A partner through change and extraordinary times

Six decades later, RCBC remains a trusted banking ally

The pandemic drowned out the sound of grinding metal as various industries practically came to a stop. The country’s gasping economy needed a resilient institution to pump life into its lungs, fuel to start the engines of industry, and grease to turn the wheels of industry again.

The banking industry was no match against the dark schemes of the COVID-19 pandemic. But the sector was resilient enough to protect the worst hit to the economy. No less than the world’s leading economists knew that the banking and financial sector could lay the foundation for rebuilding businesses and the broader economy during this difficult time.

“The fallout from COVID-19 continues to challenge and disrupt economies around the world, but the banking and capital markets sectors can help stabilize the ship,” declared the prestigious World Economic Forum (WEF).

Three major industry players were not spared from the ugly mud of the pandemic, but they rushed out of the mud with the help of a 60-year-old banking institution.

The Rizal Commercial Banking Corporation (RCBC) has supported and guided all types of companies, be they SMEs, emerging markets and industries in difficulty, in the most difficult moments. Some of its partners, who survived the Asian financial crisis of 1997 and the financial crisis of 2008, not only survived, but were even victorious.

Former President and National Director of Sojitz Philippine Corp., Daisuke Ojima, Executive Vice President and Chief Financial Officer of Atlas Fertilizer Corp. (AFC), Rolando Basco, Jr., and Sta. Nicandro Linao of Clara International Corp. recall how their experiences With RCBC over the years they cultivated relationships that could last a lifetime.

Achieve progress and growth with the right partner

Nichimen Corp. and Nissho Iwai Corp. have been in business for more than 50 years in the Philippines, merging in 2004 to establish Sojitz Philippines Corp. Combined, the two multinational trading companies aim to make Sojitz a high-caliber global company.

RCBC was one of the elements that allowed the smooth transition of the companies.

The Sojitz Group has been in the business of trade and logistics as well as non-ferrous chemicals for more than 50 years in the Philippines. In addition, it established its presence in the country through Sojitz Philippines Corp. in 2004. Published

“We have been committed to the Philippine market for over 60 years, and when I verified the history of our company, we started in the Philippines in 1908 with an abaca business,” said Ojima, former president and country manager of Sojitz Philippines Corp.

“RCBC has always been with us, supporting our businesses for more than 50 to 60 years. It not only supports Sojitz Philippines, but the entire Sojitz group of companies, ”he added.

While they are in the business of trade and logistics and non-ferrous chemicals, Ojima opened that the company only experiences difficulties in organizing the loading and unloading of products in ports dedicated to foreign ships. As they adjust to the new normal, he owes the company’s continued growth to the hard work of his people and partners, including RCBC. Sojitz continued to enjoy comprehensive services in areas such as foreign exchange (forex) and loan processing.

“We are very aware of the situation and there are some problems that we have to overcome. But I must mention that during the initial stage of the pandemic and the strict closures began, RCBC was very flexible and accommodating, ”he shared.

“Before the pandemic, we had to present physical copies of the documents for our transactions. But since not all of our employees could report to the office, RCBC presented us with flexible options, “he added.

Always reliable

Since 1957, Atlas Fertilizer Corp. (AFC) has been manufacturing various grades of fertilizers. It became a wholly owned subsidiary of Sojitz in 2004. The union combined AFC’s 57 years of local leadership in research and development with Sojitz’s excellent business acumen and highly regarded Japanese discipline.

As a trusted brand, the fertilizer company now serves millions of rice, sugar, corn and crop farmers in the country. In fact, he has created a mobile application where farmers can enter information such as the location of farms and the seeds that will be used to receive a specific recommendation on fertilization technology.

Atlas Fertilizer Corp. (AFC) has been manufacturing various grades of fertilizers since 1957. The company’s products have helped Filipino farmers maximize the yield of their plots of land, and AFC now serves millions of rice, sugar farmers , corn and crops in the country. Published

AFC and RCBC have been partners since 1968. The two have strengthened their relationship during the most difficult times.

“AFC had some difficulties in 1991, followed by the Asian financial crisis in 1997. Other banks left us, but RCBC stayed,” Basco said.

When Rolando Basco was appointed Executive Vice President and Chief Financial Officer, the first thing he did was open a line of credit with RCBC. “In my previous job, I had already dealt with the bank,” he confessed.

AFC, like other companies, was threatened by the pandemic. But he was optimistic that everything will improve with the help of his trusted partners like RCBC.

Rolando recalled that his logistics operations stalled at the beginning of the quarantine, especially because they were not classified as “essential.”

AFC imports from China and moves goods to different islands in the Philippines. Unfortunately, the routes and certain regulations were totally changed during the shutdown. But with COVID-19, the logistics processes got complicated. It required more follow-up and additional expenses.

“RCBC has always been there. It is a very reliable bank. They continue to support us even with past and present financial crises, ”he concluded.

Through thick and thin

Sta. Clara International Corp. (SCIC) humbly began her career in the construction industry in 1976. Now, she has ventured into the energy business.

Its president and president, Nicandro Linao, and his son Mike, believe that their association with RCBC was fundamental to the success of the company. Nicandro recalls that their relationship began in the early 1980s, even before automated payroll was introduced.

Back then, clearing checks at banks was time consuming. But with RCBC everything went fast, even opening accounts. And when SCIC broke into the majors, so to speak, the firm continued the relationship with RCBC.

Morong, Bataan. 25 MLD Water Treatment Plant, a project of Sta. Clara International Corp. (SCIC) completed in February 2020 under an EPC contract, supplies fresh and potable water to Subic Freeport (SBMA) and the City of Morong. SCIC is classified as a Quadruple A Company, the highest category awarded by the Construction Industry Authority of the Philippines (CIAP), the Board of Contractors Association of the Philippines (PCAB). It is one of the leading construction companies in the Philippines and has successfully ventured into the energy sector business. Published

“The construction business requires a partner, a good banking partner to back it up. During bidding, we need bond requirements, performance invoices, and performance bonds. And RCBC responds quickly to these types of requirements ”, he added.

Today, Sta. Clara is classified as a Quadruple A company, the highest category awarded by the Construction Industry Authority of the Philippines (CIAP), the Board of Contractors Association of the Philippines (PCAB). According to Nicandro, only a few of the many competing companies have reached such a position. They have also successfully forged partnerships and completed projects with major water concessionaires, retail stores, and more.

“I think that without RCBC, we would not have reached this point,” said the father of the company.

Despite the pandemic, the Linaos remain optimistic. Mike, an engineer by profession, will soon take the company to greater heights with his innovative ideas.

“I think we have a very good future despite what is happening now. We have very good partners like RCBC to support us. I see a very bright future ahead, especially in the construction industry, as there is still a lot to build. We are also an important player in the renewable energy sector; the future will be the use of renewable energy ”, he said.