SAFC Marks 20 Years of Commitment to People, Sustainability, and Excellence in Service at 2024 Annual Stockholders’ Meeting

SAFC’s Chairman Ruben Y. Lugtu II, Vice Chairman William S. Uy, Chief Executive Officer Robert B. Jordan Jr., President and Managing Director Joel C. Cruz, WFC Chairman Antonia Y Lugtu, WFC President and CEO Joel B. Golaw, and the SAFC and WFC Board of Directors convened for the 2024 Joint Annual Stockholders’ Meeting

SAFC, one of the leading and fast-growing non-bank financial institutions in the Philippines, marked a significant milestone at its 2024 Joint Annual Stockholders' Meeting with its subsidiary company Wisefund Finance Corporation (WFC), held at The Westin Manila in June 2024. 

For two decades, SAFC has transformed lives and propelled financial success for Filipinos, culminating in a landmark event attended by esteemed executives, shareholders, and directors. Among the distinguished guests were the company’s Chairman Ruben Y. Lugtu II, Vice Chairman William S. Uy, CEO and Executive Director Robert B. Jordan Jr., and newly-elected directors from Creador, Omar Mahmoud, and Maynard M. Mendoza. The occasion also honored the late Ruben O. Lugtu Sr., whose early support was pivotal to SAFC's achievements.

Aligned with its 20th anniversary, SAFC's 2024 Annual and Sustainability Report adopted the theme "20 Years of Making Filipino Lives and Our Earth Better!" This theme depicts SAFC's commitment to sustainability, aiming to make a significant social and environmental impact across the country. Despite challenging economic conditions in 2023, with the Philippine economy resiliently expanding by 5.6%, SAFC demonstrated robustness and agility, achieving notable milestones that mirrored the nation's growth. Notably, refinancing initiatives contributed significantly to a 14.5% increase in total disbursements, totaling PHP 3.55 billion compared to the previous year.

SAFC's strong success was demonstrated by its financial indicators. Over a five-year period, net income climbed by 73.64% to PHP 346.3 million, while operating income increased by 10.9% to PHP 1.55 billion. During that time,, the total assets increased to PHP 5.2 billion, representing a 36.28% Compound Annual Growth Rate (CAGR). These numbers show how dedicated SAFC is to strategic planning, operational excellence, and providing value to its stakeholders. As it grew, SAFC placed a strong focus on risk management. The percentage of non-performing loans stayed low at 1.47%, while the tolerance for bad debts experienced a notable decline. 

The company improved its current ratio and debt-to-equity ratio, while expanding its relationships to 19 banking partners.

SAFC's dedication to Sustainability initiatives was a highlight of 2023. The SAFC Heroes campaign embodied the company’s commitment to giving back, focusing on promotion of health and wellness, community development, and environmental sustainability. Notable efforts included bloodletting activities, youth sports leagues, donation drives, tree-planting initiatives, and outreach programs. The "Reduce, Reuse, and Redrive" campaign promoted the use of second-hand cars, further emphasizing SAFC's commitment to environmental sustainability.

"The VIPXXPerience" campaign marks SAFC’s 20th anniversary, signifying 20 years of dedication to improving lives. SAFC's commitment to its partners, employees, and community, highlights the company’s role as a conscientious corporate citizen. SAFC is still dedicated to changing the world for the better. Looking ahead, SAFC further solidifies its position as a catalyst for equitable growth and sustainable development by reiterating its commitment to supporting Small and Medium Enterprises (SMEs) and so reinforcing the Philippine economy.

The company's journey is far from over, and SAFC keeps paving the route for success in the financial services sector with strong leadership and dedication.

###

About SAFC:

SAFC, established in 2003, has been at the forefront of non-bank financial services. The company's commitment to innovation and financial inclusion is evident in its diverse product offerings, including Sangla ORCR, Sangla Titulo, Second-hand Car & Truck Financing, and  Brand New Car & Truck Financing. The "2ONE" campaign reflects SAFC's dedication to a future where every Filipino can thrive.

Beyond financial solutions, we stand as HEROES for community growth, environmental sustainability, and holistic wellness.