April 08, 2019 | The Asian Banker
- Security Bank exhibited a strong retail franchise performance in 2018
- Launched digital initiatives to simplify financing process
- A digital transformation within the internal systemto create frictionless processes
Dubai, March 21st, 2019 - Security Bank was awarded Best Retail Bank in The Philippines at The Asian Banker International Excellence in Retail Financial Awards 2019. The awards ceremony was held in conjunction withThe Excellence in Retail Financial Services Convention 2019at Conrad Dubai, U.A.E on March 21st, 2019.
In the picture: Members of the International Advisory Council of Excellence in Retail Financial Services Awards Programme; Wilson Chia and Richard Hartung; John Holder, Chief Technologist, Realities Centre; Spiros Margaris, Founder, Margaris Ventures; Maria Christina A. Tingson, EVP and Head of Retail Banking Segment, Security Bank
Security Bank exhibited a strong retail franchise performance in 2018
To secure a greater market share of the retail banking business, Security Bank Corporation (SBC) has invested continuous effort to boost its retail loan products. SBC has way exceeded its growth target of 30% with a growth of 47% on year-on-year (YoY) basis in full year 2018. The interest income on loans and deposits of the SBC increased sharply by 30%, as reported in December 2018. Its retail deposits and retail loans grew by 21% and 47% YoY basis, respectively. The bank was also able to maintain its retail cost to income ratio at 47%. Overall, SBC has seen strong growth in its retail banking business...
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