Security Bank Corp. and Mitsubishi Motors Corp. launched their joint venture, Mitsubishi Motors Finance Philippines Inc. (MMFP), a nationwide auto financing platform to strengthen their presence in the rapidly growing Philippine automotive market.
MMFP’s financing services, initially piloted in five dealerships in April 2025, are now available across all 67 Mitsubishi Motors dealerships nationwide.
The full-scale launch supports Mitsubishi Motors’ “Challenge 2025” mid-term business strategy, which identifies the ASEAN region, particularly the Philippines, as a core growth market.
“For us, this is an opportunity to deepen our relationship with Mitsubishi Motors and, more importantly, expand our footprint in the auto finance market,” Security Bank president and chief executive Sanjiv Vohra said at a joint press briefing.
Auto loans have been a strong performer for Security Bank, with a 52-percent year-on-year growth in the first quarter of 2025, continuing a positive trend from 2024. The bank anticipates continued growth in the second half of the year, partly driven by MMFP’s targeted support for Mitsubishi vehicle buyers.
“As a joint venture between Mitsubishi Motors and Security Bank, MMFP brings together market leadership and financial expertise to offer accessible, reliable financing,” said MMFP president and chief executive Satoshi Nakano.
“Our shared vision is to enrich Filipino lives by making car ownership more attainable and supporting Mitsubishi Motors’ continued growth in the country,” Nakano said.
Nakano said auto loans for Mitsubishi vehicles, previously managed directly by Security Bank, would now be handled by MMFP. This will allow Security Bank to focus on expanding its non-Mitsubishi auto loan portfolio, while MMFP can offer more specialized and brand-focused financing solutions.
In fiscal year 2024, Mitsubishi Motors sold 91,639 units in the Philippines, a 12-percent year-on-year increase, bringing its market share to 19.5 percent.
The Philippines is now one of Mitsubishi’s top ASEAN markets. With many Filipino car buyers relying on financing for vehicle purchases, MMFP is expected to play a crucial role in supporting automotive demand.
