Inward remittances to the Philippines remain robust, with RCBC Executive Vice President and Chief Innovation and Inclusion Officer Lito Villanueva expressing optimism despite persistent global economic challenges.
“The outlook of RCBC remains very positive, especially with the growing volume of inward remittances to the Philippines,” said Villanueva during the latest episode of The Chairman’s Report, hosted by Commission on Filipinos Overseas (CFO) Secretary Dante “Klink” Ang II.
“Our collaboration with the CFO is pivotal. It allows us to scale inclusive digital finance and deliver financial education to more Filipinos overseas—many of whom still lack access to responsive banking or financing,” he added.
According to the World Bank, the Philippines is the fourth-largest recipient of remittances globally, bringing in $38 billion in 2022. This inflow continues to play a role in sustaining households and fueling local economic activity. For CFO and RCBC, this also signals the need to ensure that every peso remitted is handled wisely and productively.
“Financial literacy is not just confined to our overseas Filipinos. We also need to educate their families in the Philippines. They need to understand that every dollar earned abroad comes from hard work and sacrifice,” Villanueva said.
As part of this mission, RCBC has intensified efforts to promote digital access to financial services, particularly for Filipinos abroad.
“We are one of the primary movers when it comes to providing digital access to banking services for overseas Filipinos. Programs like this must be supported because they spread awareness and enable better financial decisions,” he emphasized.
The CFO-RCBC partnership, formalized in February 2025, aims to improve access to financial tools and services for migrants and their families. Among the notable initiatives is BahAI, a real estate platform tailored to overseas Filipinos, especially those based in the United States, who are looking to invest in property back home. With geo-located verified listings and financing options provided by RCBC, the platform ensures secure, transparent, and scam-free transactions.
This initiative complements the Marcos administration’s Bagong Pilipinas campaign, which seeks to institutionalize inclusive development through whole-of-government collaboration and policy innovation.
Through platforms like The Chairman’s Report, the CFO continues to amplify the voices and concerns of the global Filipino community while pursuing long-term, high-impact solutions. With private-sector partners like RCBC, the Commission is ensuring that overseas Filipinos are not only connected to their families—but also empowered to shape their financial futures.
FULL VIDEO LINK TO THE SHOW:
https://www.facebook.com/share/v/1AM8vudeZL/
About the Commission on Filipinos Overseas
The Commission on Filipinos Overseas (CFO) is dedicated to the welfare and protection of Filipinos residing abroad long-term or permanently. The CFO has various initiatives that aim to link Filipinos back to the Philippines in order to facilitate cultural appreciation and provide an avenue for them to contribute to national development.
For more information, please contact the CFO via email address osec@cfo.gov.ph.
