RCBC - updates

Rappler's latest stories on RCBC

ARTICLE FINDER

RCBC system maintenance to start 10 pm on July 19

Jul 16, 2019 - 1:45 PM

Banking services will be unavailable during RCBC's system maintenance from 10 pm on Friday, July 19, to 10 pm on Saturday, July 20

New RCBC president gears up for bank's digital shift

Jul 10, 2019 - 8:15 PM

Eugene Acevedo, a veteran banker and technology advocate, now leads RCBC

RCBC exec denies Enrique Razon in talks for Hanjin takeover

Jun 25, 2019 - 10:05 PM

'I never met [Enrique Razon] so I don't know what he's talking about,' says an executive of RCBC

DOJ files money laundering cases vs RCBC execs

May 22, 2019 - 4:20 PM

RCBC says it is 'confident' that its officers 'will be vindicated' since its own probe found that they were not aware of the alleged money laundering

In defense of the credit card

Mar 25, 2019 - 11:03 AM

Credit cards aren’t as bad as you think. Three young professionals tell us why

RCBC files defamation charges vs Bangladesh Bank

Mar 12, 2019 - 9:00 PM

After Bangladesh Bank filed a case against RCBC in February, the Yuchengco-led bank fights back with a defamation lawsuit

The logo of the RCBC bank is seen at the RCBC building in Manila's financial district on March 11, 2016. - A Philippine bank said it is investigating an 81 million USD deposit after Bangladesh accused Chinese hackers of stealing from a US account and illegally moving the funds online to the Philippines and Sri Lanka. (Photo by NOEL CELIS / AFP)

U.S. Federal Reserve assists Bangladesh over cyberheist case vs RCBC

Feb 02, 2019 - 6:47 PM

'This agreement demonstrates that the New York Fed and Bangladesh Bank are aligned in the pursuit of recovering the funds and directing litigation against those who were complicit in or benefitted from the fraud,' says the US Federal Reserve Bank and Bangladesh's central bank

CENTRAL BANK. A cornerstone in the Federal Reserve Bank of New York building is seen on July 29, 2011 in New York City. Andrew Burton/Getty Images/AFP

Bangladesh sues RCBC over $81-M cyberheist

Feb 01, 2019 - 8:22 PM

RCBC dismisses the suit as a 'political stunt'

Labor group pushes for policy review after Hanjin bankruptcy

Jan 13, 2019 - 1:25 PM

Hanjin Heavy Industries and Construction Corporation, which filed for bankruptcy, owes $400 million to local banks and another $900 million to South Korean lenders

Poe to sue Jacinto if he insists on cell tower duopoly plan | Evening wRap

Jan 10, 2019 - 8:38 PM

Watch Rappler’s evening newscast with Marguerite de Leon

Net income of RCBC surges to P4.3 billion in 2017

Feb 13, 2018 - 2:23 PM

RCBC president and chief executive officer Gil Buenaventura says the listed lender is ready to make the most of the favorable business environment this 2018

RCBC eyes lawsuit against Bangladesh Bank over heist claims

Feb 08, 2018 - 3:00 PM

This comes after the Bangladesh central bank's announcement that it would sue the listed Philippine bank over alleged involvement in the $81-million cyber heist

RCBC to increase capital stock from P16B to P28B

Jan 30, 2018 - 4:28 PM

The bank says this will be done by increasing common shares to 2.6 billion from 1.4 billion

RCBC accuses Bangladesh central bank of cover-up

Dec 12, 2017 - 6:25 PM

The Rizal Commercial Banking Corporation says Bangladesh Bank is 'maligning RCBC and refusing to divulge its findings' on the $81-million heist

RCBC: No talks with BDO, BPI on merger, sale of majority stake

Oct 27, 2017 - 2:03 PM

All 3 banks have moved to quash rumors fueled by RCBC’s rising stock in recent months

