Japan's SMBC completes purchase of RCBC shares

THE Yuchengco-led Rizal Commercial Banking Corp. (RCBC), the country’s fifth largest lender, announced last Monday they have completed the sale of an additional 15.001-percent stake to Japan’s Sumitomo Mitsui Banking Corp. (SMBC). The P27-billion capital infusion will reinforce RCBC’s growth trajectory particularly in its core businesses in corporate, SME and…

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