Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL) has completed its acquisition of a 30 percent equity stake in RCBC Leasing & Finance Corporation (RLFC), the leasing company wholly owned by Rizal Commercial Banking Corporation (RCBC).

In a Thursday statement, RCBC said SMFL completed the acquisition after securing all required approvals and permits from relevant authorities. Following the transaction, RLFC is now an equity-method affiliate of SMFL.

Support company plans

RLFC president and CEO Jayson L. Mendoza said the investment will support the company’s expansion plans, with growth expected over the next three to five years across priority sectors including manufacturing, construction, information technology, renewable energy such as electric vehicles and solar panels, as well as healthcare, logistics and auto leasing.

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

The company said the partnership will allow it to combine SMFL’s sales and management expertise with RCBC’s customer base and RLFC’s team structure.

Relationship between SMFL and RCBC Group

The transaction also builds on the relationship between SMFL and the RCBC Group. Sumitomo Mitsui Banking Corporation (SMBC) holds a 24.46 percent stake in RCBC, serving as a partner bank in the Philippines.

The latest investment further expands Sumitomo Mitsui Financial Group’s footprint in the Philippines. SMBC, an affiliate of SMFL’s parent group, increased its stake in RCBC to 24.46 percent in December 2025, following its initial 20 percent investment in 2022.

SMBC has also partnered with the Philippine Economic Zone Authority and RCBC to promote the Philippines as an investment destination for Japanese companies, including through investor briefings and facilitation activities.

In April 2026, SMBC, RCBC and the Board of Investments further signed an agreement to deepen cooperation in attracting and facilitating Japanese investments in priority sectors.