Security Bank, RCBC add anti-fraud measures to debit cards

Sep 18, 2017 - 10:40 PM

Both banks add a remote lock/unlock feature to guard against unauthorized transactions

DOJ clears Philrem officials in Bangladesh Bank heist

Sep 07, 2017 - 10:35 PM

But the Department of Justice junks the appeal of former RCBC branch manager Maia Deguito who faces money laundering charges

CLEARED. Philrem president Salud Bautista appears before a Senate hearing in 2016 and claims she was instructed by RCBC-Jupiter branch manager Maia Deguto to convert and transfer stolen funds. Photo by LeAnne Jazul/Rappler

BSP moves to strengthen banks' governance

Aug 22, 2017 - 5:58 PM

The central bank says the amendments to the BSP corporate governance guidelines raise the bar on the expectations from the board of directors and risk management systems of its supervised financial institutions

Uber suspension, Andy Bautista, new SC justice | Evening wRap

Aug 14, 2017 - 8:48 PM

Watch Rappler’s evening newscast with Acor Arceo

VACC starts impeachment case buildup vs Chairman Bautista

Aug 14, 2017 - 3:55 PM

The Committee on Justice of the House of Representatives will not accept any documents other than certified or original appended to impeachment complaints VACC tells the NBI in the letter

EMOTIONAL. Employees show their support to Comelec  chairman Andres Buatista during the weekly flag raising ceremony at the Comelec main office in Manila on August 14, 2017. Photo by Ben Nabong/Rappler

Net interest, fee-based earnings drive RCBC's income in 2nd quarter

Aug 11, 2017 - 10:55 AM

The bank s net income in the 2nd quarter of 2017 soars by 67 to P1 34 billion from the P806 million booked in the same period in 2016

Metrobank loses over P14B in market value amid fraud issue

Jul 23, 2017 - 11:15 PM

The stock of Metrobank was the biggest underperformer in the local bourse

REINFORCES COMMITMENT. George Ty (left) of Metrobank assures no customer has been affected in this incident. Photo by Alecs Ongcal/Rappler Photo by Alecs Ongcal/Rappler

Banking sector backs Metrobank to pull through P900 M fraud case

Jul 21, 2017 - 8:11 PM

The Bangko Sentral ng Pilipinas says Metrobank is well capitalized enough to deal with the situation although it will conduct an investigation into the bank’s internal controls

The quiet Yuchengco group

Jul 03, 2017 - 7:30 PM

There are reasons Yuchengcos are seldom quoted in news reports – even if there have been issues hounding their companies like the Pacific Plans estafa charges and RCBC Bangladesh Bank heist

CLOSED TO MEDIA. Barring access to the press is uncommon since most listed firms want to get their messages and plans out to the bigger audience outside their investor circles, mostly for prestige and attention. Yuchengco-led RCBC is one of the few exceptions. Rappler file photo

RCBC pays Bangladesh Bank heist fine in advance

May 23, 2017 - 8:20 PM

The listed bank fully settles its record P1 billion fine for non compliance with banking laws and regulations in connection with the 81 million Bangladesh Bank money laundering scandal

COMING CLEAN. The logo of the RCBC bank is seen at the RCBC building in Manila's financial district on March 11, 2016. The bank owned by the late taipan Alfonso Yuchengco launched numerous initiatives to reinforce its anti-money laundering (AML) framework. File photo by AFP

No merger? Henry Sy firm among top shareholders of RCBC

May 23, 2017 - 12:15 AM

A privately held company of the Sy family owner of China Bank and BDO Unibank has been buying shares of RCBC a Yuchengco led bank

Illicit financial flows in developing countries ‘persistently high’

May 02, 2017 - 7:16 PM

A recent finding from Global Financial Intergrity shows illicit financial flows amounted to at least 1 trillion of developing country total trade in 2014

The legend of Mariano Que

Apr 25, 2017 - 6:25 PM

In a way it is impossible to talk about Philippine medicine without mentioning Mariano Que Yet so little was known of the man who built Mercury Drug

PASSING. Founder of Mercury Drug, Mariano Que, passed away last week, as reported on the company's Facebook page on April 14, 2017.

