Rizal Commercial Banking Corp. (RCBC) said it plans to issue at least P3 billion conventional or sustainability fixed-rate bonds to support the bank’s plan to grow its assets and refinance maturing liabilities.

RCBC said in a disclosure Friday that the issue was part of a P100 billion bond program approved by its board on July 29, 2019.

The timing of the proposed issue will depend on RCBC’s requirements and market conditions.

In the third quarter, RCBC’s net profit rose 125% to P2.01 billion.

RCBC shares were unchanged Friday at P20.00. – Luisa Maria Jacinta C. Jocson