SMBC boosts stake in RCBC to 24.46%

MANILA, Philippines – Japan’s Sumitomo Mitsui Banking Corp. (SMBC) has increased its ownership in Rizal Commercial Banking Corp. (RCBC) after acquiring an additional 4.46-percent stake worth P6.4 billion. This is seen to further strengthen the strategic partnership between the two banks. READ: Core lending drives 32% RCBC profit growth In a statement on Monday, RCBC