Security Bank

Also known as: Security Bank Corporation — the corporate styling since 1994 · Security Bank and Trust Company (SBTC) — the founding name of 1951 · SECB — the Philippine Stock Exchange ticker · BetterBanking — the service brand introduced in 2014

The Yuchengco universal bank and its heist record, the 1951 pioneer, the Aboitiz digital-first bank, and the 1852 first notes

Definition

Security Bank, corporately Security Bank Corporation (PSE: SECB), is a Philippine universal bank headquartered on Ayala Avenue in Makati, established on June 18, 1951 in Manila as Security Bank and Trust Company — “the first privately owned, Filipino-controlled bank of the post-World War II period,” in the description both the standard reference and the bank’s own history carry. It opened at the Don Roman Santos Building on Plaza Goiti, moved to Escolta in 1954, and built the largest Metro Manila branch network of its decade; the family of Frederick Y. Dy acquired it in 1991, it received its universal banking license on April 26, 1994 with its present name, and it listed on the PSE on June 8, 1995 in a ₱1.5-billion IPO. (Wikipedia — Security Bank, Security Bank — History) Japan’s MUFG Bank took a 20 percent stake for ₱36.9 billion in January 2016, and the bank was one of the eight founding banks of the BancNet ATM consortium on July 17, 1990 — the founder roster this wiki’s BancNet entry documents. (Wikipedia — Security Bank, Wikipedia — BancNet)

The current record: net income of ₱11.2 billion in 2024, up 23 percent — a record — on assets of ₱1.1 trillion, then ₱11.6 billion in 2025 (+3 percent) on ₱1.2 trillion, “refocusing on disciplined growth” in the chief executive’s 2025 words. Leadership is dated attribution: the 2024 results release quotes Sanjiv Vohra as president and chief executive, the March 2026 Inquirer report Victor Lee Meng Teck, and the standard article lists Cirilo P. Noel as chairman and Frederick Y. Dy as chairman emeritus. (Security Bank — 2024 results, Inquirer — Security Bank 2025 profit, Wikipedia — Security Bank)

Identities

Source Type	Identity
Wikipedia	Security Bank (article verified this session)
Wikidata	Security Bank Corporation (Q7444945) — “universal bank in the Philippines” (verified this session)
DBpedia	N/A — dbpedia.org unreachable this session (connection timeouts)
ProductOntology	N/A — ontology endpoint unreachable this session (connection reset)
Wiktionary	N/A — no entry returned this session (HTTP 404)
Library of Congress Subject Headings (LCSH)	N/A — id.loc.gov unreachable this session (HTTP 403)
MeSH	N/A
NCBI Taxonomy	N/A
AGROVOC	N/A
Google Scholar	Security Bank Corporation Philippines 1951 Security Bank and Trust Company first Filipino-controlled postwar bank universal banking 1994 MUFG BancNet BetterBanking Dy family
ConceptNet	N/A
OpenCyc	N/A

Also Known As

Security Bank Corporation — the corporate styling since 1994
Security Bank and Trust Company (SBTC) — the founding name of 1951
SECB — the Philippine Stock Exchange ticker
BetterBanking — the service brand introduced in 2014

Examples and Analogies

The postwar first: opened in 1951 as the first private, Filipino-controlled bank of the postwar era — a wholly Filipino charter at scale, beside the older Spanish- and American-chartered institutions. (Wikipedia — Security Bank, Security Bank — History)
A credit-card pioneer: the country’s first credit-card franchise, through Diners Club — dated 1980 on the bank’s own history page, carried as the 1970s in the standard article’s prose — with the rights later passing to BDO in 2016. (Security Bank — History, Wikipedia — Security Bank)
A consortium lender at scale: in the 1960s the bank led a consortium lending US$62 million to the Lopez family for its acquisition of Meralco. (Wikipedia — Security Bank)
Verified corporate data:
Founding: June 18, 1951, Manila, as Security Bank and Trust Company; first provincial branch in Angeles, Pampanga in the 1960s (Wikipedia — Security Bank, Security Bank — History)
Milestones: Dy-family acquisition 1991; universal banking license April 26, 1994; PSE listing June 8, 1995 (₱1.5-billion IPO) (Wikipedia — Security Bank)
Partners: MUFG 20 percent for ₱36.9 billion (2016); Krungsri partnership and SB Finance (2020) (Wikipedia — Security Bank, Security Bank — History)
Anniversaries: 70th in 2021; 75th in 2026, themed “With you then. With you now. With you always.” (Security Bank — History)
2024: net income ₱11.2 billion, up 23 percent — a record; revenues ₱54.9 billion, up 28 percent; deposits ₱801 billion, up 32 percent; 346 branches (Security Bank — 2024 results)
2025: net income ₱11.6 billion, up 3 percent; total assets ₱1.2 trillion; deposits ₱930.5 billion (Inquirer — Security Bank 2025 profit)

Usage Scenarios

1. Retail and Consumer Banking

The “BetterBanking” franchise launched in 2014 — refreshed by the new Security Bank App of 2024 — serves the mass market the 2024 numbers document: retail and MSME loans up 37 percent, credit cards up 64 percent, auto loans up 54 percent. (Security Bank — History, Security Bank — 2024 results)

2. MSME and Business Banking

The Business Banking segment, launched 2023 for micro, small, and medium enterprises, lifted retail and MSME lending to 32 percent of total loans in 2024 from 29 percent — a documented diversification away from the wholesale-weighted book. (Security Bank — History, Security Bank — 2024 results)

