2019 Security Bank Annual Report

2019 Annual Financial
and Sustainability Report
BetterBanking Here
Corporate Policy
102-1, 102-6, 102-13, 102-16
We are SBC solutions in a professional, problem-free, Our Strategy Statement BetterBanking Here
Get to know us personalized and prompt manner. With the Bank’s What we aim for
strategic partnership with the Mitsubishi UFJ Financial and how we plan to get there
Security Bank Corporation is one of the Philippines’ Group (MUFG), the largest financial group in Japan, Our 68-year history has
leading universal banks, established on June 18, 1951 it is also able to provide customers access to an
as the first private, Filipino-controlled bank of the extensive global network.
As a strong, independent Philippine bank, Security Bank
is uniquely positioned to support the development of key
produced a legacy built
post-World War II period, and publicly listed with the
Philippine Stock Exchange (PSE: SECB) in 1995. The Bank has been recognized by international sectors in the economy. on a culture of service
and local organizations for its continuous product
innovation, market leadership and best-in-class Our affiliation with MUFG enables global linkages and execution excellence.
Security Bank’s major businesses cover retail,
management practices. that create value for our customers, employees and
commercial and corporate banking, and financial
other stakeholders.
The commitment to
markets. It offers a wide range of services including
financing, leasing, foreign exchange, stock brokerage, Security Bank believes that corporate success is
achieved together with the promotion of positive
BetterBanking has set us
investment banking and asset management. We have built our Retail Banking business
social change. By implementing sustainable Corporate as a strong third pillar alongside Wholesale Banking apart from the competition.
Security Bank differentiates itself from competition Social Responsibility programs—focusing on and Financial Markets. Further, we will continue
as a strong, independent, domestic bank with education, entrepreneurship, community engagement
investing in People, Process, Data and Technology Our commitment to you accelerates our transformation
a global reach. The Bank provides superior and the environment, along with employee
to provide differentiated service. process. We continue to empower and upskill our steadily
customer experience in line with its brand promise involvement and through its social development arm,
increasing workforce. Our innovative and multi-award
of BetterBanking, stemming from an in-depth Security Bank Foundation, Inc. (SBFI)—Security Bank
promotes social good in the communities where We will enhance shareholder value by working towards winning products and services are primed towards
understanding of clients’ needs and providing
it operates. achieving the highest ROE among the top 10 banks in leveraging opportunities domestically and internationally
the country within the next five years. through the global network of Mitsubishi UFJ Financial
Group (MUFG).
Security Bank enriches lives, empowers
This is BetterBanking and it is HERE, for you.
businesses,
Our BetterBanking and builds communities
Promise
through
What we are committedﬁnancial
to do service excellence.
VISION PEOPLE
What we aspire to be We care about our employees and their
development. We are driven to provide service
Recruitment Portal
that fits the different needs of our customers.

To be a world-class bank We deliver sustainable shareholder value.
that is the best of the best Contents
a lifetime partner in fulfilling dreams APPL
CRED
ICANT’S Y
IT HIST
OR
INTEGRITY
We act respectfully and honestly to honor
across generations commitments while ensuring timely,
best-in-class, data-driven solutions even
beyond borders when situations are challenging.
Corporate Policy 1 Corporate Governance 93
2019 Financial Highlights 3 Risk Management 103
Message from the Chairman 5 Compliance 111
MISSION EMPOWERMENT
Message from the President & CEO 7 Audit Committee Report 117
We are accountable for the authority we are
What keeps us going given and the authority we give to others. Review of Operations 11 Statement of Management Responsibility
This means supporting a collaborative Sustainability Report 31 for Consolidated Financial Statements 118
We enrich lives culture and prompt decision making.
Independent Auditor's Report 119
2019 Awards and Recognitions 71
empower businesses Board of Directors 73 Statements of Financial Position 122
and build communities INNOVATION Board of Directors' Profiles 75 Statements of Income 123
We reimagine existing processes and
through financial service excellence tools towards achieving better outcomes. Executive Committee 81 Statements of Comprehensive Income 124
This means actively engaging in an Board of Advisors 82 Statements of Changes in Equity 125
“Identify, Evaluate, Create” process to test
fast and learn fast. Executive Management 83 Statements of Cash Flows 127
Senior Management's Profiles 85 GRI Content Index 129
Branch Directory 133
EXECUTION EXCELLENCE
SALARY
We effectively operationalize strategic
Products & Services 145
ADVANCE
goals for flawless execution done right
the first time; but it doesn’t stop there,
we believe in persistent improvement.
1 /
2019 Financial Highlights
GRI 201-1
Security Bank achieved record-high revenues of As a result of successful cross-selling and product Total Assets Profitability
PHP33.9 billion in 2019 as core business income continued penetration by our core retail and wholesale banking
10.1 PHP BN
its growth momentum. Net interest income from customer businesses, total net interest income increased 29% 2019 793,007
loans and deposits/peso bond issuance increased 43% to PHP26.8 billion. Net profit increased 17% to PHP10.1
2018 766,861
to PHP22.5 billion. Retail loans grew 56% and increased billion. Return on shareholders’ equity improved by Net Income After Tax
8.9%
to 29% of total loans from 20% in 2018. Low-cost deposits 80 basis points to 8.9% in 2019 from 8.1% in 2018. 2017 694,027
grew 19% and increased to 45% of total deposits from 38% Asset quality remained healthy, with net NPL ratio at
the year before. Net interest margin improved to 3.93%.
The cost-to-income ratio improved by over two percentage
0.56% and NPL cover at 129%. Security Bank continues to
be among the country’s best capitalized private domestic
Return on Shareholders’ Equity 308
1.3%
Loans and Branch Network
points to 51.1% from 53.9%. universal banks, with Common Equity Tier 1 Ratio of 16.9%
Receivables (Net)
and Total Capital Adequacy Ratio (CAR) of 17.9%.
Return on Assets 177 Metro Manila
2019 448,599
(Amounts in PHP Million, Consolidated Parent Bank (Solo) 73 Luzon
Except Ratios, Per Common
Share & Headcount)
2019 2018 2017 2019 2018 2017
2018 416,318
793.0 PHP BN 28 Visayas
2017 370,190 Total Resources
Profitability
Total Net Interest Income
Total Non-Interest Income
26,844
7,105
20,820
4,779
19,386
5,699
25,763
6,186
20,339
4,268
19,322
5,089
147.0 PHP BN 30 Mindanao
Market Capitalization
Total Deposits
Total Non-Interest Expenses 17,350 13,791 12,483 16,115 12,984 11,847
Pre-Provision Profit 16,599 11,808 12,602 15,834 11,623 12,564 2019 499,606
Provision for Credit and Impairment Losses 4,183 722 651 3,377 627 627
2018 488,890 Capital Adequacy Ratios
Net Income 10,102 8,610 10,265 10,146 8,650 10,309
841
Balance Sheet 2017 413,104
Liquid Assets
Gross Loans
314,874
454,529
336,159
421,327
311,446
374,041
313,078
456,386
335,984
419,555
311,215
371,746
16.85% ATM Network
CET1 Capital Ratio
Allowance for Credit Losses 6,043 5,233 3,851 6,038 5,284 3,757 Total Capital
Total Assets
Deposits
793,007
499,606
766,861
488,890
694,027
413,104
788,040
500,573
766,844
490,621
693,764
415,030 2019 118,286
17.88%
Total CAR
Total Equity 118,286 109,482 105,078 118,436 109,588 105,145 2018 109,482
Ratios
2017 105,078
Return on Equity 8.87% 8.07% 10.12% 8.90% 8.10% 10.18%
Return on Assets 1.30% 1.20% 1.48% 1.31% 1.20% 1.48% Asset Quality Ratios
CET 1 Capital Ratio 16.85% 16.40% 15.53% 16.39% 15.57% 14.99%
Tier 1 Capital Ratio 16.85% 16.40% 15.53% 16.39% 15.57% 14.99% Net Income
0.6% 6,625
Total Capital Adequacy Ratio 17.88% 18.70% 17.72% 17.44% 17.89% 17.20% Number of Employees
2019 10,102 Net NPL ratio
Per Common Share
Net Income per Share
Basic 13.40 11.42 13.62 13.46 11.47 13.68
2018
2017
8,610
10,265
129.2%
NPL Coverage Ratio
Diluted 13.40 11.42 13.62 13.46 11.47 13.68
Book Value per Share 156.83 145.15 139.31 157.04 145.30 139.40
Others
Cash Dividend Declared 2,265 2,265 2,265 2,265 2,265 2,265
Headcount 6,625 5,903 5,438 6,470 5,776 5,347
Officers 4,014 3,660 3,480 3,931 3,579 3,420
Staff 2,611 2,243 1,958 2,539 2,197 1,927
3 / security bank corporation BetterBanking Here / 4

1
P P
P
P PP
118.3 PHP BN 147.0 PHP BN

Shareholders’ Equity Market Capitalization
DEAR STAKEHOLDERS, Consequently, book value per share improved from

message from the chairman PHP145.15 to PHP156.83 in 2019, on the back of a 17.3%
2019 was another year of challenges and opportunities. growth in earnings per share from PHP11.42 for 2018
BetterBanking
We were faced with a highly volatile global environment to PHP13.40 for 2019. ROE in 2019 was stronger at 8.9%
as we contended with the trade war between the compared to 8.1% in 2018.
United States and China, the uncertainty of Brexit,
Here and Now

the brinkmanship of Iran and the United States and the The year 2019 also saw the share price of SECB improve
beginning of a pandemic, among others. On the local from PHP155 at end of 2018 to PHP195 at the end of
front, we were presented with business opportunities 2019. The 26% growth of SECB’s share price substantially
as interest rates declined and inflation stabilized while outperformed the 5% growth of the PSEI in 2019. Market
GRI 102-14 liquidity increased with lower reserve requirements, capitalization grew to PHP147 billion at the end of 2019,
even as we were challenged by slower GDP growth. from PHP117 billion at the end of 2018. Price-to-book
On a much larger scale, we had to face the growing ratio improved significantly from 1.07x at the end of 2018
impact of climate change as it brought about even to 1.24x at the end of 2019. Total dividends distributed for
more devastating environmental emergencies. common shares for the year was PHP2.26 billion, same as
in the previous year, representing a dividend yield of 1.5%.
Faced with this constantly changing environment,
Security Bank chose to embrace change as a response. Beyond improving shareholder value, we now confront
We began the change at the top by enhancing the greater challenge of sustainability. We are faced
the diversity of our Board of Directors and Senior with the need to balance: short-term and long-term
Management as we welcomed three new Directors into needs; private and public interests; and the corporate
the Board: Masaaki Suzuki, Gerard Brimo and Enrico Cruz. governance standards of the First World and
We also welcomed a new President & Chief Executive the realities of a developing country.
Officer with global banking experience in the person of
Sanjiv Vohra. These new Directors brought in many As we enter a new decade of challenges and
new ideas, even as we retained the wisdom of our retired opportunities, of threats and promises, the best that
Directors, Joseph Higdon, the late Ramon Jimenez, Jr.† we can do is prepare Security Bank to face the 2020s
and Rafael Simpao, Jr., through the Board of Advisors. by keeping our eyes on our vision, holding fast to
These changes allowed the Bank to intensify its learning our mission, remaining anchored on our values and
from the Board’s diversity of experience, nationality and maintaining our commitment to deliver BetterBanking
gender, as well as accelerate the adoption of global best to all our stakeholders here and now.
practices.
I wish to thank all our Directors and Advisors for
Such moves signify that we recognize the need to disrupt continuing to challenge and guide the Bank. My special
the status quo and the need to disrupt even ourselves. thanks go out to all Security Bankers for the hard work
We have also come to recognize that there are no borders and commitment to BetterBanking. We convey
to competence or talent and we will seek out people who our sincerest gratitude to all our customers and
will enable Security Bank to better serve its customers, business partners for the continued trust and loyalty.
business partners and other stakeholders. Lastly, we express our profoundest gratefulness to God,
without Whom all these are nothing.
As we underwent this transformation at the top,
the Bank continued to improve shareholder value.
Alberto S. Villarosa Total equity attributable to shareholders grew from
Chairman Frederick Y. Dy PHP109.5 billion at the end of 2018 to PHP118.3 billion
Chairman Emeritus by the end of 2019, a growth of 8.0%. ALBERTO S. VILLAROSA
Chairman

2
message from the president & ceo
BetterBanking
is Here for You
We will continue to be guided by our
customer-centric culture and our value of
putting people first in everything we do.
People – Shareholder Value – We listen
Integrity – Respect and Honesty – We do the right thing
Empowerment – Responsibility and Accountability – We’re in this together
DEAR STAKEHOLDERS,
Since my appointment as President & CEO, I have expressed my excitement in

returning once more to the Philippines, my family’s second home. After six months,
the excitement has just grown manifold times as I reconnect with my Filipino
network and work alongside a young ambitious population, raring to go and
aspiring to improve their quality of life.
Digital transformation has taken root in this country and will only accelerate from
here. These changes are likely to redefine the banking landscape. We will take
advantage of these shifts and leverage inevitable global and local forces that disrupt
how we live and work. We will continue to be guided by our customer-centric
culture and our value of putting people first in everything we do. We will maintain
a disciplined approach, balancing risk and reward with a long-term perspective.
Security Bank’s overarching vision is to be a world-class bank and lifetime
partner in fulfilling dreams across generations and beyond borders.
The Philippine economy faced several challenges right at the start of 2019, with the
delayed passage of the budget affecting the government’s infrastructure push in the
first half of the year. Fortunately, the government’s catch-up spending in the second
half was able to provide relief to investments and construction. Consumer spending
remained resilient, thanks to a robust labor market plus sustained remittances from
our overseas workers. Despite a challenging first six months, the Philippines retained
its standing as one of the fastest growing economies in the region. The year ended
with solid fundamentals and accommodative monetary and fiscal policies.
Sanjiv Vohra
President & CEO

message from the president & ceo message from the president & ceo
Security Bank continued to be among the country’s best Best Bank for SMEs in the Philippines in 2019 by
Empowering businesses, enriching lives and capitalized private domestic universal banks. Common Asiamoney and the Best Retail Bank in the Philippines
building communities form the foundation Equity Tier 1 Ratio was at 16.9% versus 16.4% a year ago.
Total Capital Adequacy Ratio (CAR) was at 17.9% versus
for 2019 by The Asian Banker.
of our BetterBanking promise and seal our 18.7% a year ago. Employees are at the core of service and are crucial to
sustainable performance. We have renamed our Human
deep commitment to service. Return on shareholder’s equity increased by 80 basis Resources and Security Bank Academy teams as Human
points to 8.9% from 8.1% in 2018. Capital Management (HCM). It is responsible for hiring,
People – Personalized Service – We listen
managing, training and retaining our growing family of
LOOKING AHEAD employees. We provide learning opportunities
for our employees by engaging them in more
We anticipate and have been preparing for opportunities cross-functional collaboration that allow them to
and challenges in 2020, taking into account macroeconomic, achieve their career aspirations and enrich their lives.
geopolitical and natural forces, including the start of a global
FINANCIAL PERFORMANCE health emergency at the end of 2019. Social responsibility is important in our corporate culture.
Our investments in our education advocacy primarily
Security Bank Corporation (SBC) ended the year with record revenues of PHP33.9 billion. Our preparations should provide much reassurance. through our Corporate Social Responsibility (CSR) arm,
Our revenue growth was driven by our core retail and wholesale businesses. Our 2019 We have a time-tested strategy, supported by our Security Bank Foundation, Inc. (SBFI), is about creating
net profit increased 17% to PHP10.1 billion. Net interest income from customer loans 68-year history, independence, robust balance sheet a better future and making a positive social impact for
and deposits/peso bond issuance grew 43% to PHP22.5 billion. This was driven by and diversified sources of funding. We are able to both our stakeholders and the communities where we
the significant growth of retail loans and margin improvement on our low-cost capitalize on global linkages through our partnership operate. In 2019, SBFI’s Build a School, Build a Nation
deposits. Total net interest income increased 29% to PHP26.8 billion. Net interest with the Mitsubishi UFJ Financial Group (MUFG). program received the Global Retail Banking Innovation
margin in 2019 improved to 3.93%, up 66 basis points year-on-year. We continued These attributes allow us to manage and grow Award for Best CSR Initiative from The Digital Banker,
to focus on profitability and risk-adjusted returns. our business despite increased uncertainty a Gold Anvil Award for a Public Relations Program
and a continuously fluid environment. on a Sustained Basis and a Philippine Quill Award of
Retail loans grew 56%, and now account for 29% of total loans from 20% in 2018. Excellence for Corporate Social Responsibility from the
Within retail loans, our better yielding auto loans and credit card receivables grew faster As we navigate the year 2020, our focus is on elevating International Association of Business Communicators
than our consumer housing loans. Wholesale loans decreased 2% due to tempered loan our service to sustain our competitive advantage. (IABC) Philippines.
demand and disciplined pricing. Total loans grew 9% to PHP456 billion. Service charges, Service is our differentiator and is the anchor of Security
fees and commissions grew 40% to PHP4.1 billion as a result of successful cross-selling Bank’s brand promise of BetterBanking. We are pouring Empowering businesses, enriching lives and building
initiatives by our Retail and Wholesale Banking segments. more resources into service differentiation, starting communities form the foundation of our BetterBanking
with the creation of more teams dedicated to improving promise and seal our deep commitment to service.
We increased headcount by 12%, or 722 to 6,625, primarily to support the growth service. We have established a Customer Experience
of the retail banking business. We likewise increased investment to support the Team to focus on customer journeys, a Service Analytics ACKNOWLEDGEMENT
transformation of the Bank's infrastructure, processes and culture. Team to measure customer satisfaction, and a Service
Council to ensure that initiatives are implemented. I am deeply grateful for and would like to acknowledge
The improvement in productivity was reflected in our cost-to-income ratio. Excluding the support and counsel of the Board and the dedication
gross receipts and documentary stamp taxes (GRT and DST), our cost-to-income ratio We are accelerating our technology transformation. of our 6,625 colleagues, evidenced by their invaluable
improved five percentage points to 42.2% in 2019 from 47.5% in 2018 despite an 18% Additionally, we are streamlining our processes to contributions. It has been a great privilege for me to have
increase in operating expense driven mainly by an increase in manpower cost. increase efficiencies and provide new offerings that served my first six months as President & CEO of Security
Including GRT and DST, total cost-to-income ratio improved by over two percentage empower businesses. Bank Corporation. I am proud to be part of this Team and
points to 51.1% from 53.9% in 2018, despite an increase in the GRT and DST, I look ahead with much confidence and faith in our ability
which caused taxes and licenses to increase by 79%. Our Retail Banking, Wholesale Banking and Financial to succeed together.
Markets businesses have embraced this transformation.
The Bank set aside PHP4.2 billion as provision for credit losses in 2019, a significant Our businesses continue to innovate as they deepen To our valued customers and stakeholders, we do better
increase from PHP714 million in 2018. This was a consequence of enhancements and grow their relationships in key business sectors everyday for you. Thank you for inspiring us to get here.
made in our credit provisioning models, rapid growth in retail loans and softness in by creating value. The synergies of our businesses have
select commercial sectors. led to our recognition as the Best Bank in the Philippines
in 2019 by Alpha Southeast Asia; Best SME Bank in
Our asset quality remained healthy with gross non-performing loans ratio at 1.17%, the Philippines in 2019 by Alpha Southeast Asia;
lower than the Philippine banking system’s 2.1% as reported by the Bangko Sentral SANJIV VOHRA
ng Pilipinas (BSP) as of December 31, 2019. President & CEO

