Security Bank Corporation, as it is known today, has a proud history of financial
management expertise, with a proven track record of stability and consistent profitability
achieved through an efficient, perceptive and forward-thinking management style.
Established on June 18, 1951, it has established itself as one of the country’s
most stable and best managed financial institution, with six decades of corporate
success. Security Bank stands firm on a solid reputation as one of the Philippines’
top ten private domestic universal banks in terms of assets, deposits, capital and
return on equity.
Customers who value its distinctive service style, characterized by a combination
of professional competence, skilled efficiency and excellent customer care enjoy
a lasting and strong relationship with the Bank.
Security Bank continues to consistently receive distinctions and international acclaim
from prestigious organizations and international award giving bodies. These awards
validate the tradition of excellence that was started 60 years ago when the bank
was first established as Security Bank and Trust Company (SBTC) on June 18, 1951,
as the first private Filipino-controlled bank in the Philippines of the Post World
War II period.
From its first corporate headquarters in Plaza Goiti, the bank steadily moved with
the brisk pace of economic growth that characterized the 1950’s. Three years later,
the corporate headquarters moved to Escolta, fittingly at the nation’s pre-eminent
Towards the end of the 1950’s, Security Bank expanded its business reach by setting
up branches in various parts of Manila with such aggressiveness that at one point
in time, the bank had more branches in the metropolis than any other bank in the
The 60’s was marked by rapid expansion of the Bank’s branch network for a broader
countrywide reach with the opening of its first provincial branch in Angeles, Pampanga.
Throughout the decade, branches were established in various parts of the Visayas
It was also in the 60’s that the Bank led a consortia of local and foreign banks
that provided a US$ 62 million syndicated loan to the Lopez family for the acquisition
of the Manila Electric Company – the first deal of this kind in the Philippine banking
It was during the 70’s that Security Bank laid the foundation for a culture of innovation
in product development. This period saw the expansion and diversification of its
services with the introduction of “Diners Club”, the first credit card franchise
in the Philippines. The Bank also introduced to the market innovative trust products
and services that served as forerunners of today’s pre-need and common-trust plans.
Other banks eventually followed suit and created similar products.
As the decade closed, Central Bank granted it permission to operate a Foreign Currency
Deposit Unit, giving the Bank increased flexibility in the foreign currency system.
The 1980’s was a time for increased investment banking activities where the Bank
won deals with top players in the private and public sector. By the mid-80’s, the
political turmoil and resulting economic downturn that characterized that era in
the country’s history, proved to be a severe test of the Philippine banking system’s
SBTC was not spared from these trials but prevailed alongside the other stronger
banks, overcoming the combined ill effects of the political and economic situation
of that turbulent era.
As the last decade of the 20th century began, new majority owners led by Frederick
Y. Dy assumed control of Security Bank and Trust Company, infusing fresh directions
for the Bank.
In April 1994, the Bangko Sentral ng Pilipinas granted SBTC a universal banking
license, allowing it to expand its financial services and revenue sources. Along
with its expanded corporate charter it changed its named to SECURITY BANK CORPORATION
and set up its corporate headquarters at the center of the Makati financial and
business district along Ayala Avenue. The new building was named the Security Bank
Centre, hailed for its functional design with modern, comfortable workspaces and
cutting edge information and technology infrastructure.
In May 1995, Security Bank launched its Php 1.5 billion initial public offering.
Its exceptional financial performance impressed both local and foreign investors
resulting in an oversubscription of the Bank’s stock offering as it was formally
listed under the ticker symbol SECB in the Philippine Stock Exchange on June 8,
Security Bank Corporation at this point of its corporate history, effectively established
itself as the country’s fastest growing mid-sized universal bank.
Through the 90’s Security Bank remained consistently profitable year after year
despite the new round of economic difficulties that plagued Philippine business
as a result of the Asian economic meltdown in the mid 1997. It thrived in this daunting
crisis through the practice of prudent management and conservative lending, considerably
less plagued by credit losses and problem loans than many of its larger competitors.
Security Bank ended the century by embarking on a long-term program anchored on
the smarter use of technology and hiring the best and brightest in their fields
in order to reshape it into a real force to reckon with in Philippine banking.
On June 18, 2001 Security Bank celebrated 50 years of banking in the Philippines.
Continuing a tradition of banking excellence, today, it remains one of the best
managed banks in the industry and has one of the lowest non-performing loan (NPL)
ratios among its peer. The Bank’s innovative and customer-focused approach to managing
its business has no doubt contributed to the Security Bank's financial strength.
It has kept in step with the fast changing world under the leadership of a strong
team of top caliber banking professionals. Effectively shifting into higher gear
to steer the company to focus on technological advancements, to improve its ability
to build business and generate lasting value for its customers, employees and stockholders.
With a strong corporate-wide, team effort to effectively manage productivity, relationships
and risks, Security Bankers are working together to drive for excellence in products
and customer service keeping the tradition of alive.
Security Bank keeps the fire of its rich heritage burning bright with the reassurance
of continued stability, trust and reliability, captured in the line “Security You
Can Bank On”, a powerful message that has become even more relevant as it moves
forward to the future.
Facts and Figures
SBC was the first private and Filipino-controlled Bank of the post-World War II
The first provincial branch was put up in Angeles, Pampanga.
SBC continued to expand and diversify its services with the introduction of the
"Diners Club" credit card in the Philippines.
On April 26, 1994 the Central Bank granted SBC its universal banking license.
SBC's stock (ticker symbol: SECB) was formally listed on the Philippine Stock Exchange
on June 8, 1995.