Security Bank Strengthens Presence in the Philippines

SECBMakati—(PHStocks)—Security Bank Corp. (PSE: SECB), awarded as Bank of the Year 2012 for the Philippines by The Banker Magazine of London’s Financial Times, added 72 branches to its
network, opening 2013 with a total of 208 branches nationwide – 170 for its main bank
and 38 for subsidiary Security Bank Savings (SBS).

Pursuing a rapid expansion program, SBC opened 34 new branches for the main bank, with focus on Metro Manila. Twenty four of these new branches are in formerly restricted areas of Manila, Makati, Mandaluyong, Parañaque, Pasay, Pasig, San Juan and Quezon City. This is part of the 50 new licenses for additional branches granted to SBC by the Monetary Board. Meanwhile, two branches  were also opened in the unrestricted areas of Tugatog, Malabon and Karuhatan, Valenzuela. SBC’s main bank and its savings bank now have 126 branches in Metro Manila.

Strengthening its presence in the regions, SBC opened four branches in Luzon in the areas of Balanga and Olongapo in North Luzon and Calapan and Puerto Princesa in South Luzon. Branch network in Luzon now totals 52.

In the Visayas, SBC now has branches in Roxas City in Capiz and Lapu-Lapu City in Cebu, bringing the total to 16 branches. In Mindanao, the bank now has 14 branches as it opened new ones in Davao and Zamboanga.

Security Bank’s total distribution network expanded by 53% with the new branches opened in 2012. To better serve customers’ needs, SBC also concluded the year with 279 automated teller machines (ATMs) in strategic locations nationwide.

Security Bank is geared for further growth and on track of its aggressive expansion efforts to provide customers more convenient locations for easier access to the bank’s products and services.

Apart from being the Bank of the Year for 2012, SBC was likewise distinguished by The Asian Banker 500 as the Strongest Bank in the Philippines for its overall sustainability and profitability.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.