Our journey to customer-centricity

2021 was clearly a year of recovery for RBS from the effects of the pandemic. The year allowed us to recalibrate our strategies, reestablish our roadmap, and build foundational initiatives to support growth for the coming years. Our next five years will be more about focus, quality of execution, and business growth.

In 2021, the WBS Relationship and Product teams effectively worked together to provide customer support during a period of pandemic uncertainty by leveraging on the strategic pillars to enhance relationships. One of the fundamental changes implemented in WBS was to incorporate the ecosystem mindset among its working groups—WBS’ collaboration with Retail Banking, Transaction Banking Group, Trade and Cash Management, Treasury FX, SB Capital, SB Rental, and SBM Leasing.

TAMG’s activities in the equity and Unit Investment Trust Fund (UITF) markets generated an 11% increase in gross revenues and a year-end posting of 162% in our Net Income After Taxes (NIAT) for the year. Our Fund Managers also delivered an excellent performance, ranking first out of five to seven Fund Managers. This return on investments and proactive client servicing resulted in our corporate and institutional clients topping up their accounts throughout the year.

For Treasury, 2021 was a year of digitalization and leveraging market rates based on data. As the challenges brought on by the pandemic continued, Treasury also saw unexpected movements far beyond the conventional, both in bond yields and FX rates. We managed these through strategic investment bonds that helped accrue the business, achieving net margin targets. We also ensured that our teams were well-equipped to support our customers with tools and expertise, as the FX and interest rate volatility induced them to conduct more hedging activities. Treasury worked closely with other segments to transform the FMS business in terms of balance sheet management and distribution of investment products.

ETO enables the Bank’s strategy through transformative programs in this digitally driven world. These initiatives leverage digital enablement, cloud technology, and distributed computing, driving quicker time to-market, and promoting efficient processes and controls. In 2021, ETO was driven by two key themes: the effective management of customer experience and the internal support to improve the processes of the business.

“2021 marked the fifth year of Security Bank’s collaboration with MUFG. The collaboration resulted in remarkable progress in several areas such as Retail Banking, Wholesale Banking, Governance, and CSR. These successes include RBS collaboration with digital unicorns invested in by MUFG/Partner Banks and support for strengthening retail credit management and WBS partnerships, facilitating business between Japanese and Philippine companies, and providing solutions on financial requirements during the pandemic.”
Takashi Takeuchi, Alliance Segment Head