Japanese partner hikes stake in RCBC

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December 25, 2025 | 12:00am

MANILA, Philippines — Tokyo-based Sumitomo Mitsui Banking Corp. (SMBC) spent P6.4 billion to hike its stake in Yuchengco-led Rizal Commercial Banking Corp. (RCBC).

In a disclosure to the Philippine Stock Exchange (PSE), RCBC said that SMBC acquired an additional 4.46 percent interest in the bank, bringing its total ownership to 24.46 percent.

RCBC president and CEO Reginaldo Cariaso said the move underscores SMBC’s trust in the bank’s operational performance and its long-term strategic vision.

“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 said.

SMBC established its strategic presence in the Philippines through a partnership with RCBC, initially acquiring a 4.99 percent equity stake in June 2021, which was subsequently raised to 20 percent  in July 2023.

“We look forward to building on this momentum and continue to accelerate the bank’s reach and impact, with innovation and customer empowerment at the core,” SMBC president and CEO Akihiro Fukutome said.

Since the start of their partnership in 2021, RCBC and SMBC worked collaboratively across a wide spectrum of business areas from wholesale to retail banking, fostering mutual understanding while delivering exceptional products and services.

“RCBC boasts the most extensive Japan Desk business among local banks, a testament to its long-standing and robust relationship with Japanese corporations,” the listed bank said.

RCBC added that the long-standing collaboration with SMBC has enhanced the bank’s ability to provide specialized services and insights, catering to Japanese and Filipino clients while strengthening bilateral business ties.

The Yuchengco-led company recently reported that its consolidated net income jumped by 32 percent to P8.2 billion from January to September, driven by higher lending activity and robust fee income performance.

RCBC attributed the profit growth to a 13-percent expansion in gross customer loans and a 25-percent rise in fee-based income. As of end-September, RCBC’s total assets reached P1.31 trillion.

The bank operates over 400 branches and more than 1,500 automated teller machines nationwide.