Corp. from 4.999 percent of the total outstanding common stock to 20 percent in a transaction valued at more than P27 billion.
SMBC’s strategic investment would bring in P27.126 billion or $460.78 million of new core equity tier 1 capital to RCBC. SMBC is one of the largest banks in Japan and is the commercial banking arm of Sumitomo Mitsui Financial Group with 269.7 trillion yen in total assets and consolidated total capital ratio of 16.02 percent as of June 30, 2022.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japan’s Sumitomo Mitsui raises stake in RCBC via P27-B dealJapanese banking giant Sumitomo Mitsui Banking Group is boosting its stake in Yuchengco-led Rizal Commercial Banking Corp. (RCBC) to 20 percent through a P27-billion investment. In a stock
Source: inquirerdotnet - 🏆 3. / 86 Read more »
Shares sales to SMBC bags ₧27B for lender - BusinessMirrorRIZAL Commercial Banking Corp. (RCBC) announced last Thursday of having raised some P27.12 billion from the sale of an additional 4.99-percent stake to Tokyo-headquartered Sumitomo Mitsui Banking Corp. (SMBC). The transaction involves the sale to SMBC of 213.43 million common shares held as treasury shares of RCBC and the issuance to SMBC of 168.62 new
Source: BusinessMirror - 🏆 19. / 59 Read more »