Tycoon and diplomat Alfonso Yuchengco dies

Apr 16, 2017 - 10:35 PM

Yuchengco who also served as Philippine ambassador took the family insurance business and turned it into a financial powerhouse

RCBC chief counsel Estavillo quits

Nov 29, 2016 - 1:10 PM

RCBC announces the resignation of lawyer Maria Celia Fernandez Estavillo over a week after the Anti Money Laundering Council filed criminal charges against several RCBC officers

RESIGNATION. Estavillo is the lawyer who represents Rizal Commercial Banking Corporation (RCBC) in the $81-million Bangladesh Bank heist case. Photo by Alecs Ongcal/Rappler

AMLC files charges vs RCBC officers on Bangladesh Bank heist

Nov 22, 2016 - 6:31 PM

The former treasurer and 5 other officers and employees of listed Rizal Commercial Banking Corporation RCBC are charged for violating Republic Act 9160 or the Anti Money Laundering Act of 2001

CHARGES FILED. Philippine senators probe into the location of the stolen money and main players in the money-laundering case. Photo by Alecs Ongcal/Rappler

DOJ wraps up probe into laundering of Bangladesh bank money

Sep 02, 2016 - 9:09 AM

Assistant State Prosecutor Gilmarie Fe Pacamarra says a resolution may be issued this September

Alfonso Yuchengco steps down as RCBC honorary chair

Aug 31, 2016 - 11:41 AM

The 92 year old taipan is appointed RCBC chairman emeritus in recognition of his distinguished service

RETIREMENT. Taipan Alfonso Yuchengco retires as honorary chairman of RCBC but the board has approved his appointment as chairman emeritus 'in recognition of his distinguished service.' Alfonso Yuchengco's photo from RCBC official website

Duterte, RCBC manager, Abu Sayyaf | 12PM wRap

Aug 18, 2016 - 12:05 PM

Watch the 12PM wRap with Maria Ressa

Ex-RCBC manager linked to Bangladesh bank heist arrested for perjury

Aug 18, 2016 - 12:01 AM

Maia Santos Deguito claims that Lorenzo Tan the president on leave of the RCBC was the brains behind the laundering of 81 million that a syndicate stole online from Bangladesh central bank

DEGUITO. Maia Deguito, manager of the Rizal Commercial Banking Corp (RCBC) branch in Manila's financial district, gestures as she answers a question during a senate hearing in Manila on April 5, 2016. File photo by Noel Celis/AFP

P1B fine unlikely to weaken RCBC's financial profile - Fitch

Aug 09, 2016 - 8:45 PM

The P1 billion penalty is the largest ever imposed by the Bangko Sentral ng Pilipinas and is equivalent to about 20 of RCBC s 2015 net income

STABILITY. Fitch Ratings says RCBC will remain financially stable in the medium term despite the lender's involvement in the $81 million Bangladesh Bank heist

BSP fines RCBC P1B over Bangladesh heist

Aug 05, 2016 - 6:08 PM

RCBC says it will pay the fine in two equal tranches over a one year period P500 million upon approval by the BSP and P500 Million one year after

Bangladeshi officials assured of help in reclaiming laundered $15M

Aug 03, 2016 - 6:53 PM

John Gomes: This case involving about 15 million is pending but I think within one month they should be resolving that case and we will be getting back our money

JOHN GOMES. Bangladesh Ambassador to the Philippines John Gomes says after the Senate probe, the investigation on the Bangladesh Bank heist became quiet. Photo by Alecs Ongcal/Rappler

RCBC net income inches up

Aug 03, 2016 - 5:45 PM

RCBC s core income driven by its core businesses is firming up RCBC remains on track with its long term goals says Gil Buenaventura the bank s new president and CEO

CORE STRENGTH. Excluding the cyclical trading gains, RCBC's core income surged by 59% in the first half of 2016

