Security Bank receives highest distinction from Corporate Governance Asia

Corporate Governance Asia, considered as the authoritative voice in corporate governance practices in the region, recognized Security Bank Corporation with two key awards during The Best of Asia 2014 awards night held on October 24, 2014 at the Renaissance Harbour View Hotel, Wanchai, Hong Kong.

During the 10th Corporate Governance Asia Recognition Award 2014, Security Bank was awarded as Icon on Corporate Governance. This distinction – the highest accolade given by the award-giving body – is bestowed to companies who have consistently made it to the honor roll of the annual awards for Excellence in Corporate Governance. For the past four years, Security Bank has consecutively won the much-coveted distinction, which belongs to “the best of the best in corporate governance in Asia as they uphold the highest standards in business practices”.

In the same awards night, Security Bank Chairman Frederick Y. Dy was recognized as Asian Corporate Director of the Year. The award honors outstanding corporate directors from boards of public and private companies in Asia who have guided their boards and executive management in growing their businesses, maintaining ethics and steering their companies to periods of extraordinary growth.

Security Bank recently reported its 2014 third quarter financial results, showing Php 6.428 billion in net income in the first nine months of the year, representing 54% year-on-year growth and 20% return on shareholders’ equity (ROE).  The bank posted solid growth in core business, with loan portfolio increasing by 25% year-on-year to Php 181 billion and deposits growing by 26% to Php 232 billion.

For the past 11 years, Corporate Governance Asia has recognized companies in the region who continue to lead the way in initiating best practices. It provides news and analyses on corporate governance issues, boardroom practices and shareholder activism.