Security Bank, which is also 20 percent owned by Mitsubishi’s banking conglomerate MUFG Bank, announced the creation of Mitsubishi Motors Finance Philippines Inc.
The company will be 51-percent owned by Mitsubishi with Security Bank owning the remaining 49 percent.
Sanjiv Vohra, president and CEO of Security Bank, said the move allows the lender to offer better deals to customers.
“By combining the strengths of both Mitsubishi Motors and Security Bank through this new company, we are in the best position to offer enhanced auto financing services to match our customers’ needs,” Vohra said.
“This means more attractive promos, competitive financing packages, and fast decisioning. Thus, we deliver better value to customers,” he added.
Tatsuo Nakamura, executive vice president of Mitsubishi Motors, said the partnership also celebrates over six decades of doing business in the country.
“Mitsubishi Motors is very pleased to be able to partner with Security Bank which is one of the best financial institutions in the Philippines. Through this joint venture, we hope we can provide Mitsubishi Motors vehicles to more customers in this ever expanding market,” Nakamura said.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
