Rizal Commercial Banking Corp. (RCBC) is stepping up its consumer lending offerings as more Filipinos move toward electric and hybrid vehicles, driven by rising fuel costs, growing environmental awareness, and an expanding selection of models at more accessible price points.
RCBC Head of Consumer Lending Atty. Ramil De Villa said RCBC’s electric vehicle (EV) loan portfolio has more than quadrupled in three years, with the total financing crossing P7 billion as of March 2026.
New EV loans continued to rise, with loan bookings in the first three months of 2026 surpassing the full-year level in 2025.
De Villa said the bank has seen BYD and Tesla rapidly emerge as top contributors to its electric vehicle (EV) loan portfolio, reflecting a broader shift in borrower preference toward cleaner, more fuel-efficient vehicles.
RCBC is among the first financial institutions chosen by Tesla as a preferred financing provider in 2024. Through this, the bank is able to offer exclusive privileges and tailored loan solutions for Tesla vehicles, enabling clients to access innovative and eco-friendly transportation with greater ease and flexibility.
De Villa said the flexible financing solutions and fast loan processing have helped position the Yuchengco-led bank as a go-to financing partner for Filipinos making the switch.
“Consumer lending remains committed to supporting Filipinos amidst evolving economic conditions, providing meaningful financial solutions that help them move forward with confidence and stability,” De Villa said.
Currently the 5th largest privately owned bank in the country, RCBC reaffirms its commitment to empowering individuals and families by continuously enhancing its lending solutions to be more accessible, responsive and attuned to the evolving customer needs. For more information on RCBC’s auto loans, visit https://www.rcbc.com/
