RIZAL COMMERCIAL Banking Corp. (RCBC) saw its transactions conducted through automated teller machines (ATMs) rise in the first half of 2023 as cash remained in high demand.

The bank recorded a 20% increase in transaction volume for non-RCBC cardholders at an additional five million in the first six months of the year, the Yuchencgo-led bank said in a statement on Saturday.

The bank added that the growth was due to the bank’s “growing customer base and widespread national reach.”

Meanwhile, international withdrawals surged by 74%, translating to an additional 139,000 transactions and contributing to a 22% increase in fee revenue.

“Our ATM transaction numbers have grown in double-digits for both RCBC and non-RCBC account holders using our ATMs. Moreover, we have observed a threefold increase in the utilization of RCBC ATMs by international cardholders,” said RCBC Retail Cash Management Segment Head Alvin Perez.

As cash transactions remain in demand, Mr. Perez said the bank will continue its strategy of targeting high-usage and high-traffic areas for ATM deployments.

“We are particularly focused on transport hubs and tourist spots, recognizing their role as cash-intensive, high-traffic zones for both domestic and international usage. In addition, RCBC’s diligent ATM management efforts have led to outstanding ATM uptime, resulting in 99% online availability of our ATMs,” he said.

As of July 2023, RCBC’s branch and ATM count nationwide reached 441 and 1,423, respectively.

RCBC saw its attributable net income decline by 35.33% year on year to P2.58 billion in the second quarter as the bank’s expenses grew more than its earnings.

This brought its attributable net income for the first half to P6.22 billion.

The bank’s shares finished unchanged at P23.50 apiece on Monday. — Aaron Michael C. Sy