TOKYO -- Japan's Sumitomo Mitsui Financial Group will invest around 27 billion Philippine pesos ($464 million) in Rizal Commercial Banking Corp. to raise its stake to 20%, in its latest grab for growth in Southeast Asia.
Business deals
Japan's SMFG boosts stake in Philippine bank RCBC for $460m
Fresh investment will gain a 20% share in country's sixth-largest lender
SMFG and RCBC will partner in digital banking and other areas. (Photo by Koji Uema)
Read Next
_2048x1152.jpg?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)
Latest on Business deals
