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Article: RCBC eyes loan growth as firms refinance debts
- Article from:
- The Manila Times
- Article date:
- July 1, 2009
- Author:
CopyrightCopyright Content Parnership Pty Ltd Jul 1, 2009. Provided by ProQuest LLC. (Hide copyright information)
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Rizal Commercial Banking Corp. (RCBC) said its loans would grow by double digits as more companies would be borrowing to pay down debts amid a low interest rate environment, a bank executive said.
"As we prepare this year for a recession, we are looking at a 20-percent growth [for RCBC loans]," Lorenzo Tan, RCBC president said.
He said this growth would be supported by the increasing demand for corporate financing.
"Companies are refinancing for debt [payments] as interest rates are so low, so it moved from one bank to another," he said
Despite that, RCBC would be focusing on boosting its consumer lending, Lorenzo said.
RCBC reduced its corporate loans to 30 percent from 60 percent ...