SAFC Holds 2023 Annual Stockholders' Meeting; Boasts Phenomenal Growth and Transformative Initiatives
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| SAFC President and Managing Director, Mr. Joel C. Cruz |
As a subsidiary of the renowned Asialink Group of Companies (AGC), SAFC has established itself as a key player in the industry, alongside its esteemed affiliates, Asialink Finance Corporation (AFC) and Global Dominion Financing Inc. (GDFI). The event served as a momentous milestone for SAFC, as it marked the first in-person meeting after several years of virtual interactions. AGC's directors, shareholders, and SAFC leaders came together in this long-awaited gathering, creating an atmosphere filled with excitement and gratitude as SAFC showcased its remarkable growth and outstanding achievements in 2022.
Under the theme of "Resiliency Across Any Adversity," SAFC's 2022 Annual and Sustainability Report unveiled a story of strength and perseverance. The past year tested the company's resilience, but it emerged stronger than ever before. Amid the challenging global pandemic, SAFC's performance demonstrated its unwavering determination and ability to thrive. The company's growth over the past five years was nothing short of remarkable, with three key compound annual growth rates (CAGR) reflecting its success. SAFC's total income experienced an average yearly growth rate of 47.8%, showcasing its ability to generate sustainable revenue.
The CAGR for total assets stood at an impressive 49.98%, reflecting SAFC's sound financial footing and robust expansion. The year concluded with consolidated assets amounting to an impressive ₱4.6 billion, highlighting the company's consistent growth and solid foundation.
Moreover, SAFC's net income witnessed exponential growth, surpassing all expectations. From ₱15.10 million in 2017, the net income soared to ₱307.85 million in 2022, averaging an impressive annual growth rate of 82.8%. This remarkable achievement not only surpassed pre-pandemic performance but also propelled SAFC to new heights, crossing the significant milestone of ₱300 million in net income.
In line with its 20th anniversary, SAFC also proudly highlighted the establishment of its CSR arm, SAFC HEROES, at the beginning of the year. The initiative revolves around three core thrusts: Green Hero for Environmental Sustainability, Life Hero for the Promotion of Health and Wellness, and Love Hero for Community Development. This move reflects SAFC's dedication to corporate social responsibility and its aspiration to positively impact society.
The company's unwavering dedication to excellence and responsible growth ensures a promising future, not only for SAFC but also for its valued stakeholders, clients, and the communities it proudly serves. During his address, SAFC President and Managing Director Joel C. Cruz stated, “Our dedication to delivering value has evolved, extending beyond our shareholders to encompass the well-being and prosperity of all our stakeholders. Together, let us continue to pave the way toward a sustainable and prosperous future.”
SAFC Chairman Ruben Y. Lugtu II and SAFC Chief Executive Officer Robert B. Jordan Jr. also delivered inspiring messages during the Annual Stockholders' Meeting. They highlighted SAFC's groundbreaking milestones, emphasizing the unwavering commitment that allowed the company to continue serving its customers and driving growth, even during challenging times.
As SAFC celebrated its phenomenal growth and extraordinary accomplishments throughout the year 2022, the company stands poised to embark on new ventures and open 10 new branches as part of its expansion plans. The 20th anniversary signifies a milestone worth commemorating, while the establishment of SAFC HEROES amplifies the company's commitment to making a lasting difference in the world. SAFC's journey is far from over, and with its strong leadership, steadfast commitment, and innovative mindset, it continues to pave the way for success in the Financial Services industry.
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SAFC is one of the leading and fastest-growing financial institutions in the Philippines. Established in 2003, SAFC is focused on providing the Filipinos with EASY & AFFORDABLE Vehicle Financing and Refinancing options for both Cars and Trucks. The foundation of SAFC's Services are centered on the company's commitment to bettering Filipino lives.
SAFC has grown from its humble beginnings to a multi-billion financial powerhouse. It is now one of the country's financial leaders, with 38 branches and more on the way.
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