ASIALINK Finance Corp. (AFC) has renewed its partnership with automotive marketplace Carmudi Philippines to help drive growth in its auto loan portfolio.

“Our continued partnership with Carmudi allows us to strengthen our role in empowering more Filipinos to own vehicles and support their livelihoods. By combining Asialink’s financing expertise with Carmudi’s digital marketplace reach, we’re creating simpler, faster, and more inclusive ways for customers to access mobility and financial opportunities,” Asialink President and Chief Executive Officer Samuel Z. Cariño said in a statement on Monday.

Asialink said it aims to finance 5,557 vehicles through enhanced digital channels and loan programs for first-time car buyers and micro, small, and medium enterprises (MSMEs) as it seeks to grow its auto loan portfolio by over 200%.

“Under the renewed contract, AFC and Carmudi Philippines will continue integrating their services to enhance the vehicle marketplace and streamline auto financing for Filipino car owners. Since partnering in 2021, they have financed over 1,807 vehicles nationwide, with loan applications through Carmudi Philippines growing by 16% average growth rate year on year,” it said.

“This extended collaboration reflects both organizations’ confidence in the country’s auto financing sector and their shared goal to set higher standards in trust, accessibility, and innovation.”

Asialink disbursed over P15.5 billion in loans in 2024, with 77% of the total supporting MSMEs. The company targets to reach P24 billion in loan releases this year, Mr. Cariño earlier said. — A.M.C. Sy

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