Security Bank formally opens Tipolo Branch

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. The addition of the second branch in Mandaue along North Road complements the relocated branch in Tipolo in order 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.”

Tipolo Branch, in Mandaue City was formally opened by senior bank officers and prominent bank clients who served as principal sponsors. Photo shows from left: Amy Lo, Vice President and Treasurer Uni-wide Scrap Traders Inc.; Patricia May T. Siy, EVP – Head of Commercial & Retail Banking Segment of Security Bank; Jefferson Lao, Vice-President Bell Ringer Supermarket Inc.; Mark Yap, representing Dranix Distributor Inc.; Honorable Congresswoman Corazon Nerissa Soon-Ruiz of the 6th District of Cebu; Eric Mendoza, President of Mandaue Chamber of Commerce; Wee Sing Siy, Security Bank Tipolo Branch Manager; Margarita Onglatco, Vice President and Treasurer of Hyundai Cebu; Anastasia Y. Dy, Executive Director of Security Bank.

An Economic Orientation organized by Security Bank to provide relevant business information and market analysis was held later in the afternoon followed by fellowship cocktails in appreciation of the continued confidence and patronage of its valued customers and business partners.