3
review
section
of operations
title
review of operations
BetterBanking
Everyday
GRI 102-2, GRI 417-1
Retail Banking
We strengthened our Retail Banking business as a third pillar alongside
Wholesale Banking and Financial Markets. Our ambition to expand
our customer base has taken shape at a faster pace. Our loan portfolio
showcased high growth and we saw a consistent, upward trend in sales
across multiple product lines. With improved digital processes and
solutions supported by robust customer and service analytics, we are
better equipped to meet the immediate needs and provide long term
value to our diverse client demographic.
Anchored on what we have achieved in the last five years, the Retail
Banking Segment is positioned to deliver BetterBanking to even more
customers across our physical and digital channels. The Segment will
employ smarter and more aggressive use of data analytics in addressing
the needs of the markets we serve. Our customers will experience faster
and easier access to loans, as our consumer lending team focuses on
building straight-through processes, while our depositors will enjoy perks
and product bundles most appropriate for their needs.
Through our robust digital banking channels, hardworking teams and

suite of award-winning products and services, we are confident that
BetterBanking will be delivered to our customers.
PRESIDENT & CHIEF EXECUTIVE OFFICER
Retail Wholesale Financial Office Shared

Alliance
Banking Banking Markets of the CFO Services

review of operations review of operations
HOME LOANS to fast track referrals. The business also came up with a PERSONAL LOANS / SB FINANCE
Our Mortgage Banking Group (MBG) partners with

Top-Up facility that allowed existing home loan customers
to reborrow the paid-up portion of their original loan. Key initiatives implemented in Q4 2018 bore fruit
60%
Turnaround time
customers to fulfill their dream of homeownership. throughout 2019, making it a breakout year for our
improvement
In 2020, MBG’s objective to expand its nationwide coverage Personal Loans businesses.
In 2019, MBG focused on three initiatives to further will be supported by tapping additional distribution channels
this goal: and accrediting regional developers and broker partners. Geographic sales expansion in Visayas and Mindanao
comprised 20% of the total Personal Loans business.
1. Continuous engagement with branch partners. AUTO LOANS Straight-through processing that improved end-to-end
As a result, the volume contribution of the branch turnaround times by 60% from five days to as fast as
channel remained strong at 60% of total Home The year 2019 showcased our ability to scale up and two days, contributed to the tremendous growth of the
Loan bookings. become a major player in auto loans. We expanded our Personal Loans business. Credit process automation
2. Online burst promotions. These resulted in over portfolio by 90%, outpacing the growth of competitors. led to SB Finance (SBF) being the preferred partner
140% achievement of target for this channel. We attributed this growth to nationwide channel expansion, of third-party Direct Sales Agencies (DSA). Credit test
3. Reorganization of the Acquisition Team. In the new test and learn programs and process improvements that programs maximized top-up, re-availment and cross-sell
structure, Sales Officers focused on solicitation resulted in fast approvals and payments to our partners opportunities at low acquisition cost and low delinquency.
while the Mortgage Support Division ensured lead leading to more satisfied customers and partner dealers. The growth in business was also attributed to the strong
conversion to loan disbursement. We also came up with other product variants like truck partnership with the branch network, creating
financing and big bike loans to cater to specific needs a good proposition of affordable personal loans and
On top of these initiatives, loan approval was given within of our customer base and to complete our suite of efficient service to branch clients.
three days from application while actual disbursement was vehicle financing.
done within two days from approval. As a result, the group The growth in 2019 is expected to accelerate in the next
exceeded its target. For the first time in the history of Security Bank, our Auto three to five years with the upcoming partnership with
Loans product won Best Automobile Lending Product of Krungsri, the number one consumer finance provider in
In the second half of 2019, MBG offered an attractive five- the Year accorded by The Asian Banker. This recognition Thailand. Part of this partnership will include a deliberate
year fixed rate to borrowers who preferred long-term fixed is a testament to the product’s strong value proposition strategy to penetrate the mass market, increase distribution
interest rates. Selected brokers were provided a VIP lane in the market. and servicing reach and capability, as well as launch new
products in unsecured and secured financing.

CORPORATE SALARY LOANS AND SALAD CREDIT CARDS
Security Bank was the first to introduce a purely digital We did away with traditional paper-based Our Credit Cards business performed
salary loan, Salary Advance (SALAD), onboarding in enrollment and simplified how employees very favorably in 2019, with year-on-year
the country. enrolled by using the online channel. increase of 196% in billings. We outpaced
Moreover, we introduced an online status industry performance with our 226%
The year 2019 was a banner year for SALAD as it checker that made it easier for clients to portfolio growth and moved up in industry
received international recognition including— check the status of their loan application standing. The growth of the business
• The Digital Banker: Global Private Banking without having to call or wait for an update was fueled by our popular travel cards,
Innovation Awards on the loan approval. the World Mastercard and Platinum
Winner: Most Innovative Business Model, MasterCard as well as merchant tie-ups.
Salary Advance (SALAD) We enhanced the onboarding process
• Asian Banking & Finance Awards 2019 to reach existing Security Bank payroll In 2019, we gained broad market
Financial Inclusion Initiative of the Year account holders through SALAD Direct awareness for the World Mastercard and
• Global Retail Banking Innovation Awards 2019: Plus, a mobile platform approach, which Platinum Mastercard that were introduced
Loan Offering of the Year, Salary Advance, also improved turnaround time by two late in the previous year. These cards
Highly Acclaimed to three days for SALAD enrollment. targeted affluent travelers who value
These achievements were brought about by bundling

This increased product awareness among
existing account holders who now view
privilege and convenience and are willing
to pay for a superior customer experience.
Merchant tie-ups allowed us to extend
our market footprint and increase 196%
SALAD with the payroll account and accelerating the SALAD as a value-added feature that credit card usage. Among these tie-ups, Year-on-year increase
customer experience with the help of technology. delivers instant credit facility. It was a In the past year, Security Bank improved the seven-month partnership with Chatime in credit card billings
commitment governed by innovation the features of its premier cards to fit the generated the highest number of approved
Existing individual payroll account holders were and the BetterBanking experience. wants and needs of its ever changing cards at 97,665, while another acquisition
automatically pre-enrolled in SALAD without the need
for a separate company accreditation. This gave Security
target market. The table below shows a
summary of each card’s current features.
promotion with KFC resulted in 54,936
approved cards. 226%
Bank a competitive edge and resulted in winning payroll Credit card
bids against other banks. portfolio growth
PLATINUM MASTERCARD WORLD MASTERCARD
Get 2 complimentary lounge access annually Get 6 complimentary lounge access annually
(for cardholders and guests combined) (for cardholders and guest combined)
SMALL BUSINESS LOANS
in more than 1,000 lounges in 500 airports in more than 1,000 lounges in 500 airports
worldwide. Excess visits will be charged to the worldwide. Excess visits will be charged to the
38% The year 2019 saw a strong growth in Small Business Loans (SBL).
This was driven primarily by a growth of 38% from the Business Mortgage
cardholder at USD32 per person per visit. cardholder at USD32 per person per visit.
Growth of Business Loan (BML), a business loan secured mainly by real estate, and 18% from Through LoungeKey—a global airport lounge Through Mastercard Airport Experience
Mortgage Loans the non-collateralized Business Express Loan (BEL) which made up the program by Mastercard (MCAE) with the following benefits: lounge
bigger share of SME loan bookings at 70% total. access and dining, shopping, and spa offers
18% The BEL and BML were offered to the grassroots through 313 SME Day Open for application By invitation only
Growth of Business events in various fora. With the help of the branches, the proposition of
Express Loans fast approval was carried out. SMEs could get a loan in as little as six Mastercard Traveler Rewards—international offer program that provides seamless
(cross border) rebates at leading merchants in key destinations for affluent cardholders;
working days.
offers exclusive promos and cashback when travelling
In 2020, SBL will launch new loan variants to include a BML that is
Unlimited access to the Sky View Lounge (NAIA T3)
secured by chattel mortgage over new equipment. This will be available
initially to three segments: medical/dental, construction and farming. 24/7 Concierge
These new variants will fortify our goal of being the best SME financing
solutions provider. Travel Insurance up to PHP10 million (purchase protect, loss of credit card/money, document loss,
burn benefit, accidental death and disablement, medical, baggage and flight delay)

17% 46% With improved digital processes and solutions supported

Increase in retail
CASA volume
Volume growth
attributed to new
by robust customer and service analytics, we are better
customers
equipped to meet the immediate needs and provide
long term value to our diverse client demographic.
People – Personalized Service – We listen
RETAIL DEPOSITS Execution Excellence – Persistent Improvement – We do it right
In 2019, we set out to bolster our new-to-bank customer

base, increasing it by more than 40% versus prior year.
Our retail CASA volume increased by 17%. Volume growth
attributed to new customers was at 46% showing good
utilization and engagement.
E-COMMERCE 213 personal loans and 126 account
openings in just two months. 140%
BANCASSURANCE The year 2019 was stellar for digital. Average year-on-year
Efforts in digital marketing and targeted campaigns Digital sales for online account openings, To continue growing and taking the digital sales growth
rate for retail products
Studies show that less than 2% of provided a dramatic year-on-year growth on acquisition. credit cards, home loans and personal game to the next level, we need to
Filipinos have individual life insurance. This was in part due to the increased collaboration with loans all exceeded 2019 committed upgrade IT Environments to achieve
As our customers’ partner-in-life, we want Facebook and Google in executing digital campaigns, targets with an average year-on-year DevOps efficiency and true agile
to share with them the importance of as well as the team’s performance analytics efforts. sales growth rate of 140%. software development. To address this,
preparing for the future. Security Bank’s our E-Commerce Team is working with
collaboration with FWD Life Insurance The Branch Banking Group’s sales culture and focus In our efforts to put BetterBanking in the ITG to roll out modern environments for
allowed us to offer products that financially on training significantly increased sales performance proverbial pockets of Filipinos, we made development, testing and production.
empower our clients and their families. in relation to new customer acquisition. significant improvements to our digital
channels—from our website and mobile Our E-Commerce Team is on-track
In 2019, our Bancassurance Team was able Riding the updraft of digital—and because we wanted our apps to straight-through processing of towards becoming a major contributor to
to deliver almost 26,000 individual policies, retail customers to bank conveniently despite their tight application forms and anytime robot chat the Bank's revenues as well as becoming
a 30% increase from 2018. With this, schedules—alternative ways to bank were implemented for issues and applications. the preferred interaction channel of our
the Team achieved an Annualized Premium by putting Cash Deposit Machines in high density areas. customers. This, along with our fixation
Equivalent (APE) of PHP2.08 billion, Through data-driven analytics, locations for these Our official social media chatbot was on performance analytics, is key to
a 22% increase from the previous year, self-serve machines and new branches were picked revamped and relaunched in October and gathering data that will help us service
and income of PHP831 million which was to ensure they are in locations that would matter resulted in 203 credit card applications, our clients better.
a 23% growth from 2018. We attributed most to our customers.
this increase in both production and
income to more effective distribution Leveraging technology and data has allowed us
channels, particularly the Branch Banking to set clear strategies on retail customer and deposit
Group (BBG), as a result of specialized growth. Apart from our own data analytics team, we have WEALTH MANAGEMENT
training on how to generate referrals. collaborated with several data scientists and data science
professors to work on a machine learning tool to predict The year 2019 was dedicated to strengthening our Customer
In 2019, a payroll product variant bundled customer usage, possible churn and even best branch Engagement Model through technology. Guided by this model, we were
with an FWD group accident insurance locations for our target customers. able to provide high-quality customer experience from the time our
was introduced to provide an additional customers signed up. Clients were given personalized digital cards
benefit to employees of SBC’s payroll Our Wholesale to Retail efforts, which focus on top 1,000 which identified them as preferred customers. By flashing these cards
clients. This bundling initiative enabled corporations, multinational companies and BPOs, at any Security Bank branch, clients were given priority and received
SBC to introduce FWD to new-to-bank have contributed to more than 100,000 retail customers. access to premium services. We also provided clients with portfolio
clients on a larger scale. Cross-selling Foreign banks, multinational companies and top BPO management and review services in line with their financial objectives.
of FWD insurance products via digital offices in the country have put their trust in us. Through channels like SMS, they were constantly updated on market
channels also commenced this year, We continue to work with them and share the same developments and opportunities.
in addition to the development of digital goal of providing better employee propositions.
products, helping to further penetrate With the Customer Engagement Model, participation of Wealth
SBC’s client base. customers in Primary Issuances grew from last year. This jump was
primarily brought about by regular SMS advisories that were better at
reaching more people compared to individual callouts done previously.

Branch Banking Group

Let us take a look at our new branch:
The Branch Banking Group (BBG) has remained a strong distribution • Upon entering, clients are greeted Our branch transformation efforts have been driven by
channel and strategic partner for Security Bank’s Wholesale, by automated banking channels. a highly-trained and capable workforce. BBG relaunched
Retail Banking and Financial Markets Segments. We added four Automated Teller, Cash Acceptance the Sales Immersion Training Program (SITP) for newly
new branches in 2019 through our new branch transformation model, and Check Deposit Machines are hired sales associates. The program aims to prepare
expanding our branch network to 308. complemented by Service Phones associates to better identify the needs of clients and
in case a customer needs help quickly provide solutions, leveraging current marketing
As part of our commitment to providing excellent service, our expansion from the bank staff. campaigns.
focused on improving clients’ experience through branch transformation. • Virtual banking platforms for account
The new branch features flexible open spaces in more compact premises. opening, passbook updates and Our commitment to the Four Disciplines of Execution
It maximizes space for face-to-face engagement and interaction with investment transactions are available. (4DX)—focus, leverage, engagement and accountability—
clients. At the same time, it encourages clients to perform self-service In select branches, video conferencing has led to significant increase in CASA volumes versus
transactions instead of waiting in line at the tellers. nooks allow customers to engage the previous year. New-to-bank acquisitions have also
with product specialists. grown significantly.
With less floor area, more efficient design and optimized manpower, • Clients who need to discuss their
capital and operating expenses from the new branches are expected financial plans or simply feel like The Group’s customer-centric approach has paid
to be lower than that of traditional branches. lounging can make themselves dividends in the past year. It has placed Security Bank
comfortable as they enjoy a cup of in a position to give birth to fresh innovations set
We witnessed the opening of new Security Bank branches in coffee while browsing through our to enhance BetterBanking for customers, now and
four locations: San Lorenzo Place, Tordesillas, Port Royal Rada and banking menu or talking to any of in the future.
Capitol Commons. our Customer Service Officers and
Specialists, Universal Bankers and
Wealth Managers.

