Sumitomo Mitsui seals 30% stake in RCBC Leasing

MANILA, Philippines — Sumitomo Mitsui Finance and Leasing Co. Ltd. (SMFL) has completed its acquisition of a 30-percent stake in the leasing arm of Rizal Commercial Banking Corp., giving the Japanese firm a bigger foothold in the Philippines. On Thursday, the Yuchengco-led bank said SMFL had secured the necessary regulatory approvals and permits to complete the