Robinsons Bank has been named as the Philippines’ Fastest Growing Commercial Bank at the 2020 Global Business Outlook Awards, securing this particular distinction for the second year running.
Presented annually since 2015 by Global Business Outlook, a UK-based trade and financial news publication, the awards recognize companies from both public and private sectors that exhibit “innovation, creativity, and the drive to create value.”
Last year, the bank was also recognized by the publication in two other categories for the Philippines. The Simplé Savings Deposit Account was selected as the Most Innovative Banking Product while its DOS Mastercard was named as the Most Innovative Credit Card product.
Robinsons Bank’s recent string of awards and industry-wide recognition can be directly attributed to “Roadmap 2020,” RBank’s long-term plan, which was unveiled in 2015 when Elfren Antonio S. Sarte assumed the dual role of president and CEO.
The bank’s remarkable growth in recent years is manifested in a number of areas. Driven by the 17% expansion in its gross loan portfolio in 2019, RBank registered Php 8.1 billion in revenue, an increase of 28% over the previous year. RBank's total net income in 2019 rose to Php 719.4 million, a 127% increase.
Aside from these metrics, RBank has also made great strides in improving its services and elevating the customer experience, according to the bank's president and CEO. “As we drive RBank towards a universal banking grade, we developed plans for an aggresive expansion to reach more clients. Our financial standing since the start of Roadmap 2020 continues to be on an uptrend—from an asset base of Php 47 Bn in 2014 to Php 131 Bn as of December 2019. We believe RBank has started to gain a more significant presence in the banking industry but our work does not stop here. We are continuously working on improving and providing more products because we believe that our customers’ needs are always changing, especially in these times,” said Sarte.
Expanding Products and Increasing Visibility
Early last year, RBank launched the IPONsurance®, an interest-earning deposit account that comes with free life insurance. Designed to provide Filipinos with better choices and a more affordable path towards a financially secure future, its coverage extends up to four times the account holder’s maintained average daily balance.
RBank also launched the Robinsons Cashback Card, a co-branded product with Robinsons Retail Holdings, Inc. Clients can earn up to 3% cashback when they shop using the Robinsons Cashback Card at RRHI-affiliated stores, and up to 1% cashback at non-affiliated merchants.
For clients’ ultimate convenience, RBank recently unveiled its RBank Sign Up product, where opening an account is a fully digital process. The app uses facial recognition and real-time ID detection (only one government-issued ID is required for presentation) for a hassle-free account opening experience. Clients can get their account details minutes after completing process—all done without ever having to visit a branch.
To complement this, RBank is further enhancing “RBank Digital,” its online banking platform, to ensure a convenient home-banking experience for its clients. Apart from standard online transactions such as fund transfers, balance inquiry, transaction history, and bills payment, users can now view their credit card transactions in real time and will soon be able to transfer funds through a QR code. At participating online stores, clients can even enjoy a “QuickR way” to pay, also done through QR.
Embracing the “New Normal”
Despite the challenges posed by the “new normal,” RBank continually enhances its products and services. It is also embracing digitalization even further to respond with greater agility and swiftness to the evolving needs of the customers.
Reassuring the bank’s clients, RBank Chairman Lance Gokongwei said, “We will navigate through these uncertain times and find new ways to deepen our relationship with you by providing services that will help strengthen your financial position.”
Putting customers at the heart of every product, RBank continues to provide financial solutions that empower every Filipino to dream big for their future.
Robinsons Bank is the financial services arm of JG Summit Holdings, Inc. It currently ranks 18th among universal and commercial banks in the country, with assets amounting to Php 131.088 Bn as of December 2019.
For inquiries and concerns, you may reach Robinsons Bank through its Customer Care Center at (02) 8637-CARE (2273) or domestic toll-free 1-800-10-637-CARE (2273); or visit its website at robinsonsbank.com.ph. Like them on Facebook at facebook.com/robinsonsbank and follow them on Twitter @RBankCorp for the latest promotions.