Security Bank Corp. has partnered with Toyota Auto Auction (TAA) to strengthen the sale of its repossessed vehicles through a professional and transparent auction platform.
Under the agreement, TAA— the auction services arm of Toyota Tsusho Philippines—will act as one of Security Bank’s official remarketing partners for repossessed vehicle units. The lender regularly acquires these vehicles from unpaid auto loans and needs an efficient way to resell them.
The partnership positions TAA as a key platform for handling the bank’s repossessed car inventory, using standardized inspections, digital vehicle data, and structured auction processes. This setup is expected to improve price discovery, speed up sales, and ensure fair market-based pricing for buyers.
Security Bank said the move will help maximize recovery values on repossessed units while making second hand vehicles more accessible to the public through a transparent marketplace.
TAA said it was established to run fair and organized auctions and to handle ROPA (real and other properties acquired) remarketing—activities that are outside banks’ core operations.
The collaboration could expand over time, with both parties exploring opportunities across the broader Toyota ecosystem and the bank’s corporate and commercial banking segments.
Toyota vehicles are sold in the Philippines by the Metrobank Group, which also has ties to Security Bank, underscoring the strategic significance of the partnership within the local automotive and financial sectors.
