Sumitomo Mitsui Finance and Leasing Co. Ltd. (SMFL) is expanding its Philippine footprint after completing the acquisition of a 30 percent stake in RCBC Leasing & Finance Corp. (RLFC), positioning the Japanese financial services group to tap growing demand for leasing and asset financing.
The transaction, which secured all required regulatory approvals and permits, makes RLFC an equity-method affiliate of SMFL. RLFC is wholly owned by Rizal Commercial Banking Corp. (RCBC).
RLFC President and CEO Jayson L. Mendoza said the investment will support the company’s expansion over the next three to five years, particularly in industries where demand for financing is expected to grow.
Priority sectors include manufacturing, construction, information technology, renewable energy, healthcare, logistics, and auto leasing. Renewable energy opportunities will include financing for electric vehicles and solar panels.
“This investment positions us well for the opportunities ahead and strengthens our capabilities that will drive our business forward,” Mendoza said.
For SMFL, the partnership offers a broader platform in a Philippine market where economic growth and demand for financial services are expected to support expansion.
The Japanese leasing company will combine its sales and management expertise with RCBC’s customer base and RLFC’s existing organizational capabilities.
The deal also deepens the business ties between the SMBC Group and RCBC. Sumitomo Mitsui Banking Corp. (SMBC), SMFL’s banking affiliate, owns a 24.46 percent stake in RCBC.
SMFL said the investment is part of its strategy to strengthen its business base in global growth markets through collaboration with SMBC Group and its partners.
For RLFC, the fresh partnership comes as businesses across the Philippines increasingly seek financing for equipment, vehicles, technology, energy projects, and other productive assets, giving the company a wider field for growth.
This version gives the first two paragraphs more news value, while the final paragraph provides a stronger business takeaway rather than simply ending on the corporate partnership.