We deepen our relationships as we create value for

our customers by leveraging products and services
from our Retail Banking Segment, Financial Markets
Segment and SBC subsidiaries, as well as from the
regional and global network of MUFG and MUFG
Partner Banks.
Empowerment – Collaborative Culture – We’re in this together
On March 12, 2019, the Republic of the

Philippines through the Bureau of the
Wholesale Banking CORPORATE BANKING BANKING CENTERS
Treasury issued a total of PHP235.92
billion worth of 5-Year Retail Treasury Amid the rising global uncertainties and In 2019, the Banking Centers Group saw 8%
Bonds (RTBs) which received a strong Our Wholesale Banking Team is a trusted financial slower domestic economic growth in 2019, an 8% uptick in new-to-bank customers Uptick in
partner to some of the world’s most respected the Corporate Banking Group remained from 3,556 clients to 3,828 clients, new-to-bank
demand from the investing public.
customers
The RTBs form part of the government’s companies—from local and multinational corporations, resilient, posting a significant increase which led to its continuous growth in
proactive financing strategy. Proceeds financial institutions, to SMEs and Filipino-Chinese in revenues and returns driven mainly by volume and helped sustain its profitability.
of these issuances will help fund priority businesses. With a strong standing among our customers healthy improvements in both deposit The growth of our new-to-bank
projects aimed at enhancing the lives of and improved internal controls, we sustain growth and loan margins despite relatively flat customers came from major industries
Filipinos and developing the country's by making the most of strategic opportunities and by volumes. Our strategy remained focused such as trading, real estate, logistics and
competitiveness.
exercising the same commercial discipline which has on expanding new-to-bank customers construction. Our strategy was to capitalize
guided our operational decisions in previous years. while deepening existing relationships on our existing alliance with MUFG and
SB Capital Investment Corporation
with cross sell revenues continuing to offer cross border products.
acted as one of the Joint Issue
Managers.
We deepen our relationships as we create value for our improve steadily vis-à-vis revenues from
customers by leveraging products and services from our loan bookings. The Banking Centers played a very
Retail Banking Segment, Financial Markets Segment and important role in arranging business
SBC subsidiaries, as well as from the regional and global Aligned with the country’s domestic collaboration meetings between its clients
network of MUFG and MUFG Partner Banks. consumption-driven economy, and clients of its counterparts in Japan,
the Corporate Banking Group’s portfolio Thailand and Vietnam. This is part of the
continues to be anchored on companies Bank’s mission of empowering businesses.
leveraging on the Philippine growth story The initiative led to many notable and
around food, agriculture, utilities, successful deals and partnerships in
infrastructure and business process industries such as agriculture, food and
outsourcing. beverage and real estate.

SB Capital likewise acted as one of the issue SBML made a substantial investment in the
managers for the Bureau of the Treasury's purchase of an end-to-end leasing system. This will
PHP235.92 billion retail treasury bond (RTB) allow the business to grow exponentially as there
issue in March 2019. The issue was the largest will be less dependence on manual work and at the
retail treasury bond offering at that time. same time enable data-driven decision-making.
Empowerment – Collaborative Culture – We’re in this together Integrity – Data-driven Decisions – We do the right thing
Innovation – Reimagine Processes – We try new things
SB CAPITAL SB RENTAL
Amidst the volatilities in the domestic market scene by one of the biggest conglomerates in the Philippines, SB Rental’s leased assets portfolio grew by 29% fueled by Delays in the approval of the country's national budget
and uncertainties affecting the global economy due amounting to PHP11 billion and PHP1 billion, respectively. increased demand for transport vehicles and equipment affected our volume achievement as government
to the prolonged US-China trade impasse, we remained requirements from the private sector. These include the contractors had to postpone their acquisitions for
resilient in our business and achieved key headways in As part of its revenue diversification strategy, SB Capital medical, manufacturing, service, transport and food new equipment. Moreover, the national elections also
2019 by being involved in notable fund raising exercises rendered advisory services to both top and middle-market services sectors accounting for 79% volume contribution contributed to the wait-and-see stance predominantly
of both private and public sector clients in the capital clients involving corporate restructuring as well as for the year. SB Rental penetrated the logistics industry adopted by the contractors.
market space. sale of assets/business. SB Capital also acted as in 2019 and is expected to grow and provide support for
Arranger in the joint venture between Vista Land’s other industries to include the medical sector, which also In 2019, SBML provided lease financing to several major
SB Capital jointly arranged and underwrote several vertical development arm, Vista Residences, Inc. and contributed to the growth of assets for SB Rental in 2019. private contractors, which were not affected by the delays
multi-billion corporate bond issues of leading and Mitsubishi Estate Co., Ltd.’s subsidiary, Mitsubishi Estate in the approval of the national budget. These companies
reputable publicly-listed corporations, such as SMC Residence Co., Ltd., to develop a mixed-used, high-rise SBM LEASING were involved in the construction of airports, malls and
Global Power Holdings Corp. (PHP30 billion); Ayala condominium building. This joint venture brought together office buildings.
Land, Inc. (PHP8 billion); Aboitiz Power Corp. (PHP7.25 two of the largest real estate firms from different parts of SBM Leasing (SBML) continued to support the
billion); and Vista Land & Lifescapes Inc, (PHP10 billion). Asia and marked the Mitsubishi group's first residential government’s Build, Build, Build Program, providing SBML made a substantial investment in the purchase of
Proceeds from the bond issues were utilized by these development project in the Philippines. financing solutions to major government contractors for an end-to-end leasing system. This will allow the business
companies to fund expansions, refinance certain debt their capital asset requirements. Our stronger partnership to grow exponentially as there will be less dependence
obligations and for other general corporate purposes. During the year, SB Capital earned recognitions with Maxima Machineries Inc. (a Marubeni-owned on manual work and at the same time enable data-driven
from regional financial magazine publisher, The Asset, company) resulted in an all-time high penetration rate decision-making.
SB Capital likewise acted as one of the issue managers during the latter’s Triple A Infrastructure Country Deal in terms of credit sales. Another Marubeni affiliate,
for the Bureau of the Treasury’s PHP235.92 billion retail Awards 2019 (Philippines) held on June 24, 2019 in Hino Motors Phils. Corp., saw increased business volume While SBM Leasing fell short on its volume targets, key
treasury bond (RTB) issue in March 2019. The issue was Singapore for two landmark project finance transactions, as the total number of units financed grew by 130%. financial objectives (i.e. Revenues and Net Income After
the largest retail treasury bond offering at that time. namely (i) PPP Deal of the Year for MP CALA Holdings’ Taxes) were achieved due to close collaboration with
PHP24.2 billion Omnibus Loan and Security Facility Also presented in 2019 were new business opportunities partners in Security Bank and Marubeni affiliate Maxima
SB Capital also arranged a series of privately-placed where SB Capital was a Mandated Lead Arranger; in the financing of medical equipment, materials handling Machineries Inc. via several big-ticket finance deals that
corporate notes and syndicated loan facilities in 2019 and (ii) Transport Deal of the Year for Cebu Cordova and transport equipment. led to joint finance opportunities with the Bank.
for (i) a leading global consumer finance company and Link Expressway Corp.’s PHP19 billion Term Financing
(ii) a fast-growing residential property developer owned Facility where SB Capital was a Participating Arranger.

SB EQUITIES op Investment House for Commercial and

T
SB Equities further improved its SB Equities continued to provide upbeat,
Investment Banks, Philippines (Rank 1)
ranking for FY 2019, placing 12th overall value-adding and relevant market
(from previous year’s 15th place finish) research reports during the year to Top Sellside Firm in the Secondary Market (Rank 3)
among the 131 active members of the its clients, both institutional and retail.
Top Sales Individuals (Ranks 1 & 2)
Philippine Stock Exchange (PSE).
Consistent with its thrust of providing
We were also at par with our foreign
counterparts in terms of dealing orders
Top
clients with innovative and value-adding and speedy execution.
Bank-owned stock Top Trading Individuals (Highly Commended)
brokerage house
services, SB Equities fully implemented Philippine Stock
during the year the Direct Market Access SB Equities emerged as the top Exchange op Arranger, Philippines
T
(DMA) system, which enabled its foreign bank-owned stock brokerage house for (Rank 4 in Investor’s Choice for Primary Issues)
institutional clients to seamlessly execute the year 2019 by PSE (versus 2018’s
and directly confirm orders through us. second-place finish) with value turnover Top Investment House, Banks (Rank 4)
Out of the 131 active PSE member-brokers, amounting to PHP130.5 billion, or 3.68%
only less than 10 brokerage houses of the total industry value turnover. Asset Asian Local Currency and G3 Bond Awards, Singapore
can provide the DMA facility to foreign
institutional clients.
TRANSACTION BANKING GROUP
Financial Markets
On a year-over-year basis, our Cash
Management business grew more than
To provide clients with a better online
banking experience, TBG completed 20%
20% in 2019. Collections posted an the DigiBanker 2.0 user experience Growth in Cash
increase of 25% in terms of transaction transformation, which started in 2017. Management Our ability to build and sustain solid relationships, optimize our global
business
value while disbursements went up by Highlights of the new interface included reach and utilize our deep knowledge of the local financial landscape
46% in terms of transaction count. a redesigned landing page, simplified allows us to provide our clients with comprehensive product offerings
buttons for easy navigation, and that keep pace with their growth in an ever-changing financial climate.
Additional sales managers were hired in convenient payroll processing. As an active market player, we capture opportunities, ensure that our
2019; hence, sales coverage and deals clients get the right support at the right time and effectively manage
output improved. Our relationship As we continued to focus on the liquidity and risk against a backdrop of a fast-changing external
partners continued to refer more clients enhancement of DigiBanker, we strove environment. We will continue our investment awareness campaigns
to us, as they became more comfortable to provide an improved customer targeting retail and institutional investors and enhance our digital
in offering our products and services. experience and set up a dedicated channels to provide them with efficient tools to manage their
Cash Management closed and implemented helpdesk to assist clients on cash investments and daily transactions. We will expand our investment
more deals which resulted in substantial management queries. We also increased products by offering new Unit Investment Trust Funds (UITFs) and
growth of throughput volume. our sales force to widen our reach and improve the Bank’s overall funding efficiency through various
service more customer requirements. initiatives including Long Term Negotiable Certificates of Deposit
In 2019, we continued to exemplify (LTNCDs) and Peso Bonds.
our BetterBanking promise. We were In 2020, the Cash Management Team’s
recognized by The Asset Triple A as efforts will focus on providing a more The Financial Market Segment endeavors to deliver on our
the Best Service Provider (E-Solutions robust suite of products and services. BetterBanking promise by offering value-driven, innovative and
Partner) in the country for our DigiBanker To stay on top of the competition, varied investment and hedging opportunities to its current and
Utility e-Payments. we plan to add more features to our prospective clients. The Segment aims to continuously provide
disbursement and collection products. customer-centered products and services by merging technological
We are also streamlining our operations advancements and expanding business opportunities with its standard
through outsourcing in order to scale best practices. Security Bank envisions to be one of the leading universal
faster and more efficiently. banks in the country, bringing BetterBanking promise and making this
available to every Filipino.

The issuances support our commitment to Since 2017, the UITFs managed by the TAMG
BetterBanking by providing investment alternatives (SB Funds) have ranked among the top three
to our valued investors, astutely managing our in terms of full year return on investments.
asset-liability profile and growing our assets. Execution Excellence – Flawless Execution – We do it right
People – Shareholder Value – We listen
TREASURY TRUST AND ASSET MANAGEMENT GROUP
We sustained our BetterBanking promise by satisfying risk-reward profiles and recommending client-tailored As the Investment and Fund Manager, the overall purpose of the Trust
our customers’ needs, engaging in client-driven strategies to help them achieve their personal and and Asset Management Group (TAMG) is to help the Bank’s customers,
initiatives and programs and providing attractive company-wide investment and savings objectives. both institutions/corporations and individuals. TAMG aims to help them
investment opportunities. achieve their financial goals and prepare for their future by providing
We continued to solidify our market presence in the them with a complete line of investment products and trust solutions,
We raised term funding and diversified Security Bank’s inter-dealer and broker-dealer markets, being recognized and deliver better than benchmark returns on their investments.
funding base throughout 2019 by successfully issuing as among the country’s top 10 “Market Makers” under
Fixed Rate Peso Corporate Bonds and Long-Term the Enhanced Government Securities Eligible Dealers We concluded the year 2019 with some critical and strategically important
Negotiable Certificates of Deposit (LTNCDs). (GSEDs) program of the Bureau of the Treasury (BTR). initiatives completed and delivered to our customers:
We initially announced our intention to raise only Security Bank was selected based on its performance in
PHP5 billion-worth of Fixed Rate Peso Corporate bonds the primary and secondary government security markets 1. Successful implementation of the Financial Statement reporting from
with a tenor of two years. After attracting strong demand and the support it extended to various initiatives of BTR PAS to PFRS 9 for the segregated managed accounts;
from retail investors and other institutional accounts, to develop the local currency debt market. 2. Increased digital presence as we have established weekly live feeds
we exercised our oversubscription option and raised that promote financial wellness to both existing and interested
PHP18 billion, delivering the Bank’s largest domestic During the year in review, we showcased our dedication investors of our funds;
issuance in its 68-year history, with a coupon of 5.875% to execution excellence and innovation as evidenced by 3. Retirement fund events geared towards creating awareness and
and a maturity date at June 28, 2021. various accolades we received. understanding for our corporate clients;
4. For three years in a row, outperformed the other UITFs in terms of
We also raised an aggregate of PHP8.37 billion by We bagged institutional and individual awards during return on investments.
issuing two tranches of LTNCDs at PHP6.06 billion and The Asset Asian Local Currency and G3 Bond Awards
PHP2.31 billion, respectively, at the tail end of 2019. held in Singapore. These included: Since 2017, the UITFs managed by the TAMG (SB Funds) have ranked
We priced our LTNCDs at 4.0% per annum with a tenor among the top three in terms of full year return on investments. For the
of 5.5 years. The issuances support our commitment • Top Investment House for Commercial and years 2017 and 2018, its SB Peso Equity Fund and SB Peso High Dividend
to BetterBanking by providing investment alternatives to Investment Banks, Philippines (Rank 1); Equity Fund ranked first and second among comparable UITFs offered in
our valued investors, astutely managing our asset-liability • Top Sellside Firm in the Secondary Market (Rank 3); the market. In 2019, its SB Bond Fund ranked first for the Peso Bond Fund
profile and growing our assets. • Top Sales Individuals (Ranks 1 & 2); category, ranked second for its SB Dollar Bond Fund for the Dollar Bond
• Top Trading Individuals (Highly Commended); category and third for its SB Variety Fund for the Balanced Fund category
Our Treasury Group aggressively participated in the • Top Arranger, Philippines of UITFs offered in the market.
Retail Treasury Bond offering issued by the Bureau of (Rank 4 in Investor’s Choice for Primary Issues);
the Treasury, the PHP235 billion RTB Series 22, and in • Top Investment House, Banks (Rank 4). In 2020, the TAMG aims to continue to best its peers with its SB Funds’
several primary issuances of Corporate Bonds for the and its managed accounts’ return performance while boosting its online
year, including Aboitiz Power Corporation, Ayala Land, We were also recognized as Top Fixed-Income Cash presence. We believe that delivering consistent returns while reinforcing
SMC Global Power, Petron Corporation and Vista Land Settlement Bank in the Philippines (Rank 1) during the our digital presence will be key to securing significant growth in our
Corporation. The variety in investment choices allowed 2019 PDS Annual Awards. We were cited by Asiamoney FX Assets Under Management.
us to forge strong relationships with our clientele by Survey 2019 as among the Top Foreign Exchange Banks in
understanding their individual business needs as well as the country and among Asian Banks.

Several conferences and knowledge-sharing

meetings with other Partner Banks of MUFG
contributed to SBC's enhanced products and
services, especially in Transaction Banking
and Consumer Finance.
Empowerment – Collaborative Culture – We're in this together
MUFG Collaboration the improvement of SBC’s interest rate risk management framework prior
to the local regulation implementation. Moreover, EWI (Early Warning
– Alliance Segment Indicator) monitoring by MUFG supported retail credit risk management
at SBC. Moreover, active interaction to share and leverage a mutual
knowledge base brought about refinement of SBC’s cybersecurity
Security Bank marked its fourth year of collaboration with Mitsubishi framework and amplified the IT audit practices through on-the-job
UFJ Financial Group (MUFG), Japan's largest financial group, in 2019. training with MUFG.
The collaboration resulted in remarkable progress in several areas
such as Retail Banking, Wholesale Banking, Cross-sell from Wholesale The collaboration platform with other Partner Banks of MUFG was
to Retail and Risk Management. enhanced and best practices were exchanged. Several conferences
and knowledge-sharing meetings with other Partner Banks of MUFG
In the areas of Retail and Wholesale Banking, the collaboration resulted contributed to SBC's enhanced products and services, especially in
in the expansion of relationships with Japanese corporates to include Transaction Banking and Consumer Finance.
their employees and ecosystem. The Segment engaged in deals including
a joint venture between a Japanese Corporate to Philippine Corporate In August 2019, SBC announced its strategic partnership with Thailand’s
in the real estate industry, Philippine market expansion in the retail and Bank of Ayudhya, otherwise known as Krungsri, the number one consumer
automotive industries and entry into the infrastructure business where the finance provider in Thailand, with presence in Laos, Cambodia and
bulk of investments from Japan including Official Development Assistance Myanmar. Both banks have MUFG Bank, Ltd. as a common shareholder.
(ODA) have come from. The partnership intends to provide top-notch consumer finance products
to more Filipinos and plans to explore opportunities in personal loans,
For Risk Management, advanced knowledge sharing from MUFG on the motorcycle loans and insurance, while leveraging on Krungsri’s expertise
concept of IRRBB (Interest Rate Risk in the Banking Book) expedited in the ASEAN retail finance market.

