Security Bank gives focus on retail market-A A +A
Thursday, March 20, 2014
SECURITY BANK, which recently rebranded itself, will be giving more focus on the retail market.
Ma. Cristina A. Tingson, Security Bank senior vice president for retail banking, said during a phone conference with the media at Seda Hotel on Wednesday that the bank has three business pillars -- corporate investment, treasury, and retail -- but in the past much of the bank's profit came from the first two.
"We feel the need to build the third leg so that in time, our income stream is stable and diversified. If we want to build a better bank, we need to grow our customer base," she said.
At present, she said, the retail business contributes to about 25 percent of the total profitability of the bank and in five years time they want to raise that to 30 percent.
Tingson said they started thinking about the retail brand strategy sometime in 2012. They did a research on it and they found out that they needed to increase the awareness of the retail market that they are also serving them.
She said they eliminated some unnecessary processes in their services to provide more time with the client in order to serve them better.
The bank recently came out with a new logo and a new ad campaign, with Miss World 2013 Megan Young as their endorser.
According to Security Bank, the new logo symbolizes a "Perfect Harmony" is a modernized yin-yang symbol depicting their customers and their people working and coming together. The blue represents the renewed Security Bank while the green represents their desire to put customers first and have them grow with them.
"This event (rebranding) is the milestone from which we realize, as an institution, our commitment to deliver only the finest in banking service. And this includes a commitment to serving the country’s broader markets. As I've shared recently, this segment will become a meaningful pillar to complement our financial markets and wholesale businesses, as well as improve our ability to provide products and services that respond to our clients’ needs," said Alberto Villarosa, Security Bank president and CEO.
Published in the Sun.Star Davao newspaper on March 21, 2014.