Security Bank Corporation (PSE:SECB) and its wholly-owned investment banking arm, SB Capital Investment Corporation, bagged six accolades from Asian Banking & Finance (ABF) at their Retail Banking Awards, Wholesale Banking Awards, and Corporate & Investment Banking Awards, jointly held at the Marina Bay Sands in Singapore on July 4, 2024.
The new Security Bank Wave Mastercard was named the Philippines’ Credit Card Initiative of the Year and Sustainability Initiative of the Year, and also received bronze for ESG Program of the Year. The Bank’s Billing Invoice Presentment and Payment System (BIPPS) was awarded Domestic Digital Payment Initiative of the Year. SB Capital won two honors: Equity Deal of the Year for its role as joint lead underwriter and joint bookrunner in ACEN Corporation’s PHP25 billion preferred shares; and Project Infrastructure Finance Deal of the Year for its role in raising PHP100 billion for the San Miguel Corporation Mass Rail Transit 7 (MTR-7).
Pioneering sustainability
Since its launch in February 2024, the Wave Mastercard quickly stood out in the credit card market. Its name exemplifies the Bank’s dedication to environmental stewardship. The card’s eco-friendly design is made from 100% recycled PVC—the first of its kind in the Philippines.
To date, there are over 40,000 Wave Mastercards, exceeding performance projections and demonstrating sustained growth. The Wave Mastercard also saw a rise in monthly spending per card, more than double compared to the earlier no-annual fee variant.
“Thank you to Asian Banking & Finance for recognizing our Security Bank Wave Mastercard. We are proud to align our newest credit card product with our commitment to sustainability,” said Rahul Rasal, EVP and Retail Banking Segment Head. “One of the most unique aspects of the Wave Mastercard is that it’s our first credit card made of 100% recycled PVC, as certified by the ICMA Ecolabel Standard. We’ve curated benefits that align with what our customers want. Simply put, our Wave Mastercard is far more than just a no-annual-fee credit card.”
Revolutionizing digital payments
BIPPS is the first fully-customized, Internet-based electronic invoice presentment and payment system by a local bank. Integrated with the Bank’s award-winning DigiBanker app, BIPPS provides clients with a straight-through settlement solution for both online and traditional bills payment.. Furthermore, BIPPS speeds up merchant onboarding time with no major system development or reprogramming required.
Robbie Pablo, FVP and Transaction Banking Group Sales Head, said, “Winning the Domestic Digital Payment Solution award from Asian Banking & Finance is a clear testament to our unwavering commitment to providing innovative solutions for our customers. BIPPS exemplifies our focus on making financial transactions seamless, secure, and efficient.”
In January 2024, BIPPS was also named the Best Payment Solution in the Philippines by Alpha Southeast Asia.
Excellence in equity and infrastructure finance
SB Capital was the joint leader underwriter and joint bookrunner for ACEN Corporation’s PHP25 billion preferred shares—the largest preferred share issuance in the Philippines for 2023 and also the first fixed for life preferred shares issued in the Philippines. Net proceeds from the fundraising will enable ACEN to grow its renewable energy portfolio in the country. This transaction further established SB Capital’s track record in the market and resulted in the win for Equity Deal of the Year.
Additionally, SB Capital’s role in raising the largest onshore project finance facility to-date in the Philippines – the PHP100 billion private placement via fixed rate corporate notes to complete San Miguel Corporation’s Mass Rail Transit 7 (MRT-7) project won Project Infrastructure Finance Deal of the Year. The MRT-7 project will address the transportation needs of passengers and alleviate traffic in Metro Manila, particularly to and from North Luzon. With this transaction, SB Capital, along with three other investment houses, helped San Miguel speed up completion of the MRT-7 project, which hopes to cut travel time from Quezon City to Bulacan from two to three hours to just 35 minutes.
“We’re grateful to Asian Banking & Finance for recognizing our achievements in the capital markets. These awards reflect our strong partnership with our clients, who trust us to execute their strategic and financing objectives. We’re proud to support the growth and development of the Philippine economy through our involvement in landmark transactions such as ACEN’s preferred shares and San Miguel’s MRT-7 project,” said Virgilio Chua, President and CEO of SB Capital.
Asian Banking & Finance is a premier industry magazine dedicated to the region’s dynamic financial services sector. As part of the Charlton Media Group, ABF provides unparalleled coverage through its quarterly print issues, website, and newsletters, all aimed at elite decision-makers within the financial industry.