RCBC Executive Acevedo recognized in ‘People of the Year 2024’ list

RCBC President and CEO Eugene S. Acevedo Named People Asia’s “People of the Year 2024”

In a recent announcement, Rizal Commercial Banking Corp.’s (RCBC) president and CEO Eugene S. Acevedo has been recognized as one of People Asia’s “People of the Year 2024”. Acevedo was honored with the title “The Consummate Banker” in the Philippines for his dedication to championing financial inclusion efforts and digital expansion at the Yuchengco-led bank.

RCBC stated that under Acevedo’s leadership, the bank has experienced significant growth, moving from the eighth to the fifth position in the list of the Philippines’ largest privately owned banks in terms of assets. In an interview with People Asia, Acevedo emphasized RCBC’s commitment to making banking accessible to Filipinos, particularly to micro, small, and medium enterprises (MSMEs) through their recently launched RCBC Boz mobile application.

Acevedo also highlighted RCBC’s efforts to provide loans and credit to entrepreneurs, especially in the face of challenges in securing credit for small businesses. He mentioned that solutions like RCBC ATM Go and RCBC’s Barangayan Banking are part of the bank’s efforts to provide convenient and relevant digital solutions to communities with limited digital penetration.

RCBC has received numerous accolades, including ranking first in the Best Customer Service Survey 2023 by Statista, being recognized as the Philippines’ Best Bank for Digital by Asiamoney for the last four years, and winning the Eye on Innovation Award by Gartner, among other achievements.

Acevedo expressed his confidence in RCBC’s capabilities, stating, “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.”

As of end-September 2023, RCBC is the country’s sixth biggest bank, with total assets of P1.252 trillion. In the first nine months of 2023, the bank posted a net income of P9 billion, down 10.2 percent from the same period in 2022. This recognition comes at a time when the bank continues to demonstrate its commitment to growth and innovation in the financial industry.

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