Security Bank Corporation (SBC) held its fifth economic forum in Cagayan de Oro (CDO) city this year, as part of its roadshow to reach tiger economies in the Philippines. The last forum for 2019 provided a macroeconomic outlook and took a closer look at key trends and developments in the Philippine business community.
“We carefully selected the venues of these nationwide forums. The venues are prime growth areas in the country. We began the National Economic Forum Roadshow in Luzon, in Clark, Quezon City and Makati, followed by the Visayas in Iloilo and culminating in Mindanao,” said Security Bank President & CEO Sanjiv Vohra.
Held in the gateway of Northern Mindanao, the forum also tackled main drivers for sustainable and inclusive development in the region, as well as current and prospects, opportunities and challenges in CDO and Mindanao.
Jhon Louie Sabal, Faculty member of the Department of Economics at Xavier University, spoke about unlocking CDO’s potential. Romeo Montenegro, Deputy Executive Director of Mindanao Development Authority, discussed the policy challenges in Mindanao amidst the economic landscape. Robert Dan Roces, Assistant Vice President & Chief Economist of Security Bank, provided an economic overview of Mindanao in relation to the Philippines, ASEAN and the rest of the world.
Zooming in on CDO, Vohra highlighted the economic opportunities the area offers: “CDO has continued to impress with the city’s ability to support seaport, land and transportation infrastructures, economic zones, air transportation facilities, and other economic support structures. Security Bank is here to support the continued progress of Mindanao’s 2nd largest city through our 4 branches in CDO out of 30 in Mindanao.”
Security Bank has a network of over 300 branches nationwide. Its economic forum roadshow is just one of the many ways the Bank supports national development initiatives, especially in areas where growth is on the rise. The bank has actively supported businesses, including small and medium enterprises, in Mindanao, and has created opportunities through its diverse portfolio of products and services.
Through the fora, clients are able to gain valuable insights that could influence consumer and investment behavior. “This is part of our BetterBanking commitment. Our Economic Forum was developed as a value add to clients, to support their everyday business decisions. Ultimately, it allows us to serve our customers better,” said Vohra.
Aside from its client-centric initiatives, Security Bank has also brought its BetterBanking promise closer to different communities through various corporate social responsibility (CSR) projects. To date, Security Bank Foundation, Inc., the bank’s CSR arm, has turned over 111 classrooms to 21 schools, and has trained 384 teachers in Mindanao as part of its “Build A School, Build A Nation: The Classrooms Project” program.
Over the years, Security Bank has maintained a constant presence in Mindanao in line with its transformative, long-term mission to enrich lives, empower business and build communities.