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Philippine Finance Association Welcomes New Officers and Directors

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The Philippine Finance Association welcomed its new set of officers and directors at their recent General Membership meeting. The association, which is made up of key members from various businesses and associations in the leasing and finance industries, has its sights focused on its advocacies of promoting broader financial inclusion and product innovation in the local landscape.

Photo shows from left: Commissioner Kelvin Lester K. Lee of the Securities & Exchange Commission (SEC) inducting to office the Officers and Directors of the Philippine Finance Association led by Atty. Jude R. Romano, PFA President, of HC Consumer Finance Philippines, Inc. (Home Credit); Eillen B. Mangubat, PFA Executive Vice President, of Asialink Finance Corporation, Carlo B. Lazatin, PFA Director, of DES Financing Corporation, Cesar P. Nicolasora, Jr., PFA Treasurer, of Metrobank Card Corporation; Arnaldo S. Bacabac, Jr., PFA Director, of Orix Metro Leasing and Finance Corporation; Masahito Ikeda, PFA Director, of BPI Century Tokyo Lease & Finance Corporation; Maria Cecilia E. Baltazar, PFA Secretary, of Toyota Financial Services Philippines Corporation. Not in the photo are: Julius R. Alip, PFA Director, of CARD Leasing and Finance Corporation; Victor L. Guerrero, PFA Director, of Unicapital Finance and Investments, Inc.; and Agerico S. Verzola, PFA Director, of BDO Leasing and Finance Inc.

Photo shows from left: Commissioner Kelvin Lester K. Lee of the Securities & Exchange Commission (SEC) inducting to office the Officers and Directors of the Philippine Finance Association led by Atty. Jude R. Romano, PFA President, of HC Consumer Finance Philippines, Inc. (Home Credit); Eillen B. Mangubat, PFA Executive Vice President, of Asialink Finance Corporation, Carlo B. Lazatin, PFA Director, of DES Financing Corporation, Cesar P. Nicolasora, Jr., PFA Treasurer, of Metrobank Card Corporation; Arnaldo S. Bacabac, Jr., PFA Director, of Orix Metro Leasing and Finance Corporation; Masahito Ikeda, PFA Director, of BPI Century Tokyo Lease & Finance Corporation; Maria Cecilia E. Baltazar, PFA Secretary, of Toyota Financial Services Philippines Corporation. Not in the photo are: Julius R. Alip, PFA Director, of CARD Leasing and Finance Corporation; Victor L. Guerrero, PFA Director, of Unicapital Finance and Investments, Inc.; and Agerico S. Verzola, PFA Director, of BDO Leasing and Finance Inc.

This year, however, the PFA is also actively working with the Securities and Exchange Commission (SEC) which is currently making big strides in Regulatory Frameworks and Consumer Protection. SEC Commissioner Kelvin Lee–who attended the event as its induction officer–stressed the importance of proper regulation in the industry, especially at a time when consumers are plagued by abusive collection practices and committed by small-time, unregistered online lending companies.

Newly-appointed PFA President Jude Romano, who is also Home Credit Philippines’ Head of External Affairs, promised to work closely with the regulating body to make sure that the industry remains attractive to consumers. He shared, “The PFA fully supports the regulatory orders of the SEC. We are going to provide the help and support we can to encourage all the players in this business to do the same. After all, one bad experience from a company can disrupt the reputation of the whole industry.”

Home Credit Philippines is the leading in-store installment loan provider in the country. The company, which currently has more than 5.5 million customers, has recently expanded its products to include cash loans for new customers and credit cards for existing customers.

 

 

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