3. Corporate and Institutional Banking

As a universal bank since 1994, the bank arranges wholesale lending and capital-markets business through subsidiaries such as SB Capital (1995) and SB Cards (2003, with Mastercard); wholesale loans grew 21 percent in 2024. (Security Bank — History, Security Bank — 2024 results)

4. Investor Analysis

As the PSE-listed SECB, the bank reports through the exchange’s regime; the documented investor frame is the MUFG 20 percent stake, the Dy family holdings, and the 2024 capital ratios — CET1 at 12.9 percent, CAR at 13.8 percent. (Wikipedia — Security Bank, Security Bank — 2024 results)

Strategies

Rebuild Filipino banking first: the 1951 charter — the first private, Filipino-controlled bank of the postwar period — claimed the indigenous niche before the merger waves consolidated the industry. (Wikipedia — Security Bank, Security Bank — History)
Partner for strategic capital: MUFG’s ₱36.9-billion entry in 2016 and Krungsri’s partnership in 2020 tied the bank to two foreign groups while keeping Dy-family control. (Wikipedia — Security Bank, Security Bank — History)
Disciplined growth: the 2025 posture the bank’s leadership states — “refocusing on disciplined growth, delivering strong revenue momentum, improving asset quality” — after a 2024 that leaned hard into expansion. (Inquirer — Security Bank 2025 profit)
Fund the book with deposits: the 32 percent deposit growth of 2024 to ₱801 billion, 52 percent of it CASA, is the documented low-cost funding behind the 26 percent loan growth. (Security Bank — 2024 results)
Innovate channels early: from DigiBanker online cash management in 2002 to the recycled-PVC cards and rebuilt app of 2024 — each dated to its source. (Security Bank — History)

Security and Safety Measures

Central-bank licensing and supervision: the universal-banking license of April 26, 1994 frames the bank’s regulatory standing; the record fine the same regulator imposed on a competitor in 2016 marks the enforcement environment all universal banks operate under. (Wikipedia — Security Bank, Wikipedia — BancNet)
Capital and liquidity buffers: the 2024 disclosure — CET1 at 12.9 percent, CAR at 13.8 percent, liquidity coverage ratio at 178 percent, net stable funding ratio at 130 percent. (Security Bank — 2024 results)
Asset-quality management: gross NPL of 2.85 percent with 81 percent coverage at end-2024, and provisions raised to ₱12.8 billion in 2025 from ₱6.6 billion. (Security Bank — 2024 results, Inquirer — Security Bank 2025 profit)
For researchers: the open record names no founders — the standard article removed founder names as unverified — so founder claims should not be repeated; date each milestone to its source, as the Diners Club variance shows. (Wikipedia — Security Bank, Security Bank — History)

Historical Context

Security Bank opened on June 18, 1951 at the Don Roman Santos Building on Plaza Goiti as the first privately owned, Filipino-controlled bank of the post-World War II era, moving to Escolta in 1954 and claiming the largest Metro Manila branch network of the decade; its first provincial branch followed in Angeles, Pampanga in the 1960s, alongside the consortium role in the Lopez family’s Meralco acquisition. (Wikipedia — Security Bank, Security Bank — History) The country’s first credit-card franchise followed — 1980 by the bank’s own chronology — before the Dy family’s 1991 acquisition opened the modern era: the 1994 universal license, the 1995 listing, DigiBanker in 2002, SB Cards in 2003, and the SBM Leasing venture with Marubeni in 2011. (Wikipedia — Security Bank, Security Bank — History)

The 2010s brought strategic capital — MUFG’s ₱36.9-billion, 20-percent stake in 2016, the Krungsri partnership and SB Finance in 2020. (Wikipedia — Security Bank, Security Bank — History) The current record is the 2023–2026 sequence: the MSME Business Banking segment in 2023, the record ₱11.2-billion net income of 2024 with deposits up 32 percent, the ₱11.6-billion result of 2025 on ₱1.2 trillion of assets, and the 75th-anniversary year of 2026. (Security Bank — 2024 results, Inquirer — Security Bank 2025 profit, Security Bank — History)

Challenges and Controversies

The Founder-Record Gap

No founder of the 1951 bank is carried in the verifiable record: the standard article flags the founder names once listed there as unverified and possibly vandalistic, and the bank’s own history page names none — so secondary accounts that assign the bank specific founders stand on nothing this entry could verify: the founding is documented as an institutional event, not a named-founder one. (Wikipedia — Security Bank, Security Bank — History)

Dated Attributions: Leadership and Rank

Who leads depends on the record’s date: the March 2025 release quotes Sanjiv Vohra as president and chief executive, the March 2026 Inquirer report Victor Lee Meng Teck, and the standard article lists Lee with Noel as chairman and Dy as chairman emeritus. Rank is similarly dated — sixth among private domestic universal banks by assets on 2018 figures — and the 2025 result (income up only 3 percent while provisions nearly doubled to ₱12.8 billion) shows the growth record cooling from 2024’s. (Security Bank — 2024 results, Inquirer — Security Bank 2025 profit, Wikipedia — Security Bank)

A Record Kept Mostly by the Bank Itself

The standard article is flagged for its reliance on primary sources, and the bank’s history page is corporate self-reportage; milestones such as the Diners Club first carry different dates across the two records, so each claim should carry its source, as this entry does. (Wikipedia — Security Bank, Security Bank — History)