4
sustainability report
BetterBanking is
Responsible Banking
What Sustainability Means to Us
The Banking and Financial Services industry is a business of trust and of growth.
It is in this spirit that Security Bank affirms its desire to work towards ensuring
sustainable growth for the organization, the industry, the economy and
the communities it caters to.
Our approach to ensuring sustainable growth is anchored on our BetterBanking

promise that is characterized by an unwavering commitment to providing excellent
service to our clients. We believe our commitment to quality service has a positive
long-term impact for both the Bank and its stakeholders. We therefore consider
what we do to be conscious investments towards our shared bright and
sustainable future.
This commitment is supported by right behaviors and best practice standards.

It is inspired by a desire to fulfill our mission of enriching lives, empowering
businesses and building communities.
Our strategies are designed based on how we want to uphold our commitment
to service and fulfill the different aspects of our mission as a bank. At the same
time, building trust and doing things right mean ensuring rigorous corporate
governance and accountability.
We recognize all these as essential especially as the industry and global markets
are enjoying technological breakthroughs that shape future markets.
Reporting Parameters
GRI 102-50. GRI 102-54 Our Bank’s mission is made real by value-driven and inclusive leadership and
initiatives. Moreover, it is a constantly evolving and improving process that is
This report has been prepared in accordance with the GRI Standards: Core guided by the Global Reporting Initiative (GRI) frameworks and the United Nations’
option. It covers the period of January 1, 2019 to December 31, 2019. It aims to Sustainable Development Goals.
present Security Bank’s economic, environmental and social initiatives and
performance, which collectively comprise our BetterBanking promise. We are all partners in striving to reach goals that work for the greater good.

sustainability report sustainability report
Engaging with Our Stakeholders

GRI 102-40, GRI 102-42, GRI 102-43, GRI 102-44
In this sustainability journey, everything begins with building high-trust relationships with our stakeholders.
The work we do on a daily basis is defined Security Bank recognizes as essential and mutually Thus, we offer a variety of accessible communication
by our values and inspired by our mission to beneficial the relationships that it maintains with various channels and create opportunities to interact and
stakeholders—from investors to clients and depositors, engage with various stakeholders. With this, we aim
deliver BetterBanking to people, businesses from regulators to vendors and suppliers, from employees to ensure transparency and credibility that are needed
and communities. to local communities where we do business. in maintaining trust in our relationships.
People • Integrity • Empowerment • Innovation • Execution Excellence
Stakeholders Mode of Engagement Frequency Concerns/Expectations Response

Customers • Call center As necessary • Accessibility and convenience • Self-service facilities
• Website • Speed & quality of service • New features for digital channels
• Relationship teams • Better product features • Streamlining current standards
• Social media • Financial advice of service
• Branches • Creation or improvement of products
based on customer feedback
• E-mail
• Employee training
• SMS
Employees • Regular meetings As necessary • Focus on work-life balance • Events: Annual Family Day
• Letters/correspondence to • Personal development Christmas Party/Sports
BetterBanking for employees • Health and wellness • Service Tenure Awards
Sustainable Growth • Health advisories • Recognition: Outstanding

Security Bankers’ Achievement
• Employee engagement
activities and Milestone Awards
Service is Security Bank's primary differentiator. • Focus Group Discussions • CSR/Environmental
volunteerism activities
The work we do on a daily basis is defined by our values
and inspired by our mission to deliver BetterBanking to Industry • Membership meetings As scheduled • Sharing of industry updates, • Active participation relating to
Associations standards, best practices policy matters
people, businesses and communities.
and concerns
Regulators • Regular discussions As necessary • Compliance with laws • Timely and accurate release of reports
We are guided by the Global Reporting Initiative (GRI) • Annual examinations and regulations • Compliance with regulations
reporting principles which revolve around inclusivity, and audits • Impact of new initiatives • Response to regulatory queries
• Correspondence and e-mails and policies
context, materiality and completeness, allowing
stakeholders to track the progress of our
Local • Corporate Social As necessary • Involvement of community • Establishment of relationship with
sustainability journey. Communities Responsibility programs stakeholders in key stakeholders in the communities
(development, implementation • Integrated and multi-stakeholder
implementation, • Quality education approach to program implementation
Everyone in Security Bank plays a key role in fulfilling the monitoring and in community • Measurement of program outcome
organization’s BetterBanking promise and following its evaluation)
• Upliftment of the quality and impact
path of sustainable growth. This report therefore consists of life in the communities
of sections defined by the material topics that address Media • Press statements/releases As necessary • Product brief/details • Availability of spokespersons
our stakeholders’ concerns: • Press briefings/roundtable • Transparency • Press kits with fact sheets and
• Interviews • Factual information profile of speakers
• Media rounds • Timely release of • Market information
• How have we ENRICHED LIVES? announcements
• Media events
• How have we EMPOWERED BUSINESSES?
• How have we helped BUILD COMMUNITIES? Partners • Letters/correspondence As necessary • Transparency in disclosures • Regular disclosure of
• Alignment of advocacies overall performance
Shareholders/ • Annual meetings • Annual • Financial returns & • Stable dividends
Investors • Investor briefings & • Monthly shareholder value • Regular, timely & transparent
communications • On demand • Minimum risks related to disclosures of financial performance
business & expansion • Investment outlets
• As scheduled
• Immediate response to
investors’ queries
Suppliers • Letters/correspondence As necessary • Transparency in accreditation • Clear and transparent accreditation
• Meetings • Integrity of bids • Audited bidding process
• Timeliness of payments

Sustainability Topics Material for Organization Our Contribution to the Economy and to the UN SDGs
GRI 102-46, GRI 102-47 GRI 103-1, GRI 103-2, GRI 103-3
A key reporting principle advocated by These provide a conceptual framework that helps us As a responsible corporate citizen, As enablers of innovators and sustainable entrepreneurs
the GRI is “materiality” or the “principle assess the “organization’s overall mission and competitive Security Bank helps provide quality and industries, banking and finance institutions, such as
that determines which relevant topics are strategy, and the concerns expressed directly by employment for people, pays correct local Security Bank, serve a role in enabling change at a scale
sufficiently important that it is essential stakeholders” culled from the information and insights and national taxes and stands as a sound that is necessary to reach a tipping point, that is capable of
to report on them.” gathered through all the communication channels and and sensible option for the investing public. producing long-term impact for more people.
stakeholder engagements.
The topics discussed in this report are Moreover, Security Bank would like In terms of specific economic aspects, which rank high
therefore organized into the following For 2019, the critical material topics remained those to contribute to the United Nations' in materiality for our stakeholders, the Bank is happy to
themes: focused on the brand promise of BetterBanking, putting Sustainable Development Goals 2030 report on its performance on these and do so thoroughly
people at the heart of our business strategy. It is important agenda by influencing businesses and in the succeeding sections. In particular, the top three
• Providing Excellent Service for our stakeholders to know that Security Bank maintains industries towards active support for economic aspects—Risk Management, New Products
• Empowering Businesses quality of service, that it treats clients and employees right, positive changes. and Services/Product Innovation and Ethics—are
• Enriching Lives that it is innovative and agile, ethical and responsible and comprehensively discussed on pages 40, 93 and 103.
• Building Communities able to protect customer data and information. Through the judicious and responsible
conduct of our business, the Bank can help, For this section, this Sustainability Report offers our
through ways big and small, to promote readers pertinent information on the Bank’s Economic
sustainable solutions, quality education, Value Distribution for deeper appreciation of its impact
ECONOMIC financial inclusivity and economic freedom in the context of national development.
1 Risk Management that are key to reaching many of the goals,
2 New Products and Services 1-7 1-4
especially for the following targets: As an economic partner for the Philippines, Security Bank
3 Ethics and Governance
generates and distributes economic value to various
4 Product Innovation 6
8 5 stakeholders, namely, to its employees in the form of
5 Responsible Lending
6 Data Privacy/Information Security Internal 7 salaries; to government in the form of taxes; to suppliers
7 Responsible Investment 1 9 and contractors for products and services; to its investors
Significant to Stakeholders
8 Corruption 2 in the form of dividends; and to the disadvantaged sectors

9 Supply Chain Management of society in the form of charitable contributions through
8 3
the Security Bank Foundation.
ENVIRONMENTAL
1 Climate Change Impact on Business
2 Resource Efficiency
(Energy, Water, Emissions)
3 Electronic Waste
SOCIAL
1 Customer Complaints
2 Customer Service Economic Value Distribution GRI 201-1, GRI 103
3 Consumer Data Protection Economic Impact in PHP Million 2019 % of Total 2018 % of Total 2017 % of Total
4 Employee Training and Skills Development
Direct Economic Value distributed 19,685 100% 15,978 100% 14,746 100%
5 Work-Life Balance/Employee Wellness
6 Decent Employment and Labor Practices Salaries paid to employees 5,581 28% 4,939 31% 4,259 29%
7 Community Development Taxes paid to government 6,050 31% 3,843 24% 3,890 26%
Significant to Bank Operations
Amount paid to suppliers/contractors 5,579 28% 4,824 30% 4,100 28%
Dividends paid to shareholders 2,265 12% 2,265 14% 2,265 15%

DIVIDEND POLICY
Value is even more directly shared through

the dividends that are paid out to the
Bank’s shareholders and investors. As a
policy, Security Bank declares and pays
out dividends from the earned surplus
or net profits of the Bank as often and at
such times as the Board of Directors may
determine, with total dividend pay-outs
ranging from 15% to 30% of the prior
year’s Net Income After Taxes (NIAT).
A Conservative Dividend Policy enables

the Bank to weather the uncertainties
and volatilities in the market, comply with
the tighter requirements of Basel III and BetterBanking Means
the Bangko Sentral ng Pilipinas, maintain
strong credit ratings, minimize the need Providing Excellent Service
for capital calls in the medium-term GRI 103-1, GRI 103-2, GRI 103-3
and provide a capital base for business
expansion that will create value over the
long-term for all stakeholders. Customer Service and Customer Complaints
GRI 418-1
The Dividend Policy and the Bank’s
management of capital structure is BetterBanking is synonymous with sustainable banking because it means
responsive to changes in economic being able to meet the needs of our customers now and in the future.
conditions, risk characteristics of activities It means practicing the corporate principle of carrying out our operations
and assessment of prospective business and activities with conscious consideration for the social impact of
directions. Capital management begins providing excellent service and superior customer experience for all.
with an assessment of regulatory capital
and capital adequacy, followed by the For the past three years, we have used Kaizen, or the principle of
determination of the optimal capital Continuous Improvement as a strategy in proactively working and
structure based on a risk-based capital achieving continuous and incremental improvements in Security Bank’s
planning approach that takes into processes, with the aim of enhancing customer service quality at all levels.
consideration risk appetite, risk exposures,
provision of a capital buffer, capital mix, This methodology includes listening to the Voice of the Customer (VOC),
leverage, target ROE, opportunities in the Voice of the Employee (VOE), Voice of the Business (VOB), as well as
capital markets and sustainability. to the documented complaints that help us identify proactive measures
that can enhance our processes.
VOC is a process used to capture the customer’s expectations, preferences

Stockholder’s Data 2019 2018 2017
and aversions through telephone, online and client intercept surveys.
Earnings per share (PHP) 13.40 11.42 13.62 Through insights from the feedback reflected in VOC, we acquire data
Cash dividends declared (PHP million) 2,265 2,265 2,265 and are able to validate the top drivers for dissatisfaction. With these data,
Cash dividends per common share (PHP) 3.00 3.00 3.00 we come up with appropriate process improvement projects to avoid
Cash dividends per preferred share July 10 issue (PHP) 0.0039 0.0039 0.0039 recurrence and improve the customer experience. The VOC also allows
us to determine employees who were able to provide our BetterBanking
Cash dividends per preferred share April 1 issue (PHP) 0.004805 0.004805 0.004805
service, which are endorsed to our SBC Compliments Program for
Stock dividends paid None None None appropriate recognition.

Summary of VOC The SBC Compliments Program is an award given NEW PRODUCTS AND SERVICES | PRODUCT INNOVATION
Year Customer Satisfaction Net Promoter Score to any employee or a team who is commended by
90% their external and internal customers. It’s a monthly With the Fourth Industrial Revolution and the global digital transformation being
+67 recognition program that acknowledges and recognizes experienced by markets and individuals across the globe, Security Bank continues
(62% Very Satisfied
2019 (74% Promoters - “BetterBanking Service” role models while reinforcing to offer new products and services to help our customers make their path to
+ 28% somewhat
7% Detractors) that delivering superior service is our commitment to all financial health faster and with more ease.
satisfied)
our customers. This also boosts employee morale as it
89% +57
is another avenue to recognize Security Bankers who In 2019, we launched several innovative products and services to deliver the
2018 (52% Very Satisfied + (64% Promoters -
excelled in their performance. We received a total of 1,635 BetterBanking promise:
37% somewhat satisfied) 7% Detractors)
nominations in 2019: 1,140 nominations for Individuals and
95% +62 Three Domain Secure
495 nominations for Groups, from which the awardees Salary Advance Enhancements
2017 (68% Very Satisfied + (67% Promoters - One-Time-Password (3DS-OTP)
were chosen by the selection committee. There were 456 We introduced an online status checker
27% somewhat satisfied) 5% Detractors) This innovative feature secures online
Individual awardees and 33 Group awardees. that makes it easier for clients to check
the status of their loan application without transactions and purchases for clients.
having to call or wait for an SMS update With the increase in online purchases,
on the loan approval. The enhancement OTPs give our clients confidence on the
stemmed from analyzing top call drivers security of their digital transactions.
In 2019, we also added the Customer Journey Map (CJM) As the Bank aims to resolve customer complaints in for the product and from insights gathered
as a new strategy for process improvement. The CJM the shortest time possible, we monitor our performance from customer satisfaction surveys.
provides a complete picture of the customer journey, and track complaints with an eye for constant process
thus giving a more holistic approach to improving the improvement. We utilize a data-driven mindset and use Online Payroll Account Opening Deployment of
experience of our customers. As a result, we improved metrics or key performance indicators (KPIs) to measure We simplified how employees open Cash Acceptance Machines
our metrics and saved costs. resolution of client's complaints to ensure that we keep an account which no longer relied on To provide convenient 24/7 cash deposit
our BetterBanking promise. corporate HR teams to send bank details services, we deployed cash acceptance
Data from VOC also help us develop fresh ideas of each employee. The new online machines in several major shopping
to expand platforms and channels for us to deliver process simplifies the work for HR and malls. Since cash deposits is one of the
customer service, whether in physical facilities or ensures data captured are up-to-date. top transaction drivers, providing other
through online options, or even a combination of both. Resolution of Customer Complaints For companies with more than 10,000 channels makes banking more convenient
A good example is the Skype Nook, which we set up in 2019 2018 2017 employees, this innovation offers faster for our customers.
our branches. The Skype Nook allows clients to easily 86% 90% 81% and simpler migration.
Resolution
and directly engage with an Investment Specialist (vs target (vs target (vs target
Rate
using the online Skype facility. of 85%) of 85%) of 85%)
2% 1% 1%
Meanwhile, we have also learned a lot about our Overdue
(vs target (vs target (vs target
customers’ needs and we have gathered valuable Bucket Rate
of 5%) of 5%) of 5%)
data through our complaints management system.
Problem 5% 4% 2%
Incidence (vs target (vs target (vs target
The system we use was patterned after the standards
Rate of 5%) of 5%) of 5%)
of BSP Circular No. 1048 which promulgates the
following: Regulations on Financial Consumer Protection, Feedback
94% - -
Guidelines and Procedures Governing the Consumer Rate
Assistance and Management System of BSP-Supervised
Financial Institutions, and Amendments to the Manual of
Regulations for Banks and Non-Bank Financial Institutions. The 4-percentage point dip in the 2019 Resolution Rate
was identified to be due to minor issues such as the
Therefore, while the Service Quality unit initially covered migration of the Bank’s Credit Card System that created
only Retail Banking clients, it now also handles complaints expected pain points during its initial launch.
from Bancassurance, Trust, Treasury, Branch Corporates, Nonetheless, concerns were ultimately addressed.
W2R customers and corporate clients from the Transaction Radical improvements are expected to recoup greater
Banking Group. yields for long-term benefits.

