Security Bank upgrades Davao branches

DAVAO CITY — The Security Banking Corp. is upgrading its branches in Davao for the added  convenience of its growing clientele in the area.

William C. Whang, Security Bank senior vice president and branch banking group head said the refurbishing and refitting program will be completed within the next quarter.

“We will also establish centers called S-class sections in three of the four branches in Davao to cater to the investing or more mature banking clients,” Whang said.

The S-class sections are for clients that want to go beyond the traditional deposit activities, which include trust and personal banking activities.

In Davao, three of the four branches will have a S-class section: Davao City proper, Monteverde and Rizal.

In the bank’s branch network in the Metro Manila, the branches in Alabang, two in Makati, Tektite in Ortigas, Binondo and Greenhills have S-class sections.

“There is a marked growth in the maturity of the banking public. They now realize that there are more investment opportunity beyond the traditional savings and time deposits, and that includes trust products and other investments in securities,” the Security Bank official said.

Five new Security Bank are set to open branches in Laoag, Urdaneta in Pangasinan, Cagayan de Oro, and two in the Visayas, including Cebu City.

Security Bank has 16 branches in the Visayas and Mindanao area out of the total 114 nationwide.

The bank has been aggressive in the consumer and the small and medium enterprises (SME) in the past two years with the Mindanao region getting the lion’s share of attention.

In fact, the medium-sized bank is optimistic of achieving a 20-percent growth in lending this year due to the targeted P14 billion worth of transactions with its over 100 corporate and SME clients using its cash management electronic facility.

In 2006, the cash management electronic facility, also known as eCollect, recorded P6 billion in volume of transactions which include loans, deposits, checking accounts and bills payments.

In the first quarter of this year, it averaged P1 billion worth of transactions.

In the same period, Security Bank recorded a 40-percent growth in net earnings to P757.6 million from  P540 million a year ago.