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SMBC Boosts Philippines Bank Stake to 24.46%
23 Dec, 2025
Summary
- SMBC increased its RCBC stake to 24.46% with a Y 17bn acquisition.
- This investment strengthens SMBC's Asian expansion strategy.
- RCBC reported a Y 20.4bn net profit for the nine months ending September 2025.
Sumitomo Mitsui Banking Corporation (SMBC) has significantly increased its equity holding in the Philippines-based Rizal Commercial Banking Corporation (RCBC) to 24.46%. This latest acquisition of an additional 4.46% stake was valued at Y 17bn ($108m), reinforcing SMBC's commitment to its multi-franchise strategy centered on Asian market growth.
The strategic investment deepens the existing partnership between SMBC and RCBC, which commenced with SMBC's initial 4.99% stake purchase in June 2021. By July 2023, SMBC had expanded its interest to 20%, leading to RCBC becoming an equity-method affiliate for both SMFG and SMBC. This strengthened relationship facilitates collaborative efforts in wholesale and retail banking services.
This enhanced investment aims to bolster SMBC's presence and support for customers operating or seeking to expand in the Philippines. RCBC, a publicly listed commercial bank established in 1960 and a member of the Yuchengco Group, reported robust financial performance, with a net profit of Y 20.4bn and net assets of Y 371.7bn for the nine-month period ending September in the financial year closing December 2025.
