Beating big 'guys' in banking industry-A A +A
Sunday, July 7, 2013
THE mantra of this banker goes like this: "You don't have to be the biggest to be the best." Indeed, size, no matter how small or big, still gets equal footing in the banking industry.
Such was proven recently by one of the leading banks in the country, Security Bank Corporation (SBC), which got two distinctions last month from Asianmoney, Asia's leading regional publication, for its outstanding performance in the Philippines today.
Jason Te Ang, senior vice president of SBC, was happy to announce that Security Bank was on the limelight anew for winning two awards, one of which was highly-coveted by "big guys" in the banking industry, last month.
These two are Best Domestic Debt House and Best Domestic Bank. But, awards are mere representation for the company's performance and how far it has gone through.
The true gauge of a top-performing bank is how keen it is on its expansion efforts to widen its reach and serve more to the customers in the country, in what Ang said is the direction where the company is heading to.
"For the remaining half of the year, we shall continue to aggressively pursue our retail expansion efforts in strategic areas across the country," Ang said.
At present, the combined distribution network of Security Bank and its thrift bank arm, Security Banks Savings, reached a total of 218 branches, plus another 350 units of ATM nationwide.
Security Bank has continuously reaped impressive financial performance on the back of strong economic growth in the Philippines.
Ang reported an all-time high net income of P7.5 billion in 2012 for Security Bank, and managed to eke out 22 percent of the return on equity last year.
"Total asset was at P259.5 billion at yearend 2012 for a 21 percent growth rate on the back of strong macroeconomic fundamentals," he said.
SBC was established on June 18, 1951, and has since been touted as one of most stable and best managed financial institutions over the years.
With the growth it has achieved year after year, the company has also remained unfazed despite the tighter competition in the banking industry.
"We are proud to achieve our financial and business results amidst more intense competition even while we are heavily investing to increase our branch network and customer coverage during this period of economic growth," he said.
The company's direction is deeply rooted upon its vision statement, that is: "To be a world bank that is the best of best, a lifetime in fulfilling dreams across generations beyond borders."
With truthful and excellent performance, it will come as no surprise if Security Bank will bag more distinctions to add in their collections of trophies from both the national and international award giving bodies, even if it entails facing head-on the bigger financial institutions in the Philippines today.
The company has changed the game where the size is always the name of the game. For a stable company like Security Bank, no challenges are too extreme.
Published in the Sun.Star Davao newspaper on July 08, 2013.