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Manila Bulletin devider Business devider The Stock Market devider Sumitomo Mitsui boosts RCBC stake to 24.46%

Sumitomo Mitsui boosts RCBC stake to 24.46%

Published Dec 22, 2025 03:42 pm
Reginaldo Cariaso
Reginaldo Cariaso
Japan’s Sumitomo Mitsui Banking Corp. (SMBC) has increased its interest in Rizal Commercial Banking Corp. (RCBC) to 24.46 percent with the acquisition of an additional 4.46-percent equity stake for ₱6.4 billion.
RCBC President and Chief Executive Officer (CEO) Reginaldo B. Cariaso said in a disclosure to the Philippine Stock Exchange (PSE) that the investment reflects SMBC’s confidence in the Yuchengco-led bank’s performance and strategic direction.
“This strengthened alliance provides greater momentum for us to accelerate digital transformation, advance sustainable finance, and deliver enhanced value to our clients and stakeholders,” Cariaso added.
SMBC is one of Japan’s leading financial institutions, globally recognized for its leadership in finance and sustainable banking, among others.
It has been actively pursuing growth opportunities in key emerging markets (EMs) across Asia, with the Philippines among its priority markets.
SMBC’s strategic entry into the country was solidified through a partnership with RCBC, beginning with a 4.99-percent equity investment in June 2021, which was later increased to a 20-percent stake in July 2023.
Since the partnership began in 2021, SMBC and RCBC have worked collaboratively across a broad range of business areas, from wholesale to retail banking, fostering mutual understanding while delivering products and services.
“We look forward to building on this momentum and continuing to accelerate the bank’s reach and impact, with innovation and customer empowerment at the core,” SMBC President and CEO Akihiro Fukutome said.
Currently ranked as the fifth-largest privately owned bank in the Philippines, RCBC has been recognized for its advanced initiatives in digital banking and environmental, social, and governance (ESG) practices.
RCBC also boasts the most extensive Japan desk business among local banks, a testament to its long-standing and robust relationship with Japanese corporations.
Together with SMBC, this deep-rooted history of collaboration has further enabled RCBC to provide specialized services and insights that cater to the unique needs of its Japanese and Filipino clients while fostering strong bilateral business ties.

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Rizal Commercial Banking Corporation Reginaldo Cariaso Sumitomo Mitsui Banking Corporation
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