RCBC reorganizes board after Bangladesh Bank heist scandal

Jul 26, 2016 - 9:05 PM

In the wake of the scandal RCBC strengthens its board of directors increasing the number of independent directors to 7 from the previous 4

AFTERMATH. In the wake of the Bangladesh Bank heist scandal, RCBC strengthens its board of directors. Rappler file photo

PH wins vs China, RCBC, Taylor Swift | 6PM wRap

Jul 12, 2016 - 7:37 PM

Watch Rappler’s 6PM newscast with Zak Yuson

RCBC admits wrong report to AMLC on businessman Antonio Tiu

Jul 12, 2016 - 12:29 PM

Saying the damage caused by RCBC s mistake is irreparable the businessman says he will not stop until justice is served against those who wrongly accused him and his companies

LEGAL BATTLE. Antonio Tiu (L) lodges perjury complaints against Julia Bacay-Abad (R) before the Department of Justice on April 29, 2016

Will Senate revive probe into Bangladesh Bank heist?

Jun 10, 2016 - 11:30 AM

The 16th Congress adjourns with no resolution to the probe into Bangladesh Bank s stolen millions

A REVISIT? Senate President Franklin Drilon says Bangladesh Bank heist resolution is now up to the 17th Congress. Photo by Alecs Ongcal/Rappler

BSP cancels registration of PhilRem, Werquick, Peso Remittance

Jun 01, 2016 - 5:45 PM

The cancellation stems from PhilRem s role in the elaborately planned 81 million Bangladesh Bank heist

'CLEANING HOUSE'. PhilRem owners Salud Bautista (C) and Michael Bautista (R) did not attend the last Senate hearing on the Bangladesh Bank money laundering scam. File photo by Alecs Ongcal/Rappler

RCBC names new officials after bank heist probe

May 31, 2016 - 5:12 PM

As the Senate probe into the bank heist ends the embattled bank appoints new key officials

MOVING ON. The appointment comes after The Bangko Sentral ng Pilipinas and the Senate Blue Ribbon Committee have completed investigations on the money laundering scandal

Party-list winners, bank heist probe, EgyptAir 804 | 12PM wRap

May 20, 2016 - 12:42 PM

Watch Rappler s 12PM newscast with Maria Ressa

Hard lessons learned as Senate ends bank heist probe

May 20, 2016 - 11:27 AM

Senators assure an upset Bangladesh Ambassador John Gomes that the money stolen from his government would be returned up to the last centavo as the Senate ends its probe on the grand money laundering scheme

LAST HEARING. Senate blue ribbon committee ends its two-month probe into the Bangladesh Bank fund heist on May 19. Photos by Chrisee Dela Paz/Rappler

Only Kim Wong keeps promise to sign waiver on phone records

May 19, 2016 - 7:05 PM

The Senate is unable to gain access to the phone records of sacked RCBC branch manager Maia Santos Deguito and PhilRem owner Salud Bautista

STONEWALLED. Senate was supposed to look into the phone records of Wong (C), Deguito (L), and Bautista (R) to clarify their contradictory testimonies on who had given orders on delivery of the stolen funds

PhilRem owners no-show in last Senate hearing on bank heist

May 19, 2016 - 5:35 PM

PhilRem has the lowest credibility among them all They are consistently inconsistent says Senator Guingona as the blue ribbon committee wraps up its probe

NO SHOW. PhilRem owners Salud Bautista (C) and Michael Bautista (R) did not show up at the last Senate hearing on Bangladesh Bank money laundering scam. Photo by Alecs Ongcal/Rappler

Gil Buenaventura is new RCBC president and CEO

May 16, 2016 - 5:56 PM

The 63 year old Development Bank of the Philippines chief will replace Lorenzo Tan as RCBC president and CEO starting July 1

NEW HEAD. Buenaventura, a seasoned banker, would become president and chief executive officer of RCBC starting July 1. Photo from DBP website