RCBC TRUST Corp., the stand-alone trust and investment arm of listed Rizal Commercial Banking Corp. (RCBC), saw its assets under management (AUMs) rise by 14% year on year to P186 billion as of end-March.
However, its AUMs declined quarter on quarter from the P194.77 billion recorded at end-2024 “due to e-wallet outflows and a bearish equity market,” RCBC Trust President and Chief Executive Officer Robert B. Ramos said in a statement late on Wednesday.
“E-wallets are quite volatile. The funds come in and out often,” he said.
The trust company aims to increase its AUMs by 10-15% this year, with its growth plans focused on high net-worth individuals, institutional accounts, and services like estate planning and investment advisory.
RCBC Trust is looking to accelerate its digital shift, it said.
Part of these efforts include making unit investment trust fund (UITF) products accessible via the RCBC Pulz app for easier investment management onboarding.
“Clients want intuitive and seamless access. We are creating a digital investment boutique — whether you want corporate bonds, government securities, or time deposits, it should all be in one space,” Mr. Ramos said.
He added that they have observed increased interest in environmental, social, and governance (ESG)-related investments.
RCBC Trust’s net earnings jumped by 82% year on year in the first quarter, with growth driven by its service upgrades, institutional mandates, and digital investment tools.
Return on equity improved to 54% as of end-March from 41% a year prior, while its operating profit margin climbed to 29% from 21%.
The standalone trust unit’s revenues rose by 24% in the period, which it said was driven by “rigorous investment management accounts (IMA) and retirement fund mandates.”
The improved financial performance came on the back of “improved client service, particularly in the stock transfer operations,” Mr. Ramos said.
RCBC Trust began operating in January 2024 after its listed parent bank spun off its trust group’s into a stand-alone company.
Its parent RCBC’s attributable net income rose by 10.26% year on year to P2.43 billion in the first quarter.
Its shares rose by 30 centavos or 1.19% to close at P25.45 apiece on Thursday. — A.M.C. Sy