RCBC appoints Reyes as new president of thrift arm Rizal MicroBank
RIZAL COMMERCIAL Banking Corp. (RCBC) has appointed a new president for its thrift arm Rizal MicroBank, Inc.
The appointment of Ismael S. Reyes as Rizal MicroBank president was approved by the listed lender’s board of directors on July 29 and will take effect on Aug. 16, the Yuchengco-led bank said in a disclosure to the stock exchange on Tuesday.
Mr. Reyes is currently the Head of Retail Transformation of RCBC’s Retail Banking Group.
“Mr. Reyes has 37 years of professional experience mostly gained from the banking and financial industry. His expertise spans strategy development and marketing, product development and management, business development, cross selling, customer acquisition, relationship building and management, risk managements, and team productivity management,” RCBC said.
Rizal MicroBank was the 28th biggest thrift bank in the country in asset terms as of end-March with P1.67 billion, latest Bangko Sentral ng Pilipinas data showed.
Meanwhile, its parent RCBC saw its net income fall by 39.47% to P2.2 billion in the first quarter in the absence of a one-off gain from the sale of properties.
Its shares went up by 10 centavos or 0.45% to end at P22.10 apiece on Tuesday. — A.M.C. Sy
