THE SUPREME COURT (SC) has denied the motion for reconsideration filed by a local foundation seeking to revive fraud accusations against current and former officials of Rizal Commercial Banking Corp. (RCBC).

RCBC told the stock exchange on Wednesday that on Nov. 18, it received a notice dated July 28, 2025, in which the high court dismissed the appeal of Inang Nag-Aaruga sa Anak Foundation.

The ruling upheld a 2023 Court of Appeals decision that rejected the group’s motion for partial reconsideration, finding no liability on the part of the RCBC officials.

The foundation had accused the respondents of unsafe or unsound banking practices after a dismissed RCBC branch manager allegedly ran away with millions of the group’s funds.

In 2020, the group named several incumbent and former RCBC personnel in a complaint filed before the BSP’s Office of the General Counsel and Legal Services-Investigation and Prosecution Group (OGLS-IPG).

The BSP’s OGLS-IPG dismissed the case in 2021 for lack of evidence. The foundation then sought reconsideration, which was also denied.

RCBC shares closed at P25, up 1.21% or 30 centavos. — A.M.C. Sy

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