RCBC Retail Banking Bets on Distribution Strength and Data Science to Scale Growth

MANILA, PHILIPPINES - Rizal Commercial Banking Corporation (RCBC) has outlined its strategy for growth in the retail banking sector, placing heavy emphasis on branch-led distribution, cross-selling, and data-driven customer engagement.

According to RCBC's head of retail banking, Richard Lim, the bank is doubling down on a pragmatic approach that leverages traditional methods alongside cutting-edge technology. "Our model is built for scale," said Lim. "While other banks may centralise everything under retail, our setup uses the retail bank primarily as a distribution channel for a wide array of products—from loans to bancassurance."

RCBC's retail banking group operates 439 branches across the country, with about 92% reported profitable. The bank's branch footprint plays a pivotal role in both deposit mobilisation and cross-selling. RCBC is ranked fifth in total deposits in the Philippines and sixth in CASA as of December 2024, with a compound annual growth rate (CAGR) of 14.5% among its peers.

Cross-selling is a core strategy for RCBC, with the bank focusing on referrals through its branch network to differentiate itself from competitors. "Our ambition is to be the best in cross-selling—because that is when we become truly relevant to our customers," said Lim.

The use of data science is also a key competitive edge for RCBC, with algorithmic scoring models and predictive analytics powering its branch leads dashboard. This enables the bank to instill discipline and ensure every outreach - whether acquisition or engagement - is backed by data.

RCBC has launched several programmes to deepen client engagement, including the all-in-one "One Account" and SME-focused "Negosyo" account. While the bank acknowledges gaps in its current digital offerings, it is optimistic about structural improvements that will enable scale growth.

"Our goal is to break into the top four banks leveraging on retail banking by 2028," said Lim. "The strategy hinges not just on technology, but on disciplined execution across a distributed network."