Makati-(PHStocks)-Security Bank Corporation (PSE: SECB) announced today its decision to sell its stake in real estate company Security Land Corporation (SLC), in line with its focus on its core business. SECB currently owns a 51.81% stake in SLC.
Security Bank President and Chief Executive Officer, Alfonso L. Salcedo, Jr., remarked: “The decision to sell our stake in Security Land Corporation was made for us to have a better focus on the three pillars of our business: Wholesale Banking, Financial Markets and Retail Banking. We expect to close the transaction before the end of 2015.”
Security Bank has been a recipient of various awards, among which, in 2015, the Bank was the Overall Best Managed Company in the Philippines – Medium Cap by Asiamoney; one of the Best Mid-Cap Companies in the Philippines by FinanceAsia; Best Branch Innovation in the Philippines by The Asian Banker, recipient of Best CEO (Investor Relations) for Mr. Alberto S. Villarosa (former President & CEO and now Chairman of the Board), Best Investor Relations Company, and Best Corporate Social Responsibility awards by Corporate Governance Asia of Hong Kong; Bank of the Year, Philippines by M&A Today of London; and Best Foreign Exchange Bank, Philippines by Global Banking & Finance Review.