In a disclosure to the local bourse yesterday, the bank said this is part of the spinoff of its trust and investments group into a stand-alone trust company, which was first announced in November 2022.MANILA, Philippines — Rizal Commercial Banking Corp. is looking to surrender its license to engage in trust and other fiduciary business as part of its efforts to make RCBC Trust Corp. a stand-alone trust entity.
Services of RCBC Trust include the administration of unit investment trust funds , investment management accounts , retirement funds, corporate and institutional trust accounts, pre-need trust funds, personal management trusts and mortgage or collateral trusts. Yuchengco-led RCBC grew its net income by 1.1 percent to hit a record P12.22 billion in 2023 as customer loans went up by 15 percent to P622 billion, outpacing the industry average.
Vehicle sales accelerated by more than a fifth in February from a year ago, supported by automotive firms’ marketing...
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: gmanews - 🏆 11. / 68 Read more »