Security Bank expands support for MSMEs

MANILA, Philippines — Security Bank Corp. has launched a partnership program to further support its micro, small and medium enterprise (MSME) clients.

After posting a double-digit loan growth of 68 percent in the first half, the bank’s Business Banking Segment (BBS) unveiled the Beyond Banking Partnership program to empower Filipino entrepreneurs.

The program was announced at a signing ceremony with key partners at Security Bank Centre in Makati City on Sept. 4.

JD Yap, senior vice president and BBS head of Security Bank, said the bank is committed to go above and beyond traditional financial services.

“It’s about creating a holistic ecosystem where our MSME customers can thrive in every part of their business journey,” he said. “We’ve brought together a diverse group of partners who share our mission of being the most reliable partner for MSMEs in the Philippines.”

According to Security Bank, the program provides business clients with preferential discounts and exclusive access to third-party partners.

This includes business registration and renewal, legal services, HRIS (timekeeping and payroll computation) functions, business intelligence and data analytics as well as tax filing services.

Some of Security Bank’s third-party partners include Empleyado, FilePino Inc., MyLegalWhiz, SYCARDA and Taxumo.

Security Bank’s earnings grew by 10.6 percent to P5.44 billion in the first half from P4.92 billion in the same period last year on the back of continued growth in business drivers.

The 73-year-old bank has a total of 328 branches and 662 ATMs, cash recycler machines and cash acceptance machines.