Rizal Commercial Banking Corporation (RCB) was originally incorporated on September 23, 1960 under the name Rizal Development Bank and began operations as a private development bank in the province of Rizal. The Company was acquired in 1962 by members of the Yuchengco Group of Companies, a financial services conglomerate with market presence in insurance and other risk management services. In 1963, RCB received approval from the Bangko Sentral ng Pilipinas to operate as a commercial bank and began operations under its present name. RCB acquired its universal banking license in 1989.
RCB offers commercial, corporate and consumer lending products, cash management products, treasury products, and remittance services. RCB also enters into forward currency contracts as an accommodation to its clients and as a means of managing its foreign exchange exposures. RCB and its subsidiaries are engaged in all aspects of traditional banking, investment banking, retail financing (auto, mortgage/housing loans, credit cards and microfinance loans), remittance, leasing, foreign exchange and stock brokering.
The Company's subsidiaries include RCBC Capital Corporation; RCBC Securities, Inc.; RCBC Savings Bank, Inc.; RCBC Forex Brokers Corporation; RCBC International Finance Limited; RCBC North America, Inc.; RCBC TeleMoney Europe S.p.a.; and RCBC Leasing and Finance Corporation.
As of December 31, 2018, RCB has 509 business centers, inclusive of 12 extension offices and supplemented by 1,593 automated teller machines.