RCBC Leasing & Finance Corporation (RLFC), a wholly-owned leasing subsidiary of Rizal Commercial Banking Corp., is expanding into new priority sectors – logistics, auto leasing, manufacturing, construction, information technology, renewable energy (including EVs and solar panels), and healthcare – which are expected to drive growth in three to five years.
RLFC President and CEO Jayson L. Mendoza said after Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL) completed its acquisition of a 30 percent equity stake in RLFC following compliance with all requirements, including approvals and permits from the relevant authorities, RLFC is now an equity-method affiliate of SMFL.
“This investment positions us well for the opportunities ahead and strengthens our capabilities that will drive our business forward,” Mendoza added.
SMFL, meanwhile, will be able to expand its business base in the Philippines, where strong economic growth and increasing demand for financial services are expected. This will be achieved by integrating SMFL’s sales and management expertise with RCBC’s strong customer base and RLFC’s organizational capabilities.
Sumitomo Mitsui Banking Corporation (SMBC) holds a 24.46 percent stake in RCBC as a partner bank in the Philippines. Through collaboration with SMBC Group and its partners, SMFL is committed to further strengthening its business base in global growth markets.
RLFC
Incorporated in 1957, RLFC is engaged in the financial leasing business, as well as operating leases through its wholly owned subsidiary. RLFC maintains a nationwide presence through five offices in key cities across Luzon, Visayas, and Mindanao, with close collaboration with RCBC.
SMFL is a prominent financial services company based in Japan and a joint affiliate of Sumitomo Mitsui Financial Group and Sumitomo Corporation. Its core business involves providing a comprehensive range of leasing and financing solutions globally, from asset and equipment leasing to specialized services such as aircraft and ship financing.
Meanwhile, Yuchengco-owned RCBC is a leading financial services provider in the Philippines, offering a wide range of banking and financial products and services. RCBC is engaged in traditional banking, investment banking, microfinance, retail financing—including auto, mortgage, and housing loans and credit cards—remittance, leasing, foreign exchange, and stock brokering.
