RIZAL Commercial Banking Corp.'s (RCBC) credit card receivables rose to P74.7 billion in December last year, up 48 percent from the P50.4 billion a year earlier.

In a statement on Friday, the bank attributed the growth to a 45-percent surge in credit card spending, reaching P139.4 billion from P96.3 billion in 2022, along with the number of active credit cards rising to 1 million.

"We remain committed to enhancing the value we provide to our cardholders and partner merchants, and elevating customer experience through digital transformation initiatives," Arniel Vincent Ong, RCBC Credit Cards president and chief executive officer, said.

"While we experienced aggressive growth in 2023, we remain prudent in credit standards and ensure that we provide tools to help our cardholders better manage their finances," he added.

The bank said that it had launched travel fairs and new cardholder privileges to boost credit card use and also incorporated popular credit card features to its digital app, RCBC Pulz.

RCBC's share price was unchanged at P23 apiece on Friday.

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