Security Bank absorbs thrift unit

MANILA, Philippines - Security Bank Corp. (Security Bank) will soon be operating the branches of its thrift bank, Security Bank Savings (SBS), as full service universal bank branches. Security Bank purchased of all assets and the assumption of all liabilities of SBS by as approved by Bangko Sentral ng Pilipinas (BSP) and the Philippine Deposit Insurance Corp. (PDIC). Security Bank Retail Banking Segment head Maria Cristina Tingson said that the acquisition allows the universal bank to focus on one strategic direction, particularly the kind of BetterBanking service to cater to their diverse banking needs.  This is in line with Security Bank’s sustaining growth strategy as one of the country’s leading universal banks and reaffirms its commitment to deliver a BetterBanking experience for all its valued customers. Visit www.securitybank.com to find Security Bank branches and ATM locations or learn about its products and services. For customer assistance, call its 24-Hour Service Hotline at (632)-888-791-88.