TOYOTA Financial Services Philippines Corporation (TFSPH) on Monday said its gross income rose 25.5 percent in its fiscal year ending March 2017, driven by the brand’s strong market performance.
The automotive leasing and finance company said gross income for the fiscal year increased to P4.2 billion from P3.3 billion last year. Net interest income also jumped 28 percent to P2.3 billion from P1.8 billion in 2016.
TFSPH recorded total assets of P58.7 billion at the end of the fiscal year, a 29.8 percent increase from the P45.3 billion posted a year ago.
“This included a P15.6 billion increase in loan receivables for the period,” it said in a statement.
TFSPH President Atsushi Murakami said the company now has over 90,000 customers and more than P50 billion in earning assets.
“With the increasing market share and growth of TFSPH these past years, we are geared to accelerate towards more achievements and milestones,” said Murakami.
TFSPH widened its nationwide presence by establishing new business centers in Pampanga and Cebu City.
“This expansion will carry on with business centers set to open in Davao and South Luzon in the last quarter of 2017,” the company said.
TFSPH is part of Toyota’s network of sales finance companies under Toyota Financial Services Corporation (TFSC) that operates in over 36 countries worldwide. It is the 25th sales finance company established by TFSC and is mandated to support Toyota sales in the Philippines in line with the global objectives of Toyota Motor Corporation, Japan. TFSPH is a business unit of GT Capital Holdings, Inc., which is the parent company of Toyota Motor Philippines Corp.