RCBC Leasing and Finance Corp. (RLFC) said Monday it plans a nationwide expansion after a 30-percent equity investment from Japan’s Sumitomo Mitsui Finance and Leasing Company Limited (SMFL).
RLFC, a wholly owned subsidiary of Rizal Commercial Banking Corp. (RCBC), signed an agreement with SMFL on Aug. 18 for the investment.
SMFL is one of Japan’s largest leasing and financing firms with a presence across Asia, Europe and the United States.
RLFC president and chief executive Jayson Mendoza said the new capital would support growth in priority sectors like manufacturing, construction, information technology, renewable energy and healthcare. These sectors are expected to drive the company’s expansion over the next three to five years.
“The 30-percent investment… will strengthen our financial standing,” Mendoza said.
“It will enable us to expand into new territories, solidify our presence in newly established markets, explore and adopt innovations, and scale the business for long-term sustainability,” he said.
SMFL executive managing officer Tomoyuki Tanaka said the capital infusion reflects his company’s confidence in RLFC, RCBC and the Philippine economy.
“With our global expertise and RCBC’s strong market presence, we are excited to be part of this vibrant market and are committed to exploring more opportunities together,” Tanaka said.
“This partnership lays the foundation for long-term growth,” he said.
SMFL is part of the Sumitomo Mitsui Financial Group (SMFG). Another SMFG member, Sumitomo Mitsui Banking Corp. (SMBC), holds a 20-percent stake in RCBC, highlighting the ongoing partnership between the two banks.
