Sumitomo Mitsumi Finance and Leasing completes 30% stake acquisition in RCBC Leasing

Sumitomo Mitsui Finance and Leasing Co., Ltd. has closed its acquisition of a 30% stake in RCBC Leasing and Finance Corp. after clearing all regulatory approvals. The investment positions RLFC for expansion in sectors such as manufacturing, construction and renewable energy.

SUMITOMO MITSUI Finance and Leasing Co., Ltd. (SMFL) has completed its acquisition of a 30% stake in the leasing arm of Rizal Commercial Banking Corp. (RCBC) after securing the necessary regulatory approvals.

In a disclosure to the stock exchange on Thursday, RCBC said SMFL had satisfied all requirements, including obtaining approvals and permits from the relevant authorities, for its investment in RCBC Leasing and Finance Corp. (RLFC). With the completion of the transaction, RLFC is now an equity-method affiliate of SMFL.

RLFC President and Chief Executive Officer Jayson L. Mendoza said the investment would support the company’s expansion plans over the next three to five years. In particular, the company sees growth opportunities in manufacturing, construction, information technology, renewable energy, healthcare, logistics and auto leasing.

“This investment positions us well for the opportunities ahead and strengthens our capabilities that will drive our business forward,” Mr. Mendoza said.

The investment is also expected to help SMFL expand its business base in the Philippines by integrating its sales and management expertise with RCBC’s customer base and RLFC’s existing team and operations. The acquisition was first announced in August 2025, when SMFL entered into an agreement to purchase the stake through a third-party share issuance.

Before the transaction, RLFC was wholly owned by RCBC. It was incorporated in 1957 and is engaged in financial leasing and operating leases through its wholly owned subsidiary.

SMFL is a Japan-based financial services company jointly affiliated with Sumitomo Mitsui Financial Group, Inc. (SMFG) and Sumitomo Corp. Its services include asset and equipment leasing as well as specialized financing for aircraft and ships. Sumitomo Mitsui Banking Corp. (SMBC), a wholly owned subsidiary of SMFG, currently holds a 24.46% stake in RCBC.

In a separate statement, RCBC said its senior management led by RCBC Chairperson Helen Y. Dee recently met SMBC executives led by Toru Nakashima, president and group CEO of its parent company SMFG during an executive visit to reinforce their partnership.

“The visit provided an opportunity to exchange perspectives on current market conditions and strategic priorities, reaffirming the strong partnership between SMBC and RCBC and their commitment to supporting clients and facilitating business opportunities between Japan and the Philippines,” it said.

RCBC said its partnership with SMBC has strengthened the bank’s ability to support Japanese companies operating in the Philippines through connectivity to SMBC’s global network. “It has also enabled greater collaboration across corporate, consumer, digital and retail banking, while creating opportunities for business matching and cross-border connectivity between clients of both institutions,” it added.

“As the country celebrates 70 years of diplomatic relations between the Philippines and Japan, RCBC continues to leverage its enduring partnership with SMBC to drive innovation and economic growth. This collaboration empowers RCBC to solidify its market position, delivering top-tier financial solutions specifically tailored to the evolving needs of its clients.”

RCBC shares closed unchanged at P23 each on Thursday. — Justine Irish D. Tabile