Security Bank named ‘Best Bank for Corporates’ by Euromoney

As a testament to its dedication, innovation, and excellence, Security Bank was named the Philippines’ Best Bank for Corporates by Euromoney. This award highlights the efforts of the Corporate Banking Group (CorBank) within the Wholesale Banking Segment (WBS) to provide tailored solutions, foster enduring relationships, and position the Bank as the preferred partner for clients’ financing and advisory requirements.

Outstanding financial performance

In 2023, WBS showcased impressive financial performance, with a net income increase of +34% year-on-year (YoY) to PHP6.8 billion. This segment contributed a significant 75% to the Bank’s total net income, a notable rise from 48% in 2022. WBS’ loan portfolio also demonstrated continuous growth, with notable increases in both corporate and commercial loans.

Exemplary customer service

The Bank’s customer-centric vision has been its core differentiator. CorBank continuously sought ways to enhance customer coverage and banking experience. This focus is evident in WBS’ CSAT score, which rose to 99% in 2023. Key to success is the ecosystem approach which captured interconnected businesses and close collaboration with internal product partners and external partners, like MUFG Bank, to provide tangible value.

Innovative cash management solutions

The Bank’s Cash 360 solution revolutionized cash management for corporates. It allows businesses to deposit cash securely at any time without the need to visit a branch, with funds credited in real-time. The success of Cash 360 has led to its expansion to third-party channels, significantly increasing the number of accessible locations for corporate customers, even in remote areas.

Additionally, the Billing/Invoicing Presentment and Payment Solution (BIPPS) in the DigiBanker app was named the “Best Payment Solution in the Philippines” by Alpha Southeast Asia, recognizing its efficiency in handling billing and payments. 

Commitment to sustainable finance and nation-building 

The Bank has made substantial strides in promoting sustainable finance. As of end-December 2023, WBS disbursed about PHP43.6 billion in qualified Sustainable Finance loans, including green and social loans. Some examples:

• A Project Finance deal for iSON Tower Limited’s construction and operation of up to 800 telecommunication towers in underserved areas across the Philippines. CorBank’s role as lender to finance the project led to the win for Telecom Deal of the Year at The Asset Triple A Sustainable Infrastructure Awards.

• Sustainable financing of a waterworks system in a remote area in Luzon and a solar project to augment the national power supply.

• Financing large-scale 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 waterworks system in a remote area in Luzon and a solar project to augment the national power supply.

Relationship Managers and Credit Analysts are experts on renewable energy projects and project finance deals, in line with the Bank’s sustainable finance goals.

Technological advancements 

In a groundbreaking move, Security Bank launched the Payments Hub and Gateway (PHG) program in November 2023. This initiative centralizes all domestic and international payment rails by the end of 2025, increasing operational efficiency, scalability, and reliability. The implementation of AWS Cloud technology, a first in the Philippine banking industry, has also enhanced transaction processes and compliance with evolving regulatory standards.

As Security Bank continues to innovate and expand its services, the Euromoney honor serves as a benchmark of its excellence in corporate banking. Its commitment to financial performance, customer service, innovative solutions, sustainable finance, and technological advancement positions it as a leader in the industry, ready to meet the evolving needs of its clients.

For more, visit www.securitybank.com.ph.

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.

Join us on Viber at https://bit.ly/3hv6bLA to get more updates and subscribe to BusinessWorld’s titles and get exclusive content through www.bworld-x.com.