We are constantly improving our processes, technologies

and people's knowledge and skills to ensure that we cope
with advances on cybersecurity threats and vulnerabilities.
Security Bank monitors cybersecurity threats such as
Phishing, Malware, Distributed Denial-of-Service (DDoS),
etc., via our Security Operations Center and various
cybersecurity tools.
Integrity – Data-Driven Decisions – We do the right thing
Execution Excellence – Persistent Improvement – We do it right
CONSUMER DATA PROTECTION | DATA PRIVACY AND INFORMATION SECURITY

GRI 418-1
Data Privacy and Protection, Information Security and For instance, in 2019, we received
Cybersecurity are essential to maintaining the high-trust complaints from 11 clients who did not
relationship we have with our stakeholders. apply for credit cards but received a
notification that they have a pending BetterBanking Means
Security Bank’s information security framework is application or approved credit cards.
aligned with ISO 27001 while our cybersecurity framework Upon review and investigation, it was Empowering Businesses
is aligned with the National Institute of Standards and revealed that the cases were caused by
Technology (NIST) Cybersecurity Framework. our Third-Party Sales Agency who used
In compliance with regulatory requirement, our program client’s information and forged applications. As an ideal, we see BetterBanking as leading the way to building a strong
is also aligned with BSP Circular 982 on enhanced The Agency was consequently penalized and resilient economy that people can rely on and anchor their dreams
guidelines on information security management issued in accordance to the Memorandum of upon. That is why the consistent and stringent practice of our Corporate
in 2017, which states that incident reporting should be Agreement with the Bank. Governance and Risk Management policies (see pages 93–110) remains
integral to industry players’ incident management plans. key to our BetterBanking promise.
Furthermore, the Customer Care
We are constantly improving our processes, technologies Department SQ-CCU created a new Security Bank’s commitment to transparency and accountability has
and people's knowledge and skills to ensure that we cope Service Level Agreement and process been recognized by partners and stakeholders in the Philippine financial
with advances on cybersecurity threats and vulnerabilities. framework to effectively handle other industry as we garnered a 1-arrow recognition as one of the high scorers
Security Bank monitors cybersecurity threats such as potential cases in collaboration with on the ASEAN Corporate Governance Scorecard (ACGS).
Phishing, Malware, Distributed Denial-of-Service (DDoS), key stakeholders—Frontline CCG,
etc., via our Security Operations Center and various Fraud Team and Card Operations. ACGS is an instrument used for the assessment and ranking of publicly
cybersecurity tools. They also revisited past agreements listed companies (PLCs) in the ASEAN. It aims to raise the corporate
with Third Party Sales vendor and governance standards and practices among ASEAN PLCs, making
The Bank’s risk management programs, such as those increased the penalties to provide well-governed ASEAN PLCs attractive to investors and promoting
covering Incidents Management, Risk Assessment and stronger deterrence to such practices. ASEAN as an investment asset class. The Scorecard was benchmarked
Monitoring, and incident reporting to Senior Management against international best practices that encourage PLCs to go beyond
and Board Committees put us on a constant state of national legislative requirements.
alertness and readiness to act on them.

We brought together our Security Bank political

economist, macro and microeconomics analysts
and experts, and subject-matter experts from the
area. This is part of our BetterBanking commitment,
a value-add to clients that supports their everyday
business decisions.
Empowerment – Collaborative Culture – We’re in this together
Furthermore, Security Bank received a Special Citation The Roadshow is one of Security Bank’s initiatives to The third forum, held in Makati, continued the discussion
for Prudential Reporting Innovation from the Bangko arm business leaders with information to make the best on infrastructure from local and regional perspectives
Sentral ng Pilipinas (BSP). This citation recognizes business and financial decisions. The Bank is optimistic including future-readiness. Speakers from various sectors
Security Bank’s participation in the successful pilot run that the discourse will help our clients build a mindset concurred that business leaders must be aware of current
of the BSP’s Financial Institution Portal (FI Portal). capable of fostering a strong economy amid disruptions. industry trends, especially of technological disruption
Best This commitment was likewise recognized by industry We revised our Economic Forum to make it more
and use it to their advantage in order to grow their
businesses. Future-proofing and adapting to disruption
Investor observers that have conferred Security Bank with awards

such as Best Investor Relations (IR) Company (Philippines)
interesting and relevant to its participants. We deemed
it important to include political developments and risks
can help create a frictionless environment that will
create sustainable growth.
Relations for the fifth successive year, Best CEO for IR (Philippines)
and Best IR Professional (Philippines) at the 9th Asian
as necessary in helping the participants in the forum to
make informed business decisions. We brought together Security Bank also strengthened its presence in Western
Company Excellence Awards held at JW Marriott Hotel

in Hong Kong.
our Security Bank political economist, macro and
microeconomics analysts and experts, and subject-matter
Visayas as it held the fourth forum in Iloilo City—the first
forum of the Bank outside Luzon. Iloilo City has become
for the 5th successive year experts from the area. This is part of our BetterBanking the premier gateway to Visayas, with a growing hub for
Corporate Governance Asia (CGA), the organizer behind commitment, a value-add to clients that supports BPOs, real estate companies and SMEs, among the others.
the prestigious award-giving body, lauded Security Bank their everyday business decisions. It is becoming one of the future-cities because of its
for upholding transparency and accountability in corporate progressive policies. The city must know what challenges
governance. On top of regulatory compliance, CGA praised The Roadshow kicked off in Clark, Pampanga. The forum it may face to create solutions to tackle these disruptions.
Security Bank’s efforts in ensuring greater accessibility discussed dynamics between policies and decisions that
of its customer-centric products and services to the currently shape the country’s economy, as well as local The concluding forum was held in the gateway of
banking public through several transformation and issues, such as inflation, agricultural performance and Northern Mindanao, Cagayan de Oro. The discussion
digitalization initiatives. exports-imports. Clark also continues to be an investment revolved around the main drivers for sustainable and
destination for the real estate industry, in congruence inclusive development in the region, as well as current
An important part of this campaign is our drive to with the developments in the New Clark City. All the and prospects, opportunities and challenges in CDO
empower businesses and industries around the country— infrastructure support systems are in place along with the and Mindanao. CDO has continued to impress with the
with information, knowledge and connections that will absorptive capacity for new businesses and tourism. city’s ability to support a seaport, land and transportation
help them create data-driven strategies for growth. infrastructures, economic zones, air transportation facilities
Infrastructure was a recurring theme in the second and other economic support structures.
Security Bank Corporation hosted its annual Economic Economic Forum in Quezon City as it highlighted the
Forum Roadshow in key investments hubs in the Build, Build, Build program of the government in Metro This year’s nationwide Roadshow was successful in
Philippines. These nationwide discussions were Manila and its impact on various businesses nationwide. promoting inclusivity of our BetterBanking commitments.
strategically held in the country's prime growth areas: The program is seen as a boon for the national economy
Clark, Quezon City and Makati in Luzon; Iloilo in the because of the expected improvements in connectivity
Visayas; and Cagayan de Oro in Mindanao. Around 200 between key investment hubs across the country.
delegates per city took part in the economic fora.

RESPONSIBLE LENDING
With an informed market, Security Bank is better positioned to be

the partner for sustainable growth. As an efficient and conscientious Best Bank
financial intermediary, the Bank contributes to economic development
by supporting and equipping a wide range of industries with the essential for SMEs BetterBanking
resources for growth. Award by Asiamoney and
Alpha Southeast Asia Awards
Means Enriching Lives
The Bank’s lending practices are anchored on the principles of
Responsible Lending based on loan-to-value ratio, risk management,
as well as the financial system’s resilience against unforeseen market Enabling Our People to Grow and Thrive
problems. These practices have kept the Bank’s portfolio of loans GRI 404-1, GRI 103-1, GRI 103-2, GRI 103-3, GRI 102-41
with a healthy spread of businesses and industries to support and
help develop sustainably. By 2019, Security Bank’s workforce had grown to over 6,625-strong. Alongside business
operations, our employee-base grew by around 12%, even with an attrition rate of 12.48%.
In 2019, Security Bank was cited as the Best Bank for SMEs in the
Philippines by Asiamoney and Alpha Southeast Asia Awards. The award We have managed to maintain the male to female gender ratio at about 1:2, reflecting the
showcases the Bank’s initiative to further grow the various businesses standard talent pool in the industry and no gender bias on the part of recruitment.
in the country, especially small-medium enterprises (SMEs), through This ratio remains mostly stable even when looking at leadership roles as the same ratio
empowerment. The Bank actively partners with franchise associations is maintained in the middle management level, while staying close to the same ratio at the
and trade unions to deliver business solutions and to educate its clients. senior management level. Notably, we have seen 46 women leaders moving up to senior
positions in the last year.
Loans Distributed by Industry Sector
Industry Sector 2019 2018
Real estate 21.1% 20.3% GRI 102-8, GRI 405-1, GRI 102-7
Electricity, gas, stream and air
Employee Distribution by Gender
conditioning supply 16.7% 17.5%
Corporate Wide Region Wide
Wholesale and retail trade 16.0% 16.4% Gender Wide Full Time
Corporate Branch
Activities of private households as Distribution Contract Luzon Visayas Mindanao
Office Office
employees and undifferentiated goods
2019
and services and producing activities
of households 13.0% 6.8% Male 2,125 1,007 1,118 1,787 115 223
Manufacturing 8.7% 11.4% Female 4,500 1,806 2,694 3,935 292 273
Financial intermediaries 7.2% 8.4% TOTAL 6,625 2,813 3,812 5,722 407 496
Construction 3.7% 3.7% 2018
Transportation and storage 3.2% 2.9% Male 1,876 865 1,011 1,591 110 175
Information and communication 3.0% 3.3% Female 4,027 1,524 2,503 3,518 253 256
Agriculture, hunting and fishing 2.1% 2.2% TOTAL 5,903 2,389 3,514 5,109 363 431
Professional scientific & technical services 1.3% 1.4% 2017
Water supply, sewerage, waste management Male 1,732 804 928 1,461 102 169
and remediation activities 0.8% 1.2% Female 3,705 1,352 2,353 3,230 232 243
Others 3.2% 4.6% TOTAL 5,437 2,156 3,281 4,691 334 412
TOTAL 100.0% 100.0%

2019 Employee Distribution

Employee Distribution by Rank
Rank
By Office MALE FEMALE
Gender Age Range Middle Senior TOTAL
Staff
Management Management
Corporate Office 1,007 1,806
2019
<20-30 664 397 2 1,063 Branch Office 1,118 2,694
<30-39 72 505 72 649

By Region
Male <40-50 8 140 128 276
<50-60 3 56 71 130 Luzon 1,787 3,935
<60 0 1 6 7
Visayas 115 292
<20-30 1,721 794 4 2,519
<30-39 137 1,018 99 1,254 Mindanao 223 273
Female <40-50 6 297 197 500
<50-60 0 84 114 198 By Rank
<60 0 3 26 29
TOTAL 2,611 3,295 719 6,625 Staff 747 1,864
2018 Middle 1,099 2,196

<20-30 570 423 5 998 Management
Senior 279 440
<30-39 36 412 75 523 Management
Male <40-50 4 122 130 256
By Age
<50-60 4 40 50 94
<60 0 0 5 5 <20-30 1063 2,519
<20-30 1,536 846 9 2,391
<30-39 649 1,254
<30-39 88 832 95 1,015
Female <40-50 5 252 186 443 <40-50 276 500
<50-60 0 60 99 159 <50-60 130 198

<60 0 0 19 19
<60 7 29
TOTAL 2,243 2,987 673 5,903
2017
<20-30 497 366 2 865
<30-39 38 400 65 503
Male <40-50
<50-60
3
4
144
43
115
44
262
91
2,125 4,500
Total Male Total Female
<60 1 0 10 11 Employees Employees
<20-30 1,313 734 4 2,064
<30-39 99 831 80 1,010
Female <40-50 3 267 165 435
<50-60 0 68 101 169
<60 0 2 25 27
TOTAL 1,958 2,868 611 5,437

GRI 103-1, GRI 103-2, GRI 103-3, GRI 404-2 In support of their continuous development, we provide Security Bank also provides new hires and incumbent
Training on Anti-Corruption Policies
Aside from pursuing gender balance and inclusivity in people with opportunities to grow and learn through the employees guidance on important governance and
Type of % of
the workplace, as people leaders, we also have programs many training programs we offer throughout the year anti-corruption policies, such as those that cover the Topic
Training Employees
that make people want to stay and grow with us. We have and implemented through the SBC Academy which Code of Conduct, Conflict of Interest, Fraud Awareness,
effective employee retention programs, such as providing was launched back in 2013. Operational Risk Awareness, Financial Consumer Fraud Awareness 97
learning and training programs, doing industry salary Protection and the Anti-Money Laundering Act of 2012 Operational
86
benchmarking, maintaining a Performance Management The SBC Academy was able to produce on the average (AMLA). In 2019, we were able to conduct eLearning Risk Awareness
eLearning for
System, prioritizing internal job postings and conducting five trainings days per employee, bringing total training on these topics for at least 86% of our employees. Financial Consumer
new hires and 97
focus group discussions. Plans for the following year hours for the year to over 280,500. Protection
incumbents
include development of Career Maps and conduct of In 2019, Security Bank's Human Resources (HR) and Money Laundering
Competency and Skills Assessment. Among the most impactful trainings conducted are SBC Academy continued to reinforce the Bank's core and Terrorist Financing 98
for onboarding new hires. This is when SBC Academy values by focusing on building a service-oriented Protection Program
As an Equal Opportunity Employer, Security Bank delivers the BetterBanking Experience (BBX) module, culture defined by execution excellence.
recognizes our people based on merit, performance immersing new hires in the BetterBanking promise
and the consistent practice of corporate values. and what it means for every Security Banker. Alongside SBC Academy’s usual competency building
programs, it also laid the foundation for programs geared
more towards culture-building.
Training Programs Offered to Employees
Program Description Digital Solutions Security Bank believes that its people are its greatest
Types of Training Programs Offered to Employees
assets and that the quality of its people reflects the
New Hires’ This program aims to orient new employees on Security Bank's • Gamification through mobile quality of service the Bank provides. SBC Academy Program Category 2019 2018 2017
Orientation vision, mission, organizational structure, as well as key company learning applications, therefore paired programs meant to equip employees Functional 60 45 29
policies and regulations. It also aims to instill a sense of pride such as Kahoot
with the technical and digital skills to tackle business Behavioral 3 10 8
among new entrants once they get to know how every Security • Real-time feedback gathering
challenges with those meant to prepare people to make Job Related Technical 62 63 79
Banker lives up to its Core Values, which enables the Bank to through Kaizala, Mentimeter
competent decisions in the name outstanding service.
achieve its goals and be recognized as a multi-awarded Bank and MS Forms Career Development 3 3 2
locally and internationally. • Blended learning methodology
This helps form best practice standards and sets
BetterBanking service apart from the rest. External Program 474 122 225
using videos, lecturettes and
Branch Lab for This is a comprehensive training, which aims to empower new structured learning exercises
Channel Officers, branch personnel with the knowledge and skills that will enable • Self-directed learning through HR took a similar route as alongside its usual employee
Customer Advisors them to perform their duties and responsibilities in the branch,
Training Summary GRI 404-1
the use of BBOG Knowledge Base engagement and benefits programs, the Team also began
and Tellers discern risks and consequently mitigate them. The program (applicable to Branch Lab and a comprehensive people-centric program anchored on 2019 2018 2017
provides hands-on systems training and application of best Account Opening only) values, coaching and mentoring, and competency building. Total Number of 99,910 88,378 39,513
practices through simulation of various bank transactions. Participants
Training modules ranging from career pathing, succession
Account Opening & This program aims to empower branch personnel with the
planning, anti-corruption policies, Code of Conduct and Total Training Days 35,073 35,294 35,651
Documentation knowledge and skills to properly handle complex accounts Ethics, and leadership were offered and helped employees Total Training Hours 280,586 282,348 285,208
being opened in the branch. The training will also provide tools implement BetterBanking in their own roles.
Ending Head Count of 6,625 5,903 5,437
and techniques to branch personnel on how to use their sound
SBC
judgment during the account opening process. HR and SBC Academy’s initiatives show that
Security Bank is focused on developing and enabling Average Training Days 5 days 6 days 6.6 days
Train the Trainers This program equips the participants with the right knowledge its people to succeed in their roles and in their careers. per Employee
and skills to perform the trainer’s instructor, facilitator and
administrator roles. It introduces the principles of adult learning
and the ADDIE model of training and development.
I Am A Customer This digital learning course focuses on improving the Bank’s • Self-paced digital learning course,
Advocate quality of service by understanding the lobby management featuring a “virtual trainer”
metrics, complaints handling and voice of the customer.
CSQ Reimagined The CSQ Reimagined e-Learning is a mandatory course for all • Video-based learning course
frontline staff who conduct suitability assessment. This is part of using situational examples
their CSQ certification wherein they are taught how to use the
simpler and improved CSQ.

