{"id":235252,"date":"2019-10-20T06:11:05","date_gmt":"2019-10-20T10:11:05","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=235252"},"modified":"2025-01-18T21:11:01","modified_gmt":"2025-01-19T02:11:01","slug":"rcbc-exec-eyes-sustained-double-digit-loan-growth-this-year","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2019\/10\/20\/rcbc-exec-eyes-sustained-double-digit-loan-growth-this-year\/","title":{"rendered":"RCBC exec eyes sustained double-digit loan growth this year"},"content":{"rendered":"
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RCBC Consumer Lending Group head Rommel Latinazo said they are optimistic of the sustained robust performance of their consumer business. (File Photo By Judgefloro – Own work\/Wikimedia Commons, CC0<\/a>)<\/figcaption><\/figure>\n
MANILA<\/strong>\u00a0— A ranking official of Rizal Commercial Banking Corporation (RCBC) expects continued double-digit growth this year of consumer loans on the back of the decline of domestic interest rates.<\/div>\n
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RCBC Consumer Lending Group head Rommel Latinazo said they are optimistic of the sustained robust performance of their consumer business.<\/div>\n
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He said the decline of domestic interest rates is a plus since it will encourage more people to take loans.<\/div>\n
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\u201cWith the easing of rates demand should further grow,\u201d he said.<\/div>\n
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In 2018, the bank registered nearly 14-percent growth on consumer loans.<\/div>\n
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To date, the Bangko Sentral ng Pilipinas\u2019 (BSP) policy-making Monetary Board (MB) slashed the central bank\u2019s key rates by 75 basis points after hiking it by a total of 175 percent last year due to elevated inflation rate.<\/p>\n
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Despite an uptick to 3.2 percent last May from the previous month\u2019s 3 percent, domestic rate of price increases has slowed after peaking at 6.7 percent in September and October 2018.<\/div>\n
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Last September, it decelerated to 0.9 percent from 1.7 percent in the previous month.<\/p>\n
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Meanwhile, the bank\u2019s consumer loans, which include auto, mortgage and credit cards, totaled to around PHP120 billion in the first half of this year.<\/div>\n
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Latinazo said loan growth is expected to get a boost from the recently launched Auto and Home Plus, which provides borrowers an insurance coverage for their chosen product for the entire duration of the loan.<\/div>\n
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He said borrowers will find it easy to pay the insurance premium because it will be included in their monthly payments instead of one-time payment.<\/div>\n
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For existing RCBC auto loan customers, they may upgrade to this new product that will provide them one-year worth of car insurance.<\/p>\n
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Minimum loan for auto loan product is PHP500,000.<\/div>\n

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For Home Loan Plus, which comes with a fire insurance, minimum loan amount is PHP1 million.<\/div>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0— A ranking official of Rizal Commercial Banking Corporation (RCBC) expects continued double-digit growth this year of consumer loans on …<\/p>\n","protected":false},"author":44,"featured_media":235253,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-235252","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/235252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=235252"}],"version-history":[{"count":2,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/235252\/revisions"}],"predecessor-version":[{"id":285585,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/235252\/revisions\/285585"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/235253"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=235252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=235252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=235252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}