RCBC completes sale of 15 pct share to Japan-based bank | ABS-CBN
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RCBC completes sale of 15 pct share to Japan-based bank
RCBC completes sale of 15 pct share to Japan-based bank
ABS-CBN News
Published Jul 31, 2023 06:58 PM PHT

MANILA -- RCBC on Monday announced the completion of the sale of an additional 15 percent stake to Japanese-based bank Sumitomo Mitsui Banking Corporation.
MANILA -- RCBC on Monday announced the completion of the sale of an additional 15 percent stake to Japanese-based bank Sumitomo Mitsui Banking Corporation.
The Yuchengco-led firm says the P27 billion capital infusion will boost its growth trajectory in its core businesses.
The Yuchengco-led firm says the P27 billion capital infusion will boost its growth trajectory in its core businesses.
RCBC president and chief executive officer Eugene Acevedo said the partnership will help the bank speed up its digital transformation and promote "disruptive banking solutions."
RCBC president and chief executive officer Eugene Acevedo said the partnership will help the bank speed up its digital transformation and promote "disruptive banking solutions."
RCBC has a P1.17 trillion balance sheet and a loan portfolio of P588 billion as of June 30. The bank was the first in the Philippines to establish a Japan desk in 1974.
RCBC has a P1.17 trillion balance sheet and a loan portfolio of P588 billion as of June 30. The bank was the first in the Philippines to establish a Japan desk in 1974.
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RCBC said its net income for 2022 reached P12.1 billion.
RCBC said its net income for 2022 reached P12.1 billion.
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