MANILA, Philippines – Japan’s Sumitomo Mitsui Banking Corp. (SMBC) has increased its stake in Rizal Commercial Banking Corp. (RCBC) by 4.46 percent for P6.4 billion, lifting its total ownership in the Philippine bank to 24.46 percent. In a statement, RCBC said the investment underscores SMBC’s confidence in the bank’s performance and strategic direction.  READ: Core lending drives 32% RCBC profit growth RCBC president and chief executive officer Reginaldo B. Cariaso said the strengthened partnership would help accelerate the bank’s digital transformation, advance sustainable finance initiatives and deliver greater value to clients and stakeholders. SMBC, one of Japan’s leading financial institutions, […]... Keep on reading: SMBC boosts stake in RCBC with P6.4-B investment