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Manila Bulletin devider Business devider Banking & Finance devider Security Bank teams up with Toyota to sell repossessed cars

Security Bank teams up with Toyota to sell repossessed cars

Published Feb 13, 2026 10:04 am
Security Bank Corp. and the auction arm of Toyota Tsusho Philippines have entered a partnership to automate and professionalize the sale of repossessed vehicles.
Under the agreement, Security Bank will utilize Toyota Auto Auction (TAA) as a primary remarketing partner.
The collaboration aims to leverage TAA’s standardized inspection systems to improve price discovery and shorten the holding period for the bank’s non-performing assets.
(L-R): Yvette Go, FVP and Property Management Division Head, Security Bank; Charles Malvin Ching, SVP and Chief Administrative Officer, Security Bank; Hirofumi Umeno, Board Director, EVP and Head of Alliance Segment, Security Bank; Naoki Ando, President, Toyota Tsusho Philippines Corporation; Yoshihiro Goto; First Vice President, Toyota Motors Philippines and Toyota Auto Auction General Manager; and Chrisline Balute, Senior Manager, Security Bank
(L-R): Yvette Go, FVP and Property Management Division Head, Security Bank; Charles Malvin Ching, SVP and Chief Administrative Officer, Security Bank; Hirofumi Umeno, Board Director, EVP and Head of Alliance Segment, Security Bank; Naoki Ando, President, Toyota Tsusho Philippines Corporation; Yoshihiro Goto; First Vice President, Toyota Motors Philippines and Toyota Auto Auction General Manager; and Chrisline Balute, Senior Manager, Security Bank
By moving these units through a structured auction environment, the bank expects to maximize recovery values while providing buyers with more reliable data on vehicle conditions.
The move comes as local lenders seek more efficient ways to manage Real and Other Properties Acquired (ROPA) portfolios. Traditionally, the disposal of repossessed cars has been hampered by inconsistent pricing and long turnaround times.
Security Bank noted that the partnership is designed to solve these operational bottlenecks by tapping into the technical expertise of a global automotive brand.
Hirofumi Umeno, executive vice president and alliance segment head at Security Bank, said the initiative is centered on establishing clear processes and fair outcomes.
He noted that the combination of the bank’s steady supply of repossessed units and TAA’s valuation capabilities would help create a more stable marketplace for secondhand cars. This synergy is intended to benefit both the institutional seller and the retail or fleet buyer looking for quality-assured vehicles.
For Toyota Auto Auction, the partnership represents an expansion of its role in the Philippine automotive ecosystem.
Yoshihiro Goto, first vice president of Toyota Motor Philippines and general manager of TAA, said the auction house was established specifically to handle remarketing tasks that fall outside the core competencies of financial institutions.
By outsourcing these sales to a professional auctioneer, banks can focus on their primary lending operations while ensuring their collateral is liquidated at fair market prices.
The two companies indicated that the current arrangement may serve as a foundation for broader cooperation. 
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