After the PSE’s latest free float-based review of all listed companies, RCBC was able to gain a slot in the 30-company index which is used as a major barometer of foreign investor confidence in the Philippine economy.

The PSE conducts a biannual review of the free floats of all publicly-listed corporations to ensure that the index continuously reflects the performance of the most heavily-traded companies.

RCBC President Lorenzo Tan said he considers the development both an opportunity and a challenge. "Our (RCBC’s) inclusion in the index shows the promise and dynamism of RCBC as a stock," he said.

Tan added that "it also poses a challenge for us to keep up with our growth pace and keep our investors excited with the bank." Last year proved to be highly auspicious for RCBC, which posted its highest net income on record of P3.2 billion last year.

During the same period, global investor outlook on the bank has been positive as confirmed by the ratings upgrades it received from international rating agencies Moody’s and Fitch.

Two capital raising exercises undertaken over the past 15 months also brought in fresh and new funding of P12 billion for the bank. Its inclusion in the PSEi was, therefore, expected.

The 30 companies chosen to be part of the PSEi are considered to be an elite group, whose stock prices can affect the market’s overall direction.