As a testament to its dedication, innovation, and excellence, Security Bank was named the Philippines’ Best Corporate Bank by Euromoney. This award highlights the efforts of the Corporate Banking Group (CorBank) within the Wholesale Banking Segment (WBS) to provide complementary solutions, foster lasting relationships, and position the Bank as the preferred partner for clients’ financial and advisory needs.
Financial efficiency
In 2023, WBS showed impressive financial performance, with +34% year-on-year (YoY) revenue growth to PHP6.8 billion. This category contributed a whopping 75% to the Bank’s total revenue, a significant increase from 48% in 2022. WBS’s loan portfolio also showed continued growth, with significant increases in both corporate and commercial loans.
Exemplary customer service
The Bank’s customer-centric approach has been its biggest differentiator. CorBank is constantly looking for ways to improve customer coverage and banking experience. This focus is reflected in the WBS score of the CSAT, which increased to 99% by 2023. The key to success is an ecosystem approach that captures connected businesses and close collaboration with internal product partners and external partners, such as MUFG Bank, to provide tangible value.
New money management solutions
The Bank’s Cash 360 solution has revolutionized cash management for companies. It allows businesses to deposit cash securely at any time without the need to visit a branch, with funds deposited in real time. The success of Cash 360 has led to its expansion of third-party channels, greatly increasing the number of locations accessible to corporate customers, even in remote locations.
Additionally, the Billing/Invoicing Presentment and Payment Solution (BIPPS) on the DigiBanker app was named “Best Payment Solution in the Philippines” by Alpha Southeast Asia, recognizing its efficiency in managing payments and payments.
Sustainable financial responsibility and nation building
The Bank has taken a big step in promoting financial stability. As of the end of December 2023, WBS disbursed approximately PHP43.6 billion in eligible Sustainable Finance loans, including green and community loans. Some examples:
- Project Finance agreement for iSON Tower Limited’s construction and operation of up to 800 telecommunications towers in underserved areas throughout the Philippines. CorBank’s role as a lender to finance the project led to it winning the Telecom Deal of the Year at the Asset Triple A Sustainable Infrastructure Awards.
- Sustainable financing of a water utility system in a remote area in Luzon and a solar project to supplement the national electricity supply.
- Financing major infrastructure projects, such as the PHP100 billion SMC Mass Rail Transit 7 (MRT-7) project, which is expected to improve the country’s transportation system and generate jobs.
- Sustainable financing of a water utility system in a remote area in Luzon and a solar project to supplement the national electricity supply.
Relationship Managers and Credit Analysts are experts in renewable energy projects and project finance agreements, in line with the Bank’s sustainable finance objectives.
Technological advances
In a move forward, the Security Bank launched the Payments Hub and Gateway (PHG) program in November 2023. This initiative centralizes all domestic and international payment methods by the end of 2025, increasing efficiency, standardization, and reliability. The implementation of AWS Cloud technology, a first in the Philippine banking industry, has also improved transaction processes and compliance with evolving regulatory standards.
As Security Bank continues to innovate and expand its services, Euromoney’s reputation serves as a benchmark for its excellence in corporate banking. Its commitment to financial performance, customer service, innovative solutions, sustainable finance, and technological development positions it as a leader in the industry, ready to meet the changing needs of its customers.
To find out more, visit www.securitybank.com.ph.
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