Rizal Commercial Banking Corporation - updates

Rappler's latest stories on Rizal Commercial Banking Corporation

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

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

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

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

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

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

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

RCBC president and CEO Lorenzo Tan resigns

May 06, 2016 - 6:35 PM

He resigned to give the Board a free hand in directing the course of the Bank’s future RCBC says in a statement

SENATE PROBE. RCBC president and CEO Lorenzo Tan attends the Senate probe into the stolen Bangladesh Bank funds in March. 2016. Photo by LeAnne Jazul/Rappler

Senate probe into Bangladesh Bank fund heist resumes May 17

May 05, 2016 - 8:15 PM

Meanwhile the Bangladesh Bank chief and the head of the Federal Reserve Bank of New York will meet with SWIFT executives next week

CROSS-EXAMINE. Phone records of Kim Wong (L), Maia Santos Deguito (C), and PhilRem's Salud Bautista (R). Photo of Deguito by Mark Cristino/EPA

Kim Wong completes turnover of $15M to AMLC

May 04, 2016 - 7:05 PM

Amid legal battles casino junket agent Kim Wong keeps his promise to return some of the stolen funds in his possession

DIFFICULT TIMES. As most of his personal and corporate accounts were frozen, Kim Wong (front) says doing business has been difficult. Salud Bautista of PhilRem (back) during the continuation of the Blue Ribbon Committee hearing. Photo by Alex Nueva Espana/Senate PRIB

RCBC treasurer quits amid probe into $81-M Bangladesh bank heist

Apr 21, 2016 - 3:29 PM

RCBC says Raul Victor Tan resigned out of decency and honor and despite his lack of involvement in the scandal because of command responsibility Former branch manager Maia Deguito worked under him

AMLC begins bid to seize assets linked to $81M bank heist

Apr 19, 2016 - 7:55 PM

The Anti Money Laundering Council s first civil forfeiture case is against casino junket agent Kim Wong with more cases to come

MORE TO COME. 'We will do it by batch,' AMLC's Bacay-Abad says when asked when will it also file cases on casinos' assets. Photo by Alecs Ongcal/Rappler

Notary public denies signing affidavit of PhilRem messenger

Apr 19, 2016 - 3:49 PM

In his 7 years working as a PhilRem messenger Mark Raymond Palmares says the transaction related to the 81 million stolen funds from the Bangladesh Bank account is the largest so far

SENATE PROBE. (Left to right) Mark Raymond Palmares, PhilRem messenger, and his bosses, Salud and Michael Bautista, attend the Senate hearing on the Bangladesh bank heist on April 19, 2016. Photo by Chrisee dela Paz/Rappler

Kim Wong returns another P200M to AMLC for safekeeping

Apr 19, 2016 - 12:34 PM

Kim Wong s camp returns a total of 9 8 million of the stolen funds played in Eastern Hawaii Leisure

RETURNED FUNDS. Kim Wong's company Eastern Hawaii got hold of P1 billion or $21.575 million of the stolen funds. Photo by Mark Cristino/EPA

WATCH: Senate hearing on $81-M Bangladesh bank heist, Day 6

Apr 19, 2016 - 11:00 AM

Watch the recording of the 6th Senate hearing on the money laundering scandal on Tuesday April 19 at 10:30 am

RCBC: SWIFT messages from Bangladesh Bank 'vague,' 'not urgent'

Apr 12, 2016 - 1:46 PM

UPDATED The requests from the Bank of Bangladesh were not priority Some were even vague RCBC s Maria Cecilia Estavillo says

Photo by Alecs Ongcal/Rappler

WATCH: Senate hearing on $81-M Bangladesh bank heist, Day 5

Apr 12, 2016 - 8:26 AM

Watch the recording of the 5th Senate hearing on the money laundering scandal

RCBC's Tan sues Deguito, seeks P32M in damages

Apr 11, 2016 - 10:00 PM

RCBC president on leave Lorenzo Tan files charges against sacked branch manager Maia Santos Deguito over the Bangladesh Bank controversy

HEAD TO HEAD. Lorenzo Tan (L) files charges against Maia Santos-Deguito (R), accusing the ex-RCBC branch manager of libel and false testimony

SWIFT on $81M bank heist: Our system wasn't breached

Apr 07, 2016 - 4:55 PM

A SWIFT official says it is the responsibility of member banks to ensure there is nothing wrong in their payment transactions

NO LIABILITIES. SWIFT says it is not liable for the $81-million financial crime involving Bangladesh Bank and the Philippine financial system. Image from Wikipedia

PODCAST: Money-laundering calls for an ‘007-type’ of probe

Apr 06, 2016 - 4:00 PM

Former finance secretary Roberto de Ocampo proposes an international probe on the 81 million stolen by hackers

WATCH: Senate hearing on $81-M Bangladesh bank heist, Day 4

Apr 05, 2016 - 11:30 AM

Watch here the recording of the 4th Senate hearing on the money laundering scandal Tuesday April 5 at 10:30 am

7 banks extend operating hours to help decongest ports

Apr 04, 2016 - 5:30 PM

These banks are Deutsche Bank Security Bank Asia United Bank Metrobank RCBC BDO and EastWest

EXTENDED HOURS. The Bureau of Customs says it is already seeing faster movement within ports in terms of released shipments over the weekends