Through the OSAM awards, we promote a culture of

appreciation and sustain the tradition of excellence.
These awards empower us to provide excellent
financial services to our clients and the community.
People – Employee Care and Development – We listen
Execution Excellence – Flawless Execution – We do it right
WELLNESS IS ALWAYS A PRIORITY RECOGNIZING OUR PEOPLE’S VALUABLE CONTRIBUTIONS

GRI 413-1, GRI 102-1, GRI 102-2, GRI 102-3
It is our people who deliver in our BetterBanking promise.
In our mind, the BetterBanking promise is to be delivered For cases of injuries or ill health, Security Bank Infrastructure, processes and technology only work when our people
to both internal and external customers, and our people provides clinic services with nurse and doctor deliver with commitment to and passion for excellence. That is why
are also among the key stakeholders who reap the benefits on duty, emergency transport from workplace to Security Bank does not fail to recognize exemplary performance.
of having a sustainable business. hospital (if needed) and medical assistance in case Moreover, employees are financially rewarded with provisions
the HMO coverage is already fully utilized. for performance bonus, profit-sharing, bonuses, promotions and
Aside from ensuring our people are enabled and supported merit increases.
with their job roles, Security Bank also implements Our people are, of course, covered by an HMO plan.
programs to provide them a safe and secure workplace Above that, we promote an active lifestyle through Other forms of recognition are essential for our people. That is why
where their health and wellness are looked after. initiatives, such as regular Zumba sessions and sports we have the annual Outstanding Security Banker Achievements
tournaments. Moreover, we support spiritual wellness and Milestones Awards (OSAM), which recognizes Security Bankers
Security Bank has been diligent in ensuring disaster through openness with spiritual expression and practice whose impact and contribution to the organization’s overall success
preparedness in all offices and branches. In 2019, within the office premises. is truly appreciated. OSAM awardees usually stand out among the
it conducted 58 emergency drills and trainings in 2019, ranks and get nominated because of their inspiring commitment
including response simulation and evacuation drills. We take great pains to take care of our people and to BetterBanking.
The trainings are done throughout the year, to keep our their welfare because they are and always will be
people always alert. our greatest asset. In 2019, the awarding ceremonies were held at the JYD Hall on August 16
as a tribute to the 17 Security Bankers who demonstrated excellence
We encourage everyone to think of their safety and health This high regard for our people includes respecting and full commitment to our mission and core values. HR received
not only during emergencies, but to see the value of their right to self-organization, collective bargaining and a total of 229 nominations, which was further shortlisted to 89 candidates
health and wellness in their everyday lives. That is why negotiations. Security Bank maintains an open channel from where the selection committee picked the final list of awardees.
we also maintain a Total Wellness Program, which includes of communication with union groups, holding regular There was also one team awardee that exemplified the true spirit of
initiatives such as the annual physical examinations and management-union meetings to keep each other updated. collaboration and teamwork.
annual flu vaccination sessions. For 2019, a total of 1,782 employees were covered by
Collective Bargaining Agreements. We promulgate a fair Through the OSAM awards, we promote a culture of appreciation
In 2019, we also held a Health, Wellness & Fitness Fair and transparent grievance mechanism that follows due and sustain the tradition of excellence. These awards empower us to
at the Security Bank Head Office to promote a healthy process under our Code of Conduct and Ethics. provide excellent financial services to our clients and the community.
lifestyle. The two-day event featured health food
concessionaires and fitness partners tapped to provide Meanwhile, the Service Tenure Awards—normally held in June—
discounts and free consultations for the 800 participants rewards Security Bankers for their years of loyal and excellent service
who came to the fair. and for being an inspiration for others. In 2019, there were 43 awardees
fêted in ceremonies held in their honor.

PERKS OF BEING PART OF THE TEAM

401-2
All these people programs reflect the core values that Security Bank stands for and shares
with its employees, regardless of rank or role. The equal treatment of every employee is an
integral part of the culture. This is evidenced by the fair and market-competitive provision The values of respect and malasakit run deep in the At the same time, Security Bank offers venues for our
of employee compensation and benefits packages that are above regulatory standards, organization. This is what drives Security Bank to root people to share and express their creative talents and
especially in terms of health care and retirement benefits. Moreover, Security Bank also for its employees’ personal and professional success. bring their whole self to the workplace. Here are
provides its employees, when applicable, with flexible work arrangements like timeblock With the goal of having a happy and healthy workforce, some of the programs available:
schedules, compensatory days off and four-day work week to allow them to conveniently the Bank implements people-centered engagement
operate within the arrangements that work best for them and at the same time provide programs that truly address the diverse needs of SBC Chorale
them time for self and family. a 6,625-strong family. Here are some memorable The Security Bank Chorale showcases its musical talent
among many Employee Engagement events that as they perform in various company events, such as the
List of Benefits we celebrate annually: annual Service Tenure Awards, Outstanding Security
% of Employees who Banker Milestones and Achievements (OSAM Awards)
List of Benefits Y/N availed for the year Fast-tracked passport services for the whole family and Celebration of Life. They are the music ministry for
Female Male Recognizing the benefits of travel, for employees’ the Thanksgiving Mass at the beginning of the year,
well-being and family life, we partnered with the and in June for The Bank's anniversary, as well as on
SSS Y
Department of Foreign Affairs to provide hassle-free Ash Wednesday, and on the Solemnity of the Immaculate
Maternity 5.35%
passport application and renewal services to Security Conception of the Blessed Virgin Mary in December.
Sickness 1.98% 1.18% Bankers and their families at the Head Office. There were
SSS Loan 16.29% 12.26% 204 passport applications and renewals processed Security Bank Dance Troupe
PhilHealth Y 11.88% 7.59% during this event. SBC’s rookie dance crew battled against 10 other bank
groups and bagged second place at the third BAIPHIL
Pag-ibig Y 6.95% 4.29%
Back-to-School Fair Street Dance Challenge. The members were originally
Parental leaves Y
We brought in concessionaires of school supplies, rivals in SBC’s Got Talent competition who assembled
Solo Parent 0.78% 0.00% snacks, storage products and uniform essentials for as one to represent their teammates and fellow
Maternity 5.93% 0.00% a two-day Back-to-School Fair held at the Head Office. Security Bankers.
Paternity 0.00% 3.21% The Bank also invited a nutritionist-dietitian to share
valuable tips on preparing healthy and budget-friendly Spirituality and Thanksgiving
Alternate Caregiver (part of ML) 0.00% 0.61%
snacks. This exciting initiative not only made back-to- Security Bank highlights spirituality as a part of its
Vacation leaves Y 82.77% 80.19%
school preparations less of a hassle to Security Bankers, culture through daily Catholic masses, Lent and Advent
Sick leaves Y 77.31% 70.90% but it also freed up their weekend so they could Recollections and regular Mid-Week Gatherings.
Magna Carta for Women 0.75% spend more time with families and friends. The Bank also held special Thanksgiving Masses to
Medical benefits (aside from PhilHealth) Y celebrate the company's milestones.
Blockbuster Weekend Treat
HMO 86.50% 84.91%
Security Bank encourages its people to share time The family culture of Security Bank transcends the
Medical allowance 71.52% 7.35%
and bond with those important to them, which is why it service of former Security Bankers. To celebrate the
Housing assistance (aside from Pag-ibig) Y 0.03% ensures that the overall work-life balance of its employees lives of departed Security Bankers, the Bank held two
Retirement fund (aside from SSS) Y 4.73% 2.26% is well cared for. More than 5,000 Security Bankers and separate gatherings in Makati and Davao for their
Further education support Y 0.11% 0.28% guests in Metro Manila were present at the SM Mall of Asia bereaved families. Recognizing the significance of
Company stock options N Cinemas to catch a free screening of the highly anticipated giving emotional support, Security Bank also invited a
film Maleficent. Nationwide blockbuster weekend treats professional to talk about reshaping grief, putting loss
were also scheduled for our employees outside Metro into perspective and moving on.
Manila. The movie treat is just one of the Bank’s ways to
thank its people for their hard work and dedication.

The Bank included this year our particularly in electricity use and fuel consumption
calculations for greenhouse gas of our generator sets. This is part of our efforts in
(GHG) emissions from our operations, operational efficiency and environmental stewardship.
Execution Excellence – Persistent Improvement – We do it right
Empowering Our People to

Help Protect the Environment
GRI 103-1, GRI 103-2, GRI 103-3
Security Bank also delivers BetterBanking promise through its network of The Bank included this year our calculations for greenhouse gas (GHG)
308 branches and 841 ATMs around the country. In 2019, the organization emissions from our operations, particularly in electricity use and fuel
took pains to complete the 7S for BetterBanking program, leveling up consumption of our generator sets. This is part of our efforts in operational
the standard cleanliness framework to a more comprehensive 7S— efficiency and environmental stewardship. The company looks forward
Sort, Systematize, Sweep, Standardize, Self-discipline, Safety and Sustain. to comparing our GHG emissions for 2020, and look for ways to
The program aimed to preserve the brand promise, maintain orderliness, decreasing our carbon footprint.
and create a safe and healthy working environment for people, focusing
on improving productivity through well-organized work places. The challenges were also present in power distribution as natural
calamities that occurred throughout the year affected power supply
The Bank makes an effort to manage orderliness of its physical space. and drastically increased the need for using branch generator sets.
It is the nature of the business that operations require consumption of This produced a big increase in our fuel consumption, which we
electricity, mainly because of necessary air conditioning, lighting and managed through regular preventive maintenance to ensure optimal
digital network and connectivity systems. reliability and efficiency of the generator sets.
It is therefore standard practice for us to measure and monitor

energy usage with an eye on areas for improvement in efficiency
and potential for cost savings. Electricity Consumption for Branches in KWh, MJ GRI 302-1, GRI 302-3
Luzon Branches Visayas Branches Mindanao Branches Total Branches
The facilities team has been replacing end-of-life air conditioning units 2019
(ACU) with inverter-type units, which is estimated to bring us PHP50,000
Total Consumption (KWh) 7,613,601 793,026 1,098,719 9,505,345
annual savings per branch. By end of 2019, around 50% of ACUs across
the organization were already using the energy-saving inverter-type, Total Consumption (MJ) 27,408,962 2,854,893 3,955,387 34,219,242
up from the previous year’s 42%. Branches have also been reducing Area in square meters 53,802 5,441 8,351 67,594
the running hours for lighted signages. Energy Intensity 509 525 474 506
2018
At the same time, we are now choosing to use LED light bulbs and
Total Consumption (KWh) 7,704,299 851,634 1,106,995 9,662,928
converting busted fluorescent and CFL bulbs into the more energy-efficient
Total Consumption (MJ) 27,735,476 3,065,882 3,985,182 34,786,541
technology which offers cost savings in the long run. The increase in
headcount for any of the offsite areas (or facilities outside Head Office), Area in square meters 53,018 5,441 8,351 66,810
however, would predictably have an effect on overall consumption, Energy Intensity 523 563 477 521
which for 2019 resulted in a 1% increase. 2017
Total Consumption (KWh) 8,097,861 775,272 813,578 9,686,711
In terms of water consumption, the 10% decrease we noted in our tracker
Total Consumption (MJ) 29,152,298 2,816,080 2,903,779 34,872,157
can be attributed to the overall decrease in water supply because the
country as a whole had to deal with the impact of El Niño in its general Area in square meters 50,298 5,828 7,516 63,642
water supply. With calls for water conservation in all sectors, the facilities
team ensured that leaks and defective water fixtures were immediately
addressed to avoid wastage.

Electricity Consumption in KWh, MJ GRI 302-1, GRI 302-3 CLIMATE-RELATED RISKS AND OPPORTUNITIES
Head Office Branches SLC Bldg Other Offsite TOTAL
2019 Security Bank is cognizant of the increasing significance
of climate-related risks and opportunities, with changing
Total Consumption (KWh) 4,897,676 9,505,345 615,733 1,391,260 16,410,014
climate patterns. That the Philippines is located along
Total Consumption (MJ) 17,631,635 34,219,242 2,216,637 5,008,537 59,076,051 the Pacific Ring of Fire as well as the typhoon belt adds
Area in square meters 24,444 67,594 3,589 11,369 106,996 to the country's vulnerability. There is a conscious and
Energy Intensity 721 506 618 441 552 constant assessment of the potential risks it portends.
2018
For instance, climate-related risks such as high intensity
Total Consumption (KWh) 5,107,128 9,662,928 552,102 854,747 16,176,905
typhoons would lead to temporary disruption of branch
Total Consumption (MJ) 18,385,661 34,786,541 1,987,567 3,077,089 58,236,858
operations, pose dangers to our people’s safety and
Area in square meters 24,444 66,810 3,589 7,819 102,662 result in increased costs for maintenance and engineering.
Energy Intensity 752 521 554 394 567 Meanwhile, potential risks are also brought by chronic
2017 lack of water resources, resulting in intermittent supply
needed by power plants which in turn could mean
Total Consumption 5,131,612 9,686,216 561,753 303,982 15,683,563
service interruptions especially in the summer months,
(KWh) 5,131,612 9,686,216 561,753 303,982 15,683,563
increasing the frequency of use of our standby power
Total Consumption (MJ) 18,473,801 34,872,153 2,022,310 1,094,336 56,462,600 generators. Providing oversight over the Bank’s approach
Area in square meters 24,444 63,642 3,589 7,819 99,494 to these risks are the Board of Directors, through the
Energy Intensity 756 548 563 140 567 Risk Oversight Committee (ROC), and the Audit
Committee (AC). The ROC reviews, approves and
ensures effective implementation of the risk management
framework and its components, while the AC looks
Water Consumption by Branches (Cu.M.) GRI 303-3 Fuel Consumption (Liters) GRI 302-1 into the overall effectiveness and compliance of the
Branches Head Branches risk management policies and processes.
Year TOTAL Year TOTAL
Luzon Visayas Mindanao Office Luzon Visayas Mindanao
Tasked to implement the strategies is the
2019 30,615 3,631 6,043 40,289 2019 1,695 5,514 1,238 1,713 10,161
Risk Management Group (RMG) headed by the
2018 40,224 4,427 6,365 51,016 2018 28.65 2,023 388 425 2,884 Chief Risk Officer (CRO) who develops policies and sets
2017 95,956 3,476 10,714 110,146 2017 2,682 7,131 2,755 1,708 14,276 limits from the branch level up to the executive level.
He also investigates ways to address such risks. As this
is an independent business unit of the company, it looks
into all operational risks and recommends ways to
address specific risks and opportunities.
Water Consumption (Cu.M.) GRI 303-3 GHG Emissions (Tons CO2e) GRI 305-1, GRI 305-2
Head SLC Other Energy Source GHG Emissions (Tons CO2e) The Bank has a Business Continuity Plan and
Year Branches TOTAL
Office Bldg Offsite Scope 1 (generators) 98 Crisis Management Plan already in place. In addition,
2019 51,940 40,289 1,969 13,299 107,496 we are in the process of revisiting the possible crisis
Scope 2 (electricity) 11,687
scenarios to create the crisis playbook in order to
2018 45,759 51,016 1,862 21,241 119,878
streamline the process in case of an actual incident.
2017 41,206 110,146 2,104 15,134 168,590 We plan to include the climate-related risk events in the
playbook and intend to complete this exercise within 2020.
57 / security bank corporation

BUILDING THE FOUNDATION AND EXECUTING FOR TOMORROW

GRI 203-1, GRI 203-2
The Bank has branches across key cities and In 2019, SBFI turned over its 500th
municipalities in the country. This allows it to be close classroom in Lemery, Batangas,
to the pulse of the people. The “Build a School, and covered its 100th beneficiary school
Build a Nation: The Classrooms Project” is a holistic in Cauayan, Isabela. It also reached its
program that leverages the ties SBC has with local 50th city—Vigan, Ilocos Sur—where it
communities towards improving the quality of people’s turned over a uniquely designed heritage
lives through quality education. The program is hinged school building.
on the following performance indicators:
BetterBanking Means By the end of 2019, SBFI had turned over
• Build classrooms in all provincial locations with 545 classrooms across 102 schools and
Building Communities SBC presence. 55 cities and municipalities. Nearly 100,000
• Hit 1:50 classroom-student ratio in all beneficiary students have had their lives changed by
GRI 413-2, GRI 103-1, GRI 103-2, GRI 103-3
schools. this groundbreaking endeavor.
• Maintain a single class shift for all beneficiary schools.
Our commitment to service is embodied by the work we do to • Help improve overall scores of beneficiary students
achieve business excellence and enhance the quality of the lives in the National Achievement Test in order to exceed
of people and communities. These are key components of our the national average.
BetterBanking promise.
The Bank applies a holistic approach to giving, which entails:
CLASSROOMS TURNED OVER 545

545
• Thoroughly assessing the needs of people and communities
• Analyzing and identifying ideal project partners (national government Total classrooms
turned over
agencies and local government units, academic institutions and other Classrooms Turned Over By Island Group
foundations or charitable institutions)
• E xecuting plans excellently through collaboration among employees,
partners and beneficiaries 310 Luzon
• Providing follow through programs to ensure sustainable impact
For 26 years, Security Bank Foundation Inc. (SBFI) has been 102 124 Visayas
the corporate social responsibility arm of Security Bank. Schools Benefited
Per Year
SBFI’s programs are geared towards enhancing quality of life in partner 111 Mindanao
2019 116
communities by forming lasting stakeholder relationships, all the while
strengthening the Bank’s image as a supporter of social development 2018 58
55
and a hub for talent. In addition, SBFI has also helped uplift the lives
of employees and agency personnel through medical and scholarship 2017 64
By School Level
assistance initiatives. Partner Cities/Municipalities
2016 98
In the Philippines, there are 27 million students from Kindergarten 2015 84

to Grade 12. This segment is critical to achieving the nation’s 164 High School
socio-economic goals. Over time, there has been a struggle to bridge 2014 44
99,930
gaps between students who require education and the availability 42 Kindergarten
2013 44
of facilities, learning materials and teachers. This is true particularly
for 23 million public school students who do not benefit from an Students Benefited 339 Elementary 2012 28
ideal student-teacher ratio (1:50).
2011 9

