The Asian Banker Names Security Bank as the Strongest Bank in the Philippines in 2020

Ranking 1st in the Philippines and among the strongest in the Asia Pacific region, premier financial magazine The Asian Banker recently awarded Security Bank in a virtual ceremony last February 25 as the Philippines’ Strongest Bank in 2020 in its recently published Top 500 Strongest Banks Rankings.

The financial magazine’s assessment included banks and financial holding companies that are active in commercial and transaction banking. The results incorporated the latest 2020 financial information during the course of the pandemic. As such, the 2020 ranking reflects the impact of the pandemic on the performance of banks as it unfolded through the year.

“2020 was one of the toughest years for multiple sectors globally, most especially the banking industry. We take this recognition as an endorsement of Security Bank’s strength to deliver on its BetterBanking promise. As we do our part in cushioning the pandemic’s impact towards the economy, we will continue to fulfill our commitment to enrich lives, empower businesses, and build communities through financial excellence,” says Sanjiv Vohra, President and CEO of Security Bank.

According to The Asian Banker, Security Bank “outperformed its peers in the Philippines in profitability with the strongest profit growth, the lowest cost to income ratio and the best non-interest income to total operating income ratio. Its liquidity position was also strengthened. Meanwhile, its asset quality remained relatively sound.”
The Asian Banker’s strongest banks ranking is widely followed by investors, analysts and the media as the leading source to assess the financial strength of commercial banks in the region. It gives a bird’s eye view of the institutions’ balance sheet growth and profitability amidst unforeseen economic conditions. The strength rankings are also used for augmenting assessment criteria for counterparty and balance sheet risks.

The Asian Banker is the leading provider of strategic intelligence and builder of platforms in the financial services industry. It has been publishing the annual ranking based on balance sheet strength since 2007.

About Security Bank
Security Bank is the eighth largest private domestic universal bank in the Philippines by total assets (at Php 650.8 billion) as of September 30, 2020. The Bank has been operating for 69 years since it was established in 1951. Security Bank has a total of 313 branches and 787 ATMs to-date.

Security Bank’s major citations in 2020 are: Best Bank in the Philippines for 2020 by The Lafferty Group (The Statement Magazine); and Best Retail Bank in the Philippines in 2020 by Alpha Southeast Asia.

Security Bank’s major awards received in 2019 are: The Best Retail Bank in the Philippines for 2019 by The Asian Banker and Deposit Product of the Year – “All Access Account” by The Asian Banker; Automobile Lending Product of the Year by The Asian Banker (Philippines Awards 2019) and Deposit Product of the Year by The Asian Banker (Philippine Awards 2019); Best Bank in the Philippines in 2019 by Alpha Southeast Asia and Best SME Bank in the Philippines in 2019 by Alpha Southeast Asia; and Best Bank for SMEs in the Philippines in 2019 by Asiamoney.

Major awards received in 2018 were: Bank of the Year – Philippines 2018 by The Banker; Best Bank in the Philippines 2018 by Global Finance; The Best Retail Bank in the Philippines for 2018 by The Asian Banker; Best Retail Bank in the Philippines 2018 by Alpha Southeast Asia; and People Program of the Year Award for Security Bank’s Total Wellness Program by People Management Association of the Philippines (PMAP).

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