Philippine law firm ACCRALAW has advised on Sumitomo Mitsui Finance and Leasing’s (SMFL) acquisition of a 30% stake in RCBC Leasing and Finance Corporation (RLFC) for an undisclosed sum.
The deal was completed on 24 August 2026 and saw SMFL subscribe to more than 1.3 billion newly issued RLFC class B common shares.
SMFL, the joint affiliate of Sumitomo Mitsui Financial Group and Sumitomo Corporation, is a Japanese financial services company offering leasing and financing solutions. RLFC serves as the leasing arm of Manila-based Rizal Commercial Banking Corporation.
ACCRALAW acted for both SMFL and RLFC. The team advising SMFL was led by partners Joselito Bautista and James Patrick Alojado, with support from senior associate Juan Miguel Dela Cruz and associate Marianne Monica Ignes.
Senior partner Andre Navato Jr and partner Shiree Amor Roma led the team advising RLFC, with additional assistance from senior associate Justine Navarro, and associates Ralph Vincent Samaniego and Keith Richard Mariano.
SMFL said the transaction aligned with its goal of expanding its business footprint in the Philippines, where strong economic growth and rising demand for financial services were expected.
