Security Bank gets stable outlook

MANILA, Philippines - International credit rating agency Capital Intelligence (CI) has given a “stable” outlook for the Security Banking Corp. (Security Bank) as well as upgraded the bank’s credit rating of long-term foreign currency rating to “BB” from “BB”. It likewise affirmed the short-term foreign currency rating of “B” of the bank. CI maintained a “BBB-” financial strength rating for Security Bank as underpinned by its excellent asset quality, good ability to generate capital internally and consistent superior profitability among its peers. These achievements strengthen the bank’s profile amongst local and international peers as it was recently awarded “The Best Managed Company in the Philippines – Small Cap Corporate of the Year” by leading financial magazine, AsiaMoney. A distinguished feat since SECB was the only bank among the awardees from the Philippines with the publication citing its ability to deliver “ROEs well above those of the big banks and generally outperforming them in efficiency ratios.”