SMFL closes 30% stake in Philippine leasing firm RLFC
What's the deal? Sumitomo Mitsui Finance and Leasing (SMFL)Dealroom has a profile for this one. Try Dealroom → has completed its acquisition of a 30% stake in RCBC Leasing & Finance Corporation (RLFC), the Philippine leasing arm of commercial bank Rizal Commercial Banking Corporation (RCBC)Dealroom has a profile for this one. Try Dealroom →. SMFL bought the shares through a third-party allotment of new stock, with RCBC retaining the remaining 70%.
What changes? RLFC now becomes an equity-method affiliate of SMFL. The two firms had signed the agreement on August 20, 2025, and the deal closed after clearing regulatory approvals and other conditions.
Who's involved? RLFC, founded in 1957 and based in Makati City, provides finance and operating leases plus corporate loans. RCBC is part of Philippine conglomerate the Yuchengco GroupDealroom has a profile for this one. Try Dealroom →, and Sumitomo Mitsui Banking CorporationDealroom has a profile for this one. Try Dealroom → already holds a 24.46% stake in the bank.
Why now? SMFL is targeting the Philippines for its strong economic growth and rising demand for financial services. It plans to combine its sales and management expertise with RCBC's customer base and RLFC's operating network to expand the business.
The signal: The deal deepens the SMBC group's foothold in Southeast Asia, layering a leasing tie-up on top of an existing banking stake. It reflects Japanese financial firms' continued push into faster-growing regional markets to offset limited growth at home.
Image credit: mjlsha
