ACCRALAW acted as Philippine counsel to Sumitomo Mitsui Banking Corporation (“SMBC”), a multinational banking financial services institution, in its investment in Rizal Commercial Banking Corporation (“RCBC”). On 22 December 2025, SMBC and RCBC completed their transaction resulting in SMBC increasing its stake in RCBC from 20% to 24.46%. SMBC invested around PHP6.4 Billion in RCBC for this transaction.
RCBC is the fifth largest private bank in the Philippines in terms of assets. SMBC, the commercial banking arm of Sumitomo Mitsui Financial Group, is one of the largest banks in the world with presence in approximately 40 countries. ACCRALAW’s Partner Joselito M. Bautista led the team from the Firm’s Corporate and Special Projects Department. Senior Associates James Patrick O. Alojado and Juan Miguel C. Dela Cruz, and Associates Eric Leonardo L. Cembrano and Jillian Victoria D. Corpus also worked on the project.