August 31, 2025 | 12:00am
MANILA, Philippines — Tokyo-based Sumitomo Mitsui Finance and Leasing Firm Ltd. (SMFL) has acquired a 30-percent stake within the leasing arm of Yuchengco-led Rizal Industrial Banking Corp. (RCBC), additional strengthening its presence within the Philippines.
The deal, finished via a third-party share issuance, combines SMFL’s international experience with the operations of RCBC Leasing and Finance Corp. (RLFC) and RCBC’s sturdy native community to capitalize on progress alternatives within the nation’s increasing financial system.
“This partnership brings collectively SMFL’s information and experience from its international presence with RLFC’s operations and RCBC’s native community to extra successfully capitalize on the assorted alternatives arising from the Philippines’ sturdy financial system,” the listed financial institution mentioned in a press release.
The transaction can also be consistent with the multi-franchise technique of Sumitomo Mitsui Monetary Group Inc. (SMFG), which is increasing in high-growth markets equivalent to India, Indonesia, Vietnam and the Philippines by establishing new enterprise bases.
In 2023, Sumitomo Mitsui Banking Corp. (SMBC), an entirely owned subsidiary of SMFG, raised its stake in RCBC to twenty % after buying a further 15 %.
Each SMFL and RLFC at the moment are working in the direction of finalizing definitive transaction agreements, topic to regulatory approvals.
RLFC was included in 1957 and operates monetary leasing and working leases nationwide, with workplaces in key cities throughout Luzon, Visayas and Mindanao.
For its half, SMFL is a number one monetary providers supplier in Japan and a joint affiliate of SMFG and Sumitomo Corp., providing leasing and financing options worldwide, together with specialised providers equivalent to plane and ship finance.