Security Bank Promises a Better Banking Experience

 One of the Philippine’s leading universal banks made a bold statement just last week. Security Banking Corporation launched their new brand promise of a “better banking experience” in line with their on-going initiatives of strengthening their core business. The bank has been in the process of implementing a two-year expansion program and the new corporate culture is the anchor to this program.

 “Security Bank. You Deserve Better.” is the new brand promise and exemplifies the Bank’s intent to expand the primary target market exponentially which will include various customer-centric programs and initiatives to address the growing retail banking segment.

 Alberto Villarosa, Security Bank President & CEO, said in a statement, “This event is the milestone from which we realize, as an institution, our commitment to deliver only the finest in banking service. And this includes a commitment to serving the country’s broader markets. As I’ve shared recently, this segment will become a meaningful pillar to complement our financial markets and wholesale businesses, as well as improve our ability to provide products and services that respond to our clients’ needs.”

 In a recent disclosure on its 2013 performance, the Bank delivered on its growth objectives, highlighted by the 30% increase in its loan portfolio to P 119.7 billion, out-pacing the banking industry’s 16% growth for the year.  In support of economic development, the Bank’s loans went to critical sectors of the economy such as power, utilities, infrastructure, wholesale and retail trade, food, agriculture and consumer goods. Supported by the expansion in the Bank’s branch network which grew to 244 branches strong for both Security Bank and Security Bank Savings, its deposits grew by 19% to P 142.4 billion, faster than the banking industry’s 7% growth rate. The growth in business volumes resulted in the 21% growth of the Bank’s total assets to P 259.3 billion.

 Security Bank’s management team is looking to measure the effectiveness of this recent initiative from two specific aspects – loan portfolio and deposits. The bank plans to change the ratio of its loan portfolio from a 90:10 skewed to corporate commercial to 60:40 still in favor of a wholesale but with an increased retail share. Deposits are still expected to outpace that of the aforementioned 7% industry average now that Security Bank Savings has aligned its standards with those of the parent Security Bank.