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Security Bank Corporation takes pride in a rich history of banking excellence and consistently proven stability that spans more than five decades. Its constant success is built on a cornerstone of strong corporate values characterized by high standards of professionalism and integrity, a keen sense of financial management expertise, a sincere commitment to teamwork, and a tradition of superior customer care.
Over the years, Security Bank has been widely acknowledged as one of the best-managed corporations in the industry, achieving continuous growth and maintaining profitability though a prudent but forward-thinking corporate style.
Established on June 18, 1951 as Security Bank and Trust Company, Security Bank has prospered even in the most trying times, remaining steadfast amidst the economic, political and social upheavals in the country’s history.
It has secured its position in the industry as one of the Philippines’ top ten private domestic universal banks in terms of assets, deposits, and capital, and its standing as having one of the highest ratios for return on equity.
The Bank likewise boasts of having one of the healthiest balance sheets among its peers, and is one of few banks in the industry with positive free capital.
Security Bank is constantly implementing and improving upon its customer-focused differentiation strategy, which is geared towards building total banking relationships with the customers within its three core businesses: Corporate Relationship, Consumer and Investment Banking.
Constantly striving to be the best for its customers, its record of excellence continues to grow as the Bank continues to receive international acclaim and distinctions from prestigious financial and business organizations.
In August 2005, the Bank was cited in Asiamoney’s 2nd Annual Structured Products Poll as the
“Best Domestic Provider for Local Currency-Linked Products” in the Philippines, a distinction it shares with other recipients such as HSBC for Hong Kong and DBS for Singapore.
This was followed by another citation from Asiamoney’s The FX Poll published in September 2005, which consistently placed Security Bank among the Best Domestic FX Providers in the Philippines across various categories.
In particular, Security Bank garnered the top spots for “Best Single Electronic Trading Platform” and
“Best for Innovative FX Products and Structured Ideas”. The Bank also garnered a second place ranking as
“Best in FX Sales” and placed among the top five in the
“Best Domestic Provider for FX Services.”
These awards reaffirm the tradition of excellence and the spirit of innovation that was started 55 years ago, when the Bank was first established as
Security Bank and Trust Company (SBTC), 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, Security 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 business district.
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 country.
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 and Mindanao.
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 industry.
In the 70’s, 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 resiliency. Security Bank was not spared from these trials but prevailed alongside other stronger banks, overcoming the combined ill effects of the then prevailing political and economic turmoil.
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 and began putting into motion a new master plan for the Bank’s future.
In April 1994, the Bangko Sentral ng Pilipinas granted SBTC a universal banking license, allowing Security Bank to expand its financial services and revenue sources. Along with its expanded corporate charter, it changed its name 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 8th 1995. At this point in its corporate history, Security Bank Corporation had 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 a new round of economic difficulties that plagued Philippine business as a result of the Asian economic meltdown starting in mid-1997. It thrived all through 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.
On June 18, 2001 Security Bank celebrated 50 years of banking in the Philippines. It approached 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.
The period was marked by the pursuit of a new corporate direction that fuelled a renewed sense of purpose with the introduction of a strategic business plan aptly named
F.I.R.S.T. Priorities. The acronym represents the priority programs that stands for
F-Focus on Costumers, I- Innovation and Speed to Market,
R- Results-Oriented Quality and Productivity, S- Stakeholder Value Enhancement and
T- Teamwork.
These five ideals served to guide the bank in its quest to become the leading provider of financial service and solutions in the Philippines
The period was marked by more innovations where Security Bank was again first to introduce Cardless Bills Payment with the purchase of the most advanced two-in-one ATM and Bills Payment machines.
Digibanker, an Internet-based corporate cash management system, provided a suite of operating funds management services to large corporations, multinationals and conglomerates, who soon considered it superior to other similar systems in the market. The market overwhelmingly accepted it as the ideal way to manage operating disbursements, collections, and other payments.
This innovative, customer-focused, no-nonsense approach to managing its business no doubt contributed to the further improvement in Security Bank's financial strength. The Bank has kept in step with the fast changing world under the leadership of a strong team of top caliber banking professionals, shifting itself into higher gear to harness technological advancements, 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, perfectly captured in the line
“Security You Can Bank On”, a powerful promise that has become even more relevant as it strives for higher levels of achievements.
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 SBC was the first private and Filipino-controlled Bank of the
post-World War II period.
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.
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