MANILA, Philippines — Rizal Commercial Banking Corporation (RCBC) has added another achievement to its ever-growing roster of laurels with the recognition and inclusion of its President and Chief Executive Officer (CEO) Eugene S. Acevedo in the ‘People of the Year 2024’ list by renowned publication People Asia.
Dubbed as "The Consummate Banker" in the magazine feature, Acevedo was the only Philippine banker included in the list for championing the financial inclusion efforts and digital expansion of the bank.
Under the seasoned banker’s leadership, RCBC emerged as the fastest growing bank in the country, jumping from eighth position in 2018 to fifth in 2022 in the list of the Philippines’ largest privately owned banks in terms of assets.
In the interview with People Asia, the RCBC executive highlighted the bank’s advocacy to make banking accessible and relevant to millions of Filipinos in underserved and unbanked segments of Philippine society. RCBC strongly supported Bangko Sentral ng Pilipinas’ vision of onboarding 70% of adult Filipinos and digitizing 50% of retail payments by the end of 2023.
The CEO and President shared that the bank has been throwing its support behind micro, small, and medium enterprises through its recently launched RCBC Boz mobile application. The latest digital solution from the fastest growing bank in the Philippines, it provides a wide array of services to support budding entrepreneurs in building their businesses, including payables, payrolls, and receivables. In addition, Acevedo shared that the bank has been working tirelessly to make loans and credit accessible to entrepreneurs, as Filipinos often face high barriers of entry into traditional formal loaning and credit systems.
Acevedo further stressed how RCBC ATM Go, a platform of almost 6,000 mobile devices servicing 100% of all provinces nationwide, acts as a handheld ATM that facilitates withdrawals, deposits, and bills payments, among many other banking services. RCBC ATM Go is part of RCBC’s Barangayan Banking, providing convenient and relevant digital solutions for communities that suffer limited digital penetration.
The bank has also embarked on a tremendous sustainability venture by not only focusing on marginalized groups for financial access but also being the first Philippine bank to divest from coal towards cleaner energy alternatives.
One of the achievements that Acevedo centered on is the much-coveted Asiamoney recognition as the Philippines’ Best Bank for Digital Award, which RCBC has consecutively clinched in the past four years. Among over 100 noteworthy distinctions received by RCBC was being the Grand Champion for Digital Payments and Financial Inclusion by the Bankers Institute of the Philippines, the Eye on Innovation Award by Gartner, YouTube Challenger Award for its viral and out-of-the-box digital ad campaigns generating combined views of over 17 million, Asia Pacific Enterprise’s Inspirational Brand Award, and 3-peat recognition as Best Retail Bank by Global Banking and Finance.
"RCBC and RCBC bankers were capable of doing much more than what they get credit for. I was a believer right from the start. And we have shown indeed that we could,” Acevedo shared.
"All those qualitative and financial achievements confirm what I have always believed in: that RCBC bankers can compete with rivals in the industry," Acevedo added.
People Asia’s “People of the Year 2024” personalities are featured in the magazine’s December 2023-January 2024 issue. Joining RCBC's Acevedo in on the group cover are business heavyweights GT Capital Holdings Vice Chairman and Toyota Motors Philippines Chairman Alfred Ty, Volvo Philippines President and CEO Atty. Albert Arcilla, Shell Pilipinas Corp. President and CEO Lorelie Osial, and Grab Philippines country head Grace Vera Cruz.