FOLLOWING THROUGH GOING THE EXTRA MILE: PAYING IT FORWARD Volunteer Programs
Activity Hours Pax
Continuity is an integral part of SBFI’s and Ateneo Center for Educational nourishing partnerships, In 2019, SBC employees contributed 2,337 volunteer
Classrooms Project 1,210 80
holistic approach to enriching lives Development (ACED). Through this, managing school assets man-hours to SBFI advocacies. This shows how every
and building sustainable communities. teaching tools and strategies for Araling and infrastructure, Security Banker has taken their commitment to service Bloodletting 64 94
The Bank has ensured that the facilities Panlipunan, English, Mathematics and disaster risk reduction to heart. Volunteer hours have been spent performing Bible Packing Activity 142 65
it has and will turn over are disaster-proof Science have been shared and eventually and management, essential tasks, such as school painting, monitoring Coron Medical Mission 20 10
and PWD-optimized. Regular maintenance deployed. All training initiatives are financial management ongoing classroom construction, meeting with community School Painting Activity 901 108
and repair efforts are also conducted to accredited by the Professional Regulations and resource mobilization stakeholders, organizing turnover ceremonies and
TOTAL 2,337 357
ensure that students and teachers can Commission. This has paved the way for school needs. gathering feedback from communities.
work unimpeded. for participants to earn Continuing
Professional Development units required This, along with other social outreach activities, Employee Volunteer Hours
Establishing foundations for improving for the renewal of professional licenses epitomizes the fact that SBC’s BetterBanking promise
Year TOTAL
quality of life has not been limited to for school teachers and principals. Teachers Trained extends from business excellence to life-changing people
2019 2,337
safeguarding the integrity of physical 1,387 teachers have been trained by Per Year and community development. It proves that the bayanihan
structures. It has also called for equipping the end of 2019. spirit is very much alive within the Bank as seen through 2018 1,407
Year TOTAL
teachers and other members of beneficiary actions consistently born of malasakit. 2017 1,974
2019 384
schools and communities with the skills SBFI also provides leadership and
needed to consistently deliver quality management workshop for beneficiary 2018 301
education over the long-term. This move school principals every three years in 2017 301
to empower educators, students and collaboration with its academic partners. 2016 200
communities to produce future leaders The pilot workshop trained school leaders 2015 151
of tomorrow has been done through on leadership, trends in 21st century
2014 50
strategic partnerships with the One La learning, creating a conducive and
Salle Educational Foundation (OLEF) safe school environment, building and TOTAL 1,387
Per School Level
Elementary 754
1,387
Junior High School 448
Senior High School 185

Total Teachers
Per Subject
English 492
Mathematics 437
Science 216
Araling Panlipunan 242
Per Island Group
Luzon 612
Visayas 391
Mindanao 384

SBFI's flagship CSR program was hailed as Best

CSR Initiative in the Philippines at the Global Retail
Banking Innovation Awards in Singapore and
Outstanding Corporate Social Responsibility (CSR)
Program in Education in the Philippine League of
Corporate Foundations CSR Guild Awards.
Execution Excellence - Flawless Execution - We do it right
SBFI has donated classrooms to public schools that cater With the belief that every Filipino deserves quality education,
to special education (SPED) students. Panabo Central SBFI has provided scholarships for deserving, underprivileged
Elementary School – SPED Center received six classrooms students in elementary, secondary, tertiary and post-graduate
in 2019. Meanwhile, the Foundation put up six classrooms levels. The program is offered to Security Bank employees and
in the mission school of De La Salle Philippines in Bagac, their dependents, agency personnel and their dependents,
Bataan catering to children of farmers and fishermen. as well as students enrolled in SBFI’s partner colleges and
universities. From 2018 to 2019, 24 SBFI scholars graduated
This past year, the Department of Education recognized from college. Among them, two received Magna Cum Laude
Security Bank for its work as an Adopt-a-School program honors, while nine were hailed Cum Laude.
partner, noting the Bank’s contributions in promoting
quality basic education through classroom building Existing partnerships with eight respected educational institutions
and teacher training. namely: Ateneo De Manila University, Chiang Kai Shek College,
De La Salle University Manila, Far Eastern University Manila,
SBFI’s flagship CSR program was hailed as Best CSR Pamantasan ng Lungsod ng Maynila, Polytechnic University of
Initiative in the Philippines at the Global Retail the Philippines Manila, University of Santo Tomas and University
Banking Innovation Awards in Singapore and of the Philippines Diliman—have helped ensure college
Outstanding Corporate Social Responsibility (CSR) scholarships for 60 financially challenged students for four
Program in Education in the Philippine League of years starting in academic year 2019–2020. Scholarship courses
Corporate Foundations CSR Guild Awards. It also include Accountancy, Business, Industrial Engineering, Finance,
received an Award of Excellence for Corporate Social Management, Information Technology, Computer Studies,
Responsibility at the 17th Philippine Quill Awards Mathematics and Statistics, and Social Sciences. In August 2019,
organized by the International Association of Business the Bank further solidified its commitment to quality education
Communicators Philippines. The same program bagged through a PHP2,000,000 donation to the Amando M. Tetangco
a Gold Anvil Award for Public Relations Program on a Scholarship Jr. Ateneo Scholarship Fund.
Sustained Basis in Education presented by the
Public Relations Society of the Philippines.

GIVING KNOWS NO BOUNDS
To jumpstart students’ careers, SBFI has offered internships, corporate SBFI has also been at the forefront of other noteworthy charitable Individuals Provided with
social responsibility activities and learning opportunities to its scholars to initiatives, namely, Medical Financial Assistance
fully prepare them to face the challenges of the working world. This works
Year TOTAL
in line with the Bank’s openness to onboard the same individuals to whom • Medical Financial Assistance. The foundation extends financial
they had awarded scholarships to help extend the reach of SBC’s culture assistance to employees and agency personnel, including their 2019 62
of excellence and BetterBanking well into the future. immediate relatives, who have limited resources for their 2018 40
medical needs. In 2019, SBFI provided medical financial 2017 42
Three college graduates of the scholarship program are now working in assistance to 62 individuals.
Security Bank. One of whom, a daughter of a security guard assigned at • Ambulance Donation to Philippine Red Cross. The Foundation
the Bank’s Head Office, graduated in 2015 and is already a Junior Assistant Scholars Supported donated five ambulance units to Philippine Red Cross to help
Manager in the Auto Loans Division of the Bank. for the Past 3 Years provide life-saving care during times of crisis. Ambulance Units Donated
Year TOTAL • Palawan Medical Mission. Security Bank and SBFI, in partnership
Year TOTAL
Security Bank donated funds for the construction of a new training facility 2019 403 with post-graduate medical interns from the Department of
2018 2
in Punlaan School, a technical vocational school specializing in hospitality Health–Philippine Centers for Specialized Health Care, provided
2018 327 2017 1
and culinary services, which offers scholarship programs and immediate basic medical services to 300 residents of Coron, Palawan.
2017 339 2016 1
employment for young women from marginalized families. This Bank-sponsored mission brought free circumcision services,
medical consultations, lectures and medicines to residents. 2015 1
Hygiene kits and toiletry packs, donated by Bank clients, and TOTAL 5
prepared by Security Bankers, were also distributed.
• Computer Donation to Pangasinan Universal Institute (PUI).
SBFI donated 30 brand new desktop computers to PUI in line
Scholars per School Level with its belief that digital education is the wave of the future.
Elementary 170
403
By giving the most attention to those who have the least, but who deserve
better the most, Security Bank has managed to promote and leverage
High School 157
Total Scholars the power of quality education to the hilt. Its holistic approach to uplifting
College 65 the lives of people and communities has involved a careful and thorough
process of building a foundation (research, selection, partnerships),
Post-Graduate 11
execution (project implementation) and follow throughs (continuous
upskilling, scholarships and financial support). SBFI has indeed brought
Scholars Per Beneficiary deeper meaning to BetterBanking and it intends to continue to ride this
wave of giving, not for the Bank to gain praise but in the service of others.
Agency Personnel 120
Bank Employees 252
External Partner 31
Schools
54 High School
89 24 College
Total
Graduates
1 Post-Graduate
10 Elementary

CONNECTED TO PEOPLE, COMMITTED TO PURPOSE
Security Bank believes that education, connectedness and purpose bring about positive change for the common good. Celebrating the Filipino Heritage: Honoring Female Game Changers:
We look at education from a broader perspective, seeking to engage students and the general public in the learning Filipino Heritage Festival 8 Bravo Empowered Women Awards
process. We support environmental, cultural and social initiatives that encourage personal and collective responsibility Security Bank supports initiatives that advocate Filipino The ideals of BetterBanking entail creating better
to fulfill our mission of enriching lives, empowering businesses and building communities. heritage conservation and cultural education. One of the opportunities for all. Security Bank’s support for the
Bank’s long-term commitments is to support National Bravo Empowered Women Awards is an example of the
Raising Environmental Awareness: Raising Cultural Consciousness: ArteFino Fair Heritage Month, by funding the Filipino Heritage Festival. Bank’s commitment to bringing to the fore the Filipinas'
Paseo Underpass Mural Project Keen on forging partnerships built on shared values unique brand of outstanding leadership and service.
Mindfulness and respect for the limits of natural with a mission to empower businesses, Security Bank The Festival is a month-long calendar of cultural
resources and functions of ecosystems are fundamental. teamed up with the group behind ArteFino—Manila’s activities that aim to bring multiple aspects of our The Bank, together with Zonta Club of Makati & Environs,
Awareness through education is the first step towards premier craft fair. This annual event celebrates the heritage to a wider audience. The events include an art recognized eight remarkable Filipinas in the 3rd BRAVO
solving environmental problems. With the Paseo Filipino artisan with a mission to create a new exhibition, culinary demonstrations, performances and Empowered Women Awards. The 2019 winners were
Underpass Mural project, Security Bank heeded ecosystem that inspires creativity, promotes other programs for the public. This annual gathering selected across a broad range of demographics and
this call through its message of “BetterBanking for sustainable livelihood for communities and uplifts acknowledges and reinforces the role of local artists interesting backgrounds. The awardees included a tribal
a Better World." Filipino craftsmanship. A portion of the proceeds goes alongside cultural workers in upholding our traditions. chieftain from Davao; a 29-year-old Jiujitsu world champion;
to the HeArtefino Development Program. This program It showcases meaningful cultural activities that can be and a former investment banker who established the first
Together with award-winning artist and activist AG supports indigenous and underserved communities by passed on to the next generation. sustainable and most technologically advanced rice
Saño, Security Bank transformed the Paseo De Roxas providing them with a livelihood center, solar lamps, processing complex in the Philippines.
underpass into a sanctuary of Philippine terrestrial and sewing machines, basic learning programs focused In 2019, Security Bank co-presented the photo exhibition
marine creatures. Entitled Art in Defense of Mother on values education and financial literacy. Among its entitled 100 Women: 100 Ways of Life, together with the The awardees were Ma. Rhodora Fresnedi, Rachel Marjorie
Nature, the Saño mural represents the protection of our beneficiaries is the Bagobo-Tagabawa Tribe from Toril, Filipino Heritage Festival Inc. and the National Commission Renucci-Tan, Margarita Ochoa, Magnolia Yrasuegui,
country’s unique mega-biodiversity. It is a unique and Davao. Revenues from sales of the products that these for Culture and the Arts. The exhibit featured a collage of Dr. Rosario Oreta-Lapus, Mona Magno Veluz, Waya Araos-
creative way to highlight the importance of addressing beneficiaries help create are ploughed back to them. a hundred photographs of Filipino women displayed Wijanco and Bae Arlyne Salazar. These women were chosen
a fundamental need—one that speaks of enriching at the Cultural Center of the Philippines in Manila. based on their individual achievements, personal advocacies
people’s lives by caring for the environment. It embodies During ArteFino 2019, Security Bank presented the It depicted how seemingly ordinary women sustained and inspiring stories of triumph over adversity in the
the call to protect Mother Nature because everyone, first ever Modern Filipino Award to Anya Lim of and transformed our cultural heritage and various categories of Business, Science & Technology, Sports,
including the future generations, deserves better. Anthill Fabric Gallery. The winning social enterprise traditional practices. Media & Public Affairs, Education, Social Services,
demonstrated the same core values that Security Culinary Arts and Arts, Culture & Heritage respectively.
Bank is committed to. Guided by data-driven decision
making, Anya innovatively used digital platforms The 8 BRAVO Empowered Women Awards honor change
not just to promote products that preserve Filipino makers, achievers and advocates of social change
heritage through modern design, but also to effectively nationwide. The Awards acknowledges the contributions
collaborate with customers and partners; thereby of notable individuals who deliver significant economic
enhancing support for her beneficiary communities. and social impact and demonstrate incredible dedication
to service and leadership.

Promoting the Bayanihan Spirit: Giving Knows No Season

BetterBanking is about sharing our best with others. In 2019,
Security Bank emphasized the collaborative culture of giving
through a campaign aptly titled Giving Knows No Season.
Part of the campaign was the creation of the SBC Giving Tree,
a unique visual representation of Security Bank’s commitment to
building communities and enriching lives. Built using repurposed
boxes, the tree not only served as a festive reminder of the
holiday season; it was also a sincere salute to the Bank’s
dedication to sustainability.
Inspired by the Giving Tree and the generosity it conveys, we proudly

promoted the collaborative culture of giving all year round. The Bank
was quick to respond to earthquake victims in Mindanao, teaming
up with Security Bank Foundation, Inc. (SBFI), National Bookstore
Foundation, Inc. (NBSFI) and A Single Drop for Safe Water, Inc.
(ASDSW). Together, relief goods, educational materials and even
provisions to rebuild homes were provided to the affected families.
Employees were also mobilized to share their time, talent or treasure
in different ways.
The value of malasakit was evident during Security Bankers’ corporate

social responsibility initiatives in late 2019. Employees distributed relief
goods to calamity victims in Davao Del Sur and organized a caroling
activity to raise funds for feeding programs in Tagaytay, Laguna and
Pasay. Many employees also supported causes that tugged at the Bringing It All Together
heartstrings. Among the causes and organizations supported were
the 1000 Bear Hugs Project (donating bears to children displaced by for a Brighter Future
natural disaster and/or conflict), the Grace to Be Born Maternity Home
and Nursery (for destitute and troubled women, infants and children),
and Caritas Manila’s Segunda Mana program (donation-in-kind Between barriers and breakthroughs, Security Bank continues
program that seeks to fund vocational and college students, to build bridges. The Bank’s pathway to progress is to keep
support livelihood programs and promote sustainable living). creating opportunities for people, businesses and communities.
BetterBanking is and will always be defined by execution

excellence and a service-oriented culture. It only makes sense
to strengthen existing partnerships and forge new ones in line
with advocacies defined by service. Committing to stay the
course can only lead to better days ahead.
BetterBanking Here / 70
2019 Awards and Recognitions
INSTITUTIONAL —— Top Arranger – Investors Choice for Primary PRODUCT INNOVATION • The Digital Banker: Global Private Banking
• 2019 Asiamoney Best Banks Awards for Issues – Government Bonds, Philippines (Rank 4) • The Asian Banker Philippine Country Awards Innovation Awards
the Philippines, Best Bank for SMEs —— Top Investment House - Asset Manager, —— Deposit Product of the Year —— Winner: Most Innovative Business Model,
• 13th Annual Alpha Southeast Asia Awards 2019 Philippines (Rank 5) —— Automobile Lending Product of the Year Salary Advance (SALAD)
—— Best Bank in the Philippines —— Top Investment House - Bank, Philippines (Rank 5) • Global Retail Banking Innovation Awards 2019 • 3rd Bank Marketing Awards 2019
—— Best SME Bank in the Philippines • The Asset G3 Bond Benchmark Review 2019 - —— Loan Offering of the Year, Salary Advance, —— Best Product Program—All Access Account
• Retail Banker International Asia Trailblazer Awards Top Investment House Commercial and Highly Acclaimed
—— South East Asia Trailblazer Winner: Investment Bank, Philippines (Rank 1) —— Best Mass Affluent Banking Offering, INVESTOR RELATIONS/CORPORATE
Best Retail Bank Philippines • The Asset Triple A Treasury, Trade, Supply Chain Gold Circle, Highly Acclaimed SOCIAL RESPONSIBILITY
• The Asian Banker: International Excellence and Risk Management Awards 2019 – Best Service —— Best Payments Innovation, Corporate Utility • Global Retail Banking Innovation Awards 2019
in Retail Financial Services Programme Provider-E-Solutions Partner in the Philippines ePayment, Highly Acclaimed —— Best CSR Initiative in the Philippines (Build a
—— Best Retail Bank in the Philippines —— Outstanding Digital Marketing Initiative, School, Build A Nation: The Classrooms Project)
BRAND MARKETING Digital Campaigns, Highly Acclaimed • 17th Philippine Quill Awards
MANAGEMENT EXCELLENCE • Asian Banking & Finance Awards 2019 • Asian Banking & Finance Awards 2019 —— Award of Excellence, Corporate Social
• Corporate Governance Asia 9th Asian Excellence Awards —— Advertising Campaign of the Year – Philippines —— Financial Inclusion Initiative Responsibility Program (Build a School,
—— Asia’s Best CEO (Investor Relations, Philippines), —— Social Media Initiative of the Year – Philippines of the Year—Philippines Build a Nation: The Classrooms Project)
Alfonso L. Salcedo, Jr. • Retail Banker International Asia Trailblazer Awards —— Mortgage and Home Loan • 55th Anvil Awards
—— Best Investor Relations Professional (Philippines, —— Trailblazer in Marketing and Communications Product of the Year—Philippines —— Gold Anvil Award for a Public Relations
FVP & Head of Investor Relations Ropi Dangazo) Highly Commended: Best Advertising Campaign, —— Wealth Management Platform Program on a Sustained Basis (Build a School,
Digital Campaign (Human Switch Kit) of the Year—Philippines Build a Nation: The Classrooms Project)
CORPORATE/TREASURY • The Digital Banker: Global Private Banking • The Asian Banker: International Excellence in • League of Corporate Foundations CSR Guild Awards 2019
• The Asset Asian Local Currency Bond Innovation Awards Retail Financial Services Programme —— Outstanding CSR Program in Education (Build a
Benchmark Review 2019 —— Highly Acclaimed: Excellence —— Deposit Product of the Year, All Access Account School, Build a Nation: The Classrooms Project)
—— Top Sellside Firm in Secondary Market - in Client On-boarding, W2R • Corporate Governance Asia 9th Asian Excellence Awards
Government Bonds, Philippines (Rank 3) —— Best Investor Relations Company (Philippines),
Security Bank

Board of Directors
1 PHILIP T. 3 GERARD H. 5 DIANA P. 7 ENRICO S. 9 FREDERICK Y. 11 JAMES J. K. 13 MASAAKI 15 ALFONSO L.

