Makati—(PHStocks)—Rizal Commercial Banking Corp. (PSE: RCB) posted an unaudited consolidated net income of PhP2.61 billion for the first half of 2016, 3.3% higher than the PhP2.53 billion net income reported for the same period last year. Core income excluding the cyclical trading gains increased by 59%. Annualized Return on Equity and Return on Assets stood at 8.8% and 1.1%, respectively.
Total consolidated assets expanded by 6.7% year-on-year to PhP500.33 billion while capital funds was at PhP59.91 billion. The Bank’s CAR of 16.78% was over the BSP minimum requirement of 10% while Common Equity Tier 1 (CET1) ratio of 13.48% also exceeded the minimum CET1 ratio requirement (with capital conservation buffer) of 8.5%.