Rizal Commercial Banking Corp. (RCBC) announced its move to establish a stand-alone trust corporation, with its affiliate House of Investment co-investing in this venture.
In a disclosure on Tuesday, the Yuchengco-led bank said its board of directors had approved its plan to spin off its trust and investments group into a stand-alone trust company.
Regina Capital Development Corp. head of sales Luis Limlingan told the Inquirer that the spin-off was a “statement that RCBC has solidly established its confidence in the said unit, envisioning the latter can achieve lucrative prospects more efficiently on its own.”
“RCBC’s trust and investment group has consistently performed well in…
Keep on reading: RCBC to spin off trust group into new firm