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%.