Security Bank and AboitizPower Seal Collection Agreement for Seven Distribution Areas Nationwide

Leading the ceremonial signing were (L to R): Security Bank officers: FVP & Head of Cash Management Division Dennis Joy B. Ejercito, SVP and Region Head Jason Ang and EVP & Head of Wholesale Banking Segment Eduardo M. Olbes together with AboitizPower officers: VP for Customer Services Distribution Group Bienamer D. Garcia, DLPC AVP for Customer Services Group Arnold L. Arsolon, DLPC Supervisor for Collections Allan L. Jaca and DLPC Department Manager for Revenue Management Ruben P. Malabar.

Security Bank signed a memorandum for a universal collection agreement enabling Aboitiz Power Corporation to utilize the Bank’s collection facilities. Seven Distribution Units from Aboitiz Power Corporation namely: Visayan Electric Company, Inc., Davao Light and Power Company, Subic Enerzone Corporation, Balamban Enerzone Corporation, Cotabato Light and Power Company, Mactan Enerzone Corporation and Lima Enerzone Corporation will avail of the Bank’s Bills Payment Collection facility for retail customers and the Utility e-Payments (UEP) for corporate clients.

Through this agreement, corporate and retail clients can now settle their utility payments electronically. UEP also offers the capability to print the Certificate of Creditable Tax Withheld At Source (BIR Form 2307) for the benefit of corporate customers, saving time and resources. The signing ceremony was held on November 24 at the Davao Light and Power Company Head Office in Davao City.

Security Bank is widely recognized for its product innovation and technology-based financial solutions. The Bank was recognized by The Asset Triple A Transaction Banking Awards as the Best Cash Management Bank in 2016 and as the Best Service Provider – eSolutions Partner Bank from 2013 to 2016. In addition, The Asset Triple A Digital Enterprise Awards 2015 awarded Security Bank as the Best Electronic Bank for the Philippines. The Bank has also been named as “Bank of the Year-Philippines” for 2016 by The Banker, a distinction which it also won in 2015 and 2012.

Aboitiz Power Corporation (AboitizPower, AP) is the holding company for the Aboitiz Group’s investments in power generation, distribution, and retail electricity services. Incorporated in 1998, AboitizPower is a publicly listed holding company that, through its subsidiaries and affiliates, is a leader in the Philippine power industry and has interest in a number of privately-owned generation companies and distribution utilities.