Insider Spotlight
The Makati City-based lender said Toyota Auto Auction (TAA), the auction services business of Toyota Tsusho Philippines, will serve as one of its remarketing partners for repossessed vehicle units.
The initiative seeks to streamline disposal processes and strengthen outcomes for both the bank and buyers in the secondary car market.
The big picture
Banks typically handle repossessed properties, including vehicles, as part of asset recovery efforts. However, managing inspections, valuations and resale channels can be resource-intensive and may fall outside core banking capabilities.
Through the partnership, TAA will apply standardized inspection processes, digital data tools and established auction best practices to help Security Bank optimize pricing and accelerate turnaround times. The goal is to maximize recoveries while ensuring fair, market-based pricing for buyers.
The announcement was detailed in a company release, which outlined how the collaboration is expected to improve operational efficiency and support a more transparent marketplace for pre-owned vehicles.
Why it matters
As auto lending remains a key consumer finance segment, the ability to efficiently dispose of repossessed units directly affects balance sheet management. Faster sales reduce holding costs, while accurate valuations help protect recovery values.
“At Security Bank, we are focused on doing things properly—clear processes, fair outcomes, and solutions that create real value,” said Hirofumi Umeno, EVP and Alliance segment head, Security Bank.
“By combining our stable supply of repossessed units with Toyota Auto Auction’s strong valuation capabilities, we’ll help establish a fair marketplace and ease access to secondhand cars for buyers.”
“TAA started with the goal of running fair auctions and handling ROPA remarketing, which is outside the core business of banks,” said Yoshihiro Goto, FVP Toyota Motors Philippines and GM of Toyota Auto Auction.
Between the lines
Beyond repossessed vehicle remarketing, both parties signaled plans to explore broader areas of collaboration over time, including initiatives that could deepen engagement across the Toyota ecosystem and support Security Bank’s corporate and commercial banking businesses.
The bottom line
By aligning with a specialized auction operator, Security Bank is positioning itself to professionalize vehicle asset recovery while contributing to a more transparent and efficient pre-owned car market. — Princess Daisy C. Ominga | Ed: Corrie S. Narisma
