RCBC Trust’s AUM hits P161 billion in February

MANILA, Philippines — The trust and investment management arm of Yuchengco-led Rizal Commercial Banking Corp. saw its assets under management (AUM) hit more than P161 billion as of February, as the number of its institutional clients grew significantly.

Robert Ramos, president and CEO of RCBC Trust Corp., said the trust entity would likely surpass RCBC Trust and Investments Group’s record of P147.49 billion recorded in March 2023.

Ramos attributed the growth to the continued confidence of clients, amid the rising market share among electronic money issuers.

These are companies who have entrusted substantial investments ranging from P200 million to P1 billion into RCBC trust accounts.

“Additional services such as investment advisory and estate planning are now being offered by RCBC Trust Corp. We believe that these two services will be additional avenues of growth for the company,” Ramos said.

RCBC is looking to surrender its license to engage in trust and other fiduciary business as part of its efforts to make RCBC Trust Corp. a stand-alone trust entity. The bank has also changed its stock transfer agent to RCBC Trust.

RCBC Trust started operations in January this year and has engaged primarily in trust, other fiduciary business and investment management activities.

The company offers a comprehensive suite of services including the administration of unit investment trust funds, investment management accounts, retirement funds, corporate and institutional trust accounts, pre-need trust funds, personal management trusts, and mortgage or collateral trusts.

All accounts of the RCBC Trust and Investments Group have been transferred to RCBC Trust, the bank earlier said. The terms and conditions of the agreements covering these accounts, including the way they have been managed, will remain unchanged despite the transfer.