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By JON VIKTOR D. CABUENAS, GMA News Published June 29, 2021 1:54pm Rizal Commercial Banking Corp. (RCBC) on Tuesday said it has entered an agreement to sell a 4.99% stake to Japan’s Sumitomo Mitsui Banking Corp. (SMBC) for P4.48 billion. In an emailed statement, RCBC said the agreement covers 101,850,000 treasury shares, with the proceeds to be used for lending activities. “The proceeds from the investment will allow the bank to finance the different requirements of key customers in the corporate, SME, and consumer segments and expand the reach of its sustainable finance framework,” RCBC said. SMBC ended the first quarter with $2.215 trillion in total assets and a capital adequacy ratio of 18.61%.

San carlosNegros occidentalLos angelesBenjamin dioknoBangko sentralCredit suisseClifford chanceRizal commercial banking corpJapan sumitomo mitsui banking corpRizal commercial bankingSumitomo mitsui bankingசான் கார்லோஸ்நீக்ரோஸ் தற்செயலானதுலாஸ் ஏஞ்சல்ஸ்கடன் ஸ்யூயிகிளிஃபோர்ட் வாய்ப்பு