SAFC, a leading and rapidly growing non-bank financial institution in the Philippines, celebrated a significant milestone at its 2024 Joint Annual Stockholders’ Meeting with its subsidiary, Wisefund Finance Corporation (WFC), held at The Westin Manila in June 2024. Over the past two decades, SAFC has transformed lives and driven financial success for Filipinos, culminating in this landmark event attended by esteemed executives, shareholders, and directors. Among the distinguished guests were 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 underscores 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 success was evident in 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, total assets increased to PHP 5.2 billion, representing a 36.28% Compound Annual Growth Rate (CAGR). These numbers highlight SAFC’s dedication to strategic planning, operational excellence, and providing value to its stakeholders. As it grew, SAFC placed a strong focus on risk management, maintaining non-performing loans at a low 1.47% while significantly reducing bad debt tolerance.
The company also 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 the 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 two decades of dedication to improving lives. SAFC’s commitment to its partners, employees, and community underscores the company’s role as a conscientious corporate citizen. Looking ahead, SAFC continues to solidify its position as a catalyst for equitable growth and sustainable development by reiterating its commitment to supporting Small and Medium Enterprises (SMEs) and reinforcing the Philippine economy.
The company’s journey is far from over, and with strong leadership and dedication, SAFC continues to pave the way for success in the financial services sector.
