Security Bank’s Board of
Directors during the Annual Stockholders’ Meeting on April 28, 2026. (First
row, L-R) James JK Hung, Board Advisor; Enrico S. Cruz, Independent Director;
Gerard H. Brimo, Independent Director; Michael Chua, Independent Director; Atty.
Jose Perpetuo M. Lotilla, Independent Director; Stephen G. Tan, Independent
Director; Esther Wileen S. Go, Independent Director; Mark Dennis Y.C. Joven,
Independent Director; (Second row, L-R) Joel Raymond R. Ayson, Corporate
Secretary; Victor Lee Meng Teck, President and CEO; Cirilo P. Noel, Chairman;
Frederick Y. Dy, Chairman Emeritus; Diana P. Aguilar, Vice Chairperson; Daniel
S. Dy, Director; Hirofumi Umeno, Director; and Maria Cristina A. Tingson,
Director
Makati
City, Philippines -- Security
Bank Corporation announced changes to its Board of Directors at its Annual
Stockholders’ Meeting held on April 28, 2026, alongside updates on the Bank’s
performance and priorities for 2026.
Stockholders
elected Michael S. Chua and Mark Dennis Y.C. Joven to the Board, replacing
Jikyeong Kang, whose term has ended, and Napoleon L. Nazareno, who passed away
in March.
Chua brings over three decades of experience
in banking and financial services, having served as Chief Country Officer of
Deutsche Bank Philippines and held senior leadership roles across corporate
banking, global markets, asset‑liability management, and
transaction banking.
Joven has
deep expertise in public finance and governance, having served as
Undersecretary at the Department of Finance and represented the Philippines on
the boards of the Asian Infrastructure Investment Bank and the Fund for
Responding to Loss and Damage.
The Bank
also announced a senior leadership transition. Lucose T. Eralil, Executive Vice
President and Chief Operating Officer, will conclude his contract with the Bank
on June 30, 2026. Effective May 1, 2026, Patrick Meneses will assume an
expanded role as Chief Data and Technology Officer, reflecting the Bank’s
continued focus on execution, transformation, and leadership continuity.
Converting growth into stronger returns
In his President’s Report, Security Bank President and
CEO Victor Lee Meng Teck said the Bank enters 2026 from a stronger foundation,
with the focus now on converting growth into better and more consistent
returns.
“We have
built a stronger, more capable bank,” Lee said. “The task now is to convert that strength into
stronger and more consistent returns.”
In 2025, revenues rose 22 percent to PHP66.9 billion,
while core operating profit increased 26 percent. Net income grew 3 percent,
reflecting solid operating performance alongside higher credit provisions and
continued investment spending.
Lee emphasized that growth was broad-based and
supported by the quality of the franchise. Net interest income grew 15 percent,
non-interest income rose 47 percent, and growth was supported by activity
across lending, deposits, payments, cards, Financial Markets, and fee-based
businesses.
The Bank also continued to strengthen its balance
sheet, with total assets reaching PHP1.2 trillion and deposits growing 16
percent. Asset quality remained resilient with improved coverage, while capital
and liquidity stayed sound. Moody’s affirmed the Bank’s Baa2 investment-grade
ratings and revised its outlook to stable from negative, while the Bank’s MSCI
ESG rating improved to A.
Lee said the
Bank’s priority now is disciplined execution, centered on cost discipline,
tighter risk management, stronger capital, and higher-quality growth.
“We are not pursuing growth at any cost,”
Lee said. “We are focused on growth that improves returns.”
He added
that the emphasis is on realizing greater value from investments already made
and translating existing capabilities into stronger performance.
Post a Comment