RCBC to use recycled PVC in credit card production

RIZAL COMMERCIAL Banking Corp. (RCBC) will now use recycled polyvynil chloride (rPVC) plastic for its credit cards, it said on Sunday.

“As a bank, we are committed to ensuring we have a sustainable future. Our shift to the use of recycled plastics for credit card products is one among many steps we are taking towards this goal,” RCBC Credit Cards President and Chief Executive Officer Arniel Vincent B. Ong said in a statement.

The new rPVC credit cards are made of at least 80% recycled plastic.

RCBC began using rPVC for its credit cards in 2023, with 60% of new, renewed, and replaced credit cards made from recycled plastics. The bank said it is aiming to increase this share in the coming years.

RCBC added that it will use at least 2,250 kilograms of recycled plastics for its credit cards every year following the complete transition to the new material. This would be equivalent to the weight of up to two sedan cars.

The bank also previously embarked on a campaign to shift its credit card statements from paper to electronic means, with over 96% of all accounts currently enrolled in e-mail statements.

RCBC’s attributable net income rose by 1.14% to P12.218 billion in 2023 due to higher loans and deposits.

Its shares closed unchanged at P22.05 apiece on Friday. — AMCS