117	423	415	392	323	323
Income From Trading Activities	831	444	-37	863	6,084	7,492
Gain (Loss) on Sale of Assets	4,016	6,957	3,088	101	36	109
Gain (Loss) on Sale of Equity Investments	92	92	32	12	-94	21
Other Non-Interest Income	6,051	8,062	8,850	6,195	5,283	5,545
Total Non-Interest Income	11,107	15,978	12,348	7,563	11,632	13,490
Non-Interest Income Growth (YoY)	-18.97%	29.40%	63.27%	-34.98%	-13.77%	124.61%
Revenues Before Loan Losses	51,422	49,607	43,564	36,394	37,913	35,858
Provision for Loan Losses	7,332	6,677	5,347	5,013	9,375	6,781
Revenue	44,090	42,930	38,217	31,381	28,538	29,077
Revenue Growth (YoY)	14.45%	12.33%	21.78%	9.96%	-1.85%	18.22%
Salaries and Employee Benefits	7,831	7,150	6,563	6,371	6,626	6,833
Occupancy Expenses	6,949	6,627	5,945	5,840	5,743	4,116
Selling, General & Administrative	691	501	322	324	288	1,465
Other Non-Interest Expense	14,715	14,493	11,670	9,261	8,954	9,031
Total Non-Interest Expense	30,186	28,771	24,500	21,796	21,611	21,445
EBT Excluding Unusual Items	13,904	14,159	13,717	9,585	6,927	7,632
Asset Writedown	-211	-211	-359	-1,035	-	-616
Legal Settlements	-804	-823	-600	-739	-434	-353
Other Unusual Items	390	390	890	-	-	-
Pretax Income	13,279	13,515	13,648	7,811	6,493	6,663
Income Tax Expense	3,878	1,298	1,568	728	1,475	1,275
Earnings From Continuing Operations	9,401	12,217	12,080	7,083	5,018	5,388
Minority Interest in Earnings	-	1	-	-1	2	-1
Net Income	9,401	12,218	12,080	7,082	5,020	5,387
Preferred Dividends & Other Adjustments	1,122	1,068	1,037	964	320	-
Net Income to Common	8,279	11,150	11,043	6,118	4,700	5,387
Net Income Growth	-14.95%	1.14%	70.57%	41.08%	-6.81%	24.70%
Basic Shares Outstanding	1,778	2,198	2,037	1,979	1,936	1,936
Diluted Shares Outstanding	1,872	2,198	2,037	1,979	1,936	1,936
Shares Change (YoY)	-29.37%	7.90%	2.93%	2.22%	-	17.62%
EPS (Basic)	4.66	5.07	5.42	3.09	2.43	2.78
EPS (Diluted)	4.57	5.07	5.42	3.09	2.43	2.78
EPS Growth	24.70%	-6.43%	75.36%	27.34%	-12.75%	6.02%
Dividend Per Share	1.014	1.014	1.080	0.618	0.485	0.556
Dividend Growth	-6.11%	-6.11%	74.76%	27.42%	-12.77%	24.66%
Effective Tax Rate	29.20%	9.60%	11.49%	9.32%	22.72%	19.14%

Source: S&P Capital IQ. Banks template. Financial Sources.