Filipinos are opening their wallets wider for holiday experiences, fueling a significant boom for Rizal Commercial Banking Corp.'s (RCBC) credit card business. The country's fifth-largest privately owned bank announced robust growth for the third quarter of 2025, driven by increased spending on travel, dining, and shopping.
Strong Growth in Cardholder Spending and Base
RCBC reported a substantial 32 percent year-on-year increase in issuing billings as of the third quarter of 2025. This surge in spending was complemented by a 37 percent rise in credit card receivables, clear indicators of resilient consumer confidence and sustained activity in the retail sector. The bank's customer base has also expanded markedly, now serving more than 1.4 million active cardholders, which is a 19 percent increase from the same period last year.
Experiential Spending and Digital Adoption Lead the Charge
The bank highlighted a clear consumer shift towards purchasing experiences, especially as the holiday season approaches. Transactions in the travel, dining, and e-commerce sectors are showing particularly sharp growth. Furthermore, purchases of electronics and gadgets are also rising, as shoppers eagerly take advantage of year-end sales and attractive installment promotions.
Digital innovation remains a cornerstone of this expansion. RCBC's digital acquisitions grew by an impressive 88 percent year-on-year. Features within the bank's app, such as Unli Installment and UnliPay, continue to see strong user engagement. Adding to its digital prowess, RCBC is among the first banks in the Philippines to support Mastercard and Visa cards on Google Pay, offering cardholders faster and more secure digital payment options.
Credit Cards Anchor Consumer Lending
This vigorous performance solidifies the credit card segment's role as the main engine of RCBC's consumer lending operations. The bank confirmed that its credit card portfolio contributes 39 percent to its total retail loans, making it the single biggest contributor. This growth mirrors a national trend, with the total card payments market in the Philippines projected to reach P4.2 trillion in 2025, an 18.8 percent increase from the previous year, propelled by greater financial inclusion and digital banking innovations.
