Security Bank Corporation (SBC) recognized as the most profitable among its peers reporting the highest Return on Equity of 20.30% for its un-audited full year 2008 results, and outstanding capital adequacy ratios of 17.63%, keep on track of its nationwide expansion and renovation program with the formal inauguration of three new Branches in Cebu.
Inauguration ceremonies simultaneously opened with a Thanksgiving Mass in these three branch sites located in Mandaue City in Tipolo and North Road, and in Banilad. North Road is the second branch in Mandaue to serve the banking needs of the progressive industrial area with the full occupancy of the Export Processing Zones and the large factories and manufacturing facilities situated within its proximity.
Security Bank President and Chief Executive Officer Alberto S. Villarosa “We are optimistic that with the resiliency of the local business community, Cebu will be among the first in the region to drive more business activity in the area that will help revive the sluggish market conditions.”
North Road-Mandaue Branch, was formally opened by senior bank officers and prominent bank clients who served as principal sponsors. Photo shows from left: Emilia Rule, Director of Rule Marketing, Inc.; Mira Rule, Director of Rule Marketing Corp.; Belen C. Lim, SVP of Security Bank Corporation; Rafaelito Barino, President and Chairman of the Board of Duros Development Corporation; Carlos M. Borromeo, SVP & Chief Financial Officer of Security Bank Corp.; Hon. Diosdado “Dadi” Suico, 1st Councellor of Mandaue City; Edwin Robin, CEO of Robinland, Inc. and Eight to Eight, Inc.; Nelson Reyes, Managing Director of Cebu Upland Feeds, Inc.; Antonio Tiu, Security Bank Corporation