SMFL acquires 30% stake in RLFC

Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL) has entered into an agreement to purchase a 30% equity stake in RCBC Leasing and Finance Corporation (RLFC), the leasing arm of Rizal Commercial Banking Corporation (RCBC), through a thirdparty share issuance.

This new partnership brings together SMFL’s knowledge and expertise from its global presence with RLFC’s operations and RCBC’s local network to more effectively capitalize on the various opportunities arising from the Philippines’ strong economy.

This transaction also aligns with the multi-franchise strategy of Sumitomo Mitsui Financial Group, Inc. (SMFG), which seeks to solidify SMFG’s presence in high-growth areas such as India, Indonesia, Vietnam, and the Philippines by establishing new business bases in these areas. In 2023, Sumitomo Mitsui Banking Corporation (SMBC), a wholly owned subsidiary of SMFG, acquired an additional 15% stake in RCBC, bringing their total share to 20%.

About RLFC
Incorporated in 1957, RCBC Leasing and Finance Corporation (RLFC) is engaged in financial leasing business as well as operating leases through its wholly owned subsidiary. RLFC maintains a nationwide presence with 5 offices in key cities in Luzon, Visayas, and Mindanao and close collaboration with RCBC.

About SMFL
SMFL is a prominent financial services company based in Japan and a joint affiliate of the Sumitomo Mitsui Financial Group and Sumitomo Corporation. The company's core business involves providing a comprehensive range of leasing and financing solutions globally, which include everything from asset and equipment leasing to more specialized services like aircraft and ship finance.

About RCBC
RCBC is a leading financial services provider in the Philippines offering a wide range of banking and financial products and services. RCBC is engaged in all aspects of traditional banking, investment banking, microfinance, retail financing (auto, mortgage and housing loans, and credit cards), remittance, leasing, foreign exchange, and stock brokering. RCBC is a member of the Yuchengco Group of Companies (YGC), one of the oldest and largest conglomerates in South East Asia. For more information, please visit https://www.rcbc.com.