ANG BRIMO AGUILAR CRUZ DY HUNG SUZUKI SALCEDO, JR.
2 DR. JIKYEONG 4 CIRILO P. 6 TAKAHIRO 8 ALBERTO S. 10 SANJIV 12 ANASTASIA Y. 14 NAPOLEON L. 16 ATTY. JOEL
KANG NOEL ONISHI VILLAROSA VOHRA DY NAZARENO RAYMOND R. AYSON
7
1 3 4 6 13 16
14
11
10
2 5 8 9 12 15

Board of Directors’ Profiles
FREDERICK Y. DY Prior to joining the Bank, Mr. Villarosa was the Executive DIANA P. AGUILAR CIRILO P. NOEL
64, Filipino, was elected Vice President and Treasurer of Bank of the Philippine 56, Filipino, was elected to 62, Filipino, was elected to
Chairman Emeritus on Islands (BPI) (from October 1996 to October 2002). the Board on April 25, 2017. the Board on April 24, 2018.
April 28, 2015. He was During that time, he was a Director in several BPI Prior to this, she was a
elected Vice Chairman of subsidiaries, including BPI Family Bank, BPI Forex Director of Security Bank He is the Chairman of the
the Board on April 4, 1989 Corporation and BPI Investment Management, Inc. Corporation (from November Finance Committee and Vice
before assuming the Prior to joining BPI, he was Director/President of 2010 to April 2016) and was Chairman of the Executive
Chairman’s position from Citytrust Securities Corp. (from 1998 to 2003) and appointed Senior Advisor Committee. He is also a
April 1991 to April 2015. with Citytrust Banking Corporation (from 1987 to 1996) to the Board (from July 2016 member of the Audit and
where the last position he held was Executive Vice to April 2017). Transformation Committees.
He is the Chairman of St. Luke’s Medical Center (since President/Treasurer and President of Citytrust
August 2011), Chairman of City Industrial Corporation Investment Philippines. Prior to this, he was a She is the Chairperson of the Trust Committee and He is the Chairman of Palm Concepcion Power
(since June 1994), Independent Director of PLC-Nickel Vice President of Citibank N.A. (from 1984 to 1987). a member of the Related Party Transactions, Risk Corporation (since June 2018). He is a member of the
Asia Corporation (since September 2010) and a Director Oversight and Technology Execution Excellence Board of Directors of Transnational Diversified Group
of Ponderosa Leather Goods Co., Inc. (since May 1980). He graduated with a Bachelor of Science degree in Committees. She also serves as Chairperson of Holdings (since August 2019), Amber Kinetics Holdings
Commerce from the University of San Carlos, Cebu City SB Capital Investment Corporation (since August Co., PTE Ltd. (since March 2018), PLC-Globe Telecom, Inc.
and earned his Master’s degree in Business Management 2016). She is a Commissioner of the Social Security (since April 2018), LH Paragon Group, Golden ABC
ALBERTO S. VILLAROSA from the Asian Institute of Management. System (since August 2010). She is an Independent (since January 2018), PLC-JG Summit Holdings (since
69, Filipino, was elected Director of Makati Doctors, Inc. (Makati Medical Center) May 2018), Cal Comp Technology (Philippines) Inc.
Chairman of the Board since July 2018. (since June 2018), and PLC-San Miguel Foods and
on April 28, 2015. He was ANASTASIA Y. DY Beverage, Inc. (since September 2018). He is also a
elected to the Board in 61, Filipino, was elected to She is a Member of the Board of Governors of the member of the Board of Trustees of St. Luke’s Medical
October 2002 before the Board in April 1996 and Employers Confederation of the Philippines (since Center-Quezon City (since August 2017), St. Luke’s
assuming the position of appointed Vice Chairperson January 2017), Member of the Board of Directors of Medical Center College of Medicine (since September
President and Chief in April 2018. She was the Ionics Inc. (since December 2016), Consultant and 2018) and St. Luke’s Medical Center Foundation, Inc.
Executive Officer of the Bank’s Corporate Treasurer Senior Advisor to the Board of PLC-Phil. Seven (since August 2018). He is likewise a Board member of
Bank on January 5, 2004. (from 1994 to September Corporation (since January 2015), Board Member of St. Luke’s Medical Center-Global City (since August 2017)
Prior to this, he was Senior Executive Vice President 2004) and Executive Director the Capital Markets Development Board (since and Eton Properties, Inc. (since April 2019).
and Chief Operating Officer. (from September 2004 to 2013), Director of Wenphil Corporation (since 2012),
April 2018). Director of Electronic Commerce Payment Networks, He is also currently affiliated with the Makati Business
He is currently a member of the Executive, Nominations Inc. (since 2004) and Treasurer of De La Salle Santiago Club, Harvard Law School and Harvard Club.
and Remuneration, Restructuring, Finance and She is the Vice Chairperson of the Transformation Zobel School (since 2004).
Transformation Committees. He is a Member of the Committee. She is a member of the Corporate Governance, He was a member of the Board of Directors of
Society of Fellows of the Institute of Corporate Directors Nominations and Remuneration and Finance Committees, She was a Member of the Board of Directors of the Philippine Airlines (from 2018 to 2019) and PLC PAL
(since July 2006). He is a Director of Catholic Travel, Inc. and an alternate member of the Executive Committee. PLC-Philex Petroleum Corporation (from 2014 to 2017), Holdings, Inc. (from 2018 to 2019).
(since March 2009). Director of Phoenix Petroleum Philippines, Inc. (from
She is a Director of Woodchild Holdings (since 1991), 2010 to 2013) and CLSA Exchange Capital Corp. Prior to joining the Bank, he held various positions
He was the President of the Bankers Association of the Woodson Holdings (since 1991) and Ponderosa Leather (from 2001 to 2002). She was a member of the Board in SGV & Co. including Chairman (from 2010 to 2017),
Philippines (from April 2012 to March 2013) and Director Goods, Co., Inc. (since 1995). She is a Trustee of Tany of Trustees of De La Salle Santiago Zobel School Managing Director (from 2009 to 2010), Vice Chairman
(from March 2014 to October 2015). He was the Chairman Foundation, Inc., Security Bank Foundation, Inc., (from 2004 to 2010), Director of PLC-Phil. Seven & Deputy Managing Director (from 2004 to 2009),
and Director of SB Capital Investment Corporation Precept Ministries International of the Phil. Islands, Corporation (from 1999 to 2015) and Vice President Head of Tax Division (from 2001 to 2008) and Partner,
(from April 2004 to August 2016), Security Bank Savings CCF Life Academy Foundation Inc., Uplift Cares Global for Corporate Finance of Jardine Fleming Exchange Tax Services (from 1993 to 2017).
Corporation (from February 2012 to May 2015) and Movement Foundation Inc. and Center for Community Capital Corporation Group, Inc. (from 1988 to 2001).
SB Rental Corporation (from May 2014 to May 2015). Transformation Inc. He graduated from the University of the East with a
He was the Chairman of SBM Leasing, Inc. (from July She holds a Master's degree in Business Administration Bachelor of Science degree in Business Administration.
2011 to May 2014) and a Director of SB Cards Corporation She graduated from the University of the Philippines major in International Business and Finance from He earned his degree in Bachelor of Laws from the
(from December 2012 to June 2013). with a degree in Business Administration and earned Pepperdine University in California and a Bachelor of Ateneo Law School and took Master of Laws at the
units for a Master’s degree in Business Administration Science degree in Computer Studies from De La Salle Harvard Law School.
Mr. Villarosa has extensive banking experience from De La Salle University. University in Manila.
in the areas of Treasury, Investment Banking and
Consumer Banking.

board of directors' profiles board of directors' profiles
ALFONSO L. in BTMU including Deputy General Manager of He is a Director of the Bankers Association of the Mr. Ang graduated from Oregon University with a degree
SALCEDO, JR. the Global Corporate Banking Division of BTMU, Philippines (since 2019). He has over 30 years of in Business Administration and a Master’s degree in
64, Filipino, was elected Deputy General Manager of the Asian Investment experience in banking, having held a number of Business Administration from the University of Denver.
Director on April 18, 2015. Banking Division in Hong Kong (from 2013 to 2015), senior leadership positions in Asia, in Citibank India
He was the President and Chief Manager of the Asian Investment Banking as Corporate Bank Head (from 1988 to 1999),
Chief Executive Officer of Division in Singapore (from 2012 to 2013), Corporate Bank Head at ABN AMRO Bank, India GERARD H. BRIMO
the Bank (from April 28, Assistant General Manager of the Investment (from 1999 to 2000), Consumer Industry Head at 68, Filipino, was elected to
2015 to June 30, 2019). Banking Department of the Bangkok Branch, ABN AMRO Bank Singapore (from 2001 to 2002), the Board on April 30, 2019.
Thailand (from 2009 to 2012), Senior Manager of the Managing Director, Head of Corporate Banking He is the Chairman of the
He is the Chairman of the Global Markets Marketing Division of BTMU (from (India, Sri Lanka, Bangladesh) at Citigroup India Bank’s Audit Committee and
Executive Committee. He is also a member of the Trust, 2007 to 2009), Associate Director of Tokyo Mitsubishi (from 2002 to 2005), Country Executive at Royal Bank a member of the Corporate
Restructuring and Risk Oversight Committees. International in London (from 2003 to 2007), and of Scotland in India (2013), Head of Corporate Banking Governance Committee.
Manager of the Derivatives and Structured Products (Asia Pacific) at Deutsche Bank (from 2014 to 2017)
He is the Chairman of SB Finance Company, Inc. (since Division (from 1999 to 2003). He graduated from the and Managing Director, Head of Corporate Banking for He is the Chairman and
May 2015) and he is a Director and Vice Chairman of Faculty of Law at Waseda University. Asia & Oceania and Co-Head of Investment Banking for Chief Executive Officer
SB Capital Investment Corporation (since May 2015). Asia & Oceania at MUFG Bank, Ltd. (from 2017 to 2019), of PLC-Nickel Asia Corporation (since August 2018).
He is also a Director of SB Cards Corporation (since as well as experience in the domestic market as Country He is also the Chairman of Rio Tuba Nickel Mining
May 2015), SB Rental Corporation (since May 2015) MASAAKI SUZUKI Head of Citibank Philippines (from 2006 to 2013). Corporation (since August 2018), Taganito Mining
and SB Equities, Inc. (since August 2016). He is a 54, Japanese, was elected Corporation (since August 2018), Cagdianao Mining
Trustee of Security Bank Foundation (since April 2015). to the Board, effective He graduated with a degree of Bachelor in Technology Corporation (since August 2018), Hinatuan Mining
April 1, 2019. from the Indian Institute of Technology and a Master’s Corporation (since August 2018) and Cordillera
Prior to joining the Bank, he was a former executive of degree in Business Administration from the University Exploration Co., Inc. (since August 2018). He is the
the Bank of the Philippine Islands (from 2000 to March He is a member of the of Delhi in India. President of Newminco Nickel Mining Corporation
2015), with his last position as Executive Vice President Bank’s Corporate (since 2007).
in charge of the Corporate Clients Segment. He served Governance Committee.
as President of BPI Family Savings Bank (from 2004 to Independent Directors Prior to his career in mining, he worked for Citibank
2010), BPI Insurance Group (from 2000 to 2004) and He is the Deputy Chief for a period of eight years, resigning as Vice President
Allstate Life Insurance (Philippines) in 1999. He served Operating Officer-International (COO-I) and Deputy of the Capital Markets Group in Hong Kong, before
in the retail banking operations of Citibank Philippines Head of the Global Commercial Banking Business PHILIP T. ANG joining Philex Mining Corporation as Vice President-
as Country Marketing Director and Retail Bank Business Unit (since April 2019) and an Executive Officer (since 78, Filipino, was elected Finance. He served as Chairman and CEO of Philex
Manager for 10 years before joining BPI. He served as April 2018) of MUFG Bank Ltd. Prior to this, he held to the Board on Mining Corporation from 1994 until his retirement in
Marketing Director for Nippon Vicks KK (Japan) based various positions in MUFG Bank Ltd. including Assistant February 21, 1980. December 2003. He served as President of the Chamber
in Osaka for five years (from 1983–1987). He was a COO-I (from July 2018 to March 2019); Senior Executive of Mines of the Philippines from 1993 to 1995, and as
member of the Boards of BPI’s subsidiaries and affiliates, Vice President, Head of JPC/MNC Banking of Bank of He is the Chairman of Chairman from 1995 to 2003. He was again elected
specifically: BPI Capital Corporation, BPI Direct Savings Ayudhya PCL (from July 2015 to June 2018); and General the Nominations and Chairman in 2017, a position he currently holds.
Bank, BPI-Philam Life Assurance Corporation, BPI Manager of the Global Planning Division (from June 2015 Remuneration Committee
Rental Corporation, BPI Leasing Corporation and to July 2015). He first joined The Bank of Tokyo, Ltd. in and the Vice Chairman of He received his Bachelor of Science degree in Business
Ayala Automotive Holdings Corporation. He received April 1988. He graduated from the Faculty of Economics the Corporate Governance Administration from Manhattan College, USA, and his
his AB Economics Honors degree (with honors) from of Yokohama National University. Committee. He is also a non-voting member of the Master in Business Management degree from the Asian
the Ateneo de Manila University in 1977 and completed Bank's Executive Committee. Institute of Management.
the Advanced Management Program at the Harvard
Business School in 2006. SANJIV VOHRA He is the Vice Chairman (since August 2018) and Director
58, Indian, was elected (since September 2008) of Hinatuan Mining Corporation ENRICO S. CRUZ
as Director and appointed and Cagdianao Mining Corporation; Vice Chairman 62, Filipino, was elected
TAKAHIRO ONISHI as President and Chief and Director of PLC-Nickel Asia Corporation (since July to the Board effective
53, Japanese, was elected Executive Officer effective 2008) and Taganito Mining Corporation (since May 2005). August 1, 2019.
to the Board on April 1, 2016. July 1, 2019. He is a Director of Rio Tuba Nickel Mining Corporation
(since 2013). He is the Chairman of
He is a member of the He is the Chairman of the Bank’s Risk Oversight
Bank’s Risk Oversight the Technology Execution He was an Independent Director of SBM Leasing Inc. Committee, Vice Chairman
Committee. Excellence Committee and (from May 2010 to February 2017) and SB Capital of the Audit Committee and a
a member of the Bank’s Executive, Trust, Restructuring, Investment Corporation (from February 2010 to April 2017) member of the Nominations
Prior to joining the Bank, Finance and Transformation Committees. and Chairman and President of Solid Mills, Inc. until his and Remuneration Committee. He is also an Independent
he held various positions retirement in 2002. Director of Maxicare.

board of directors' profiles board of directors' profiles
Prior to joining the Bank, Mr. Cruz held various positions Dr. Kang is the President and Dean of the Asian Institute (from 2013 to 2015), Digital Telecommunications Philippines Law Alumni Association. He is a founding
in Deutsche Bank AG Manila (from 1995 to 2019) including of Management (AIM) and holds the MVP Chair in Phils., Inc. (Digitel) (from 2012 to 2015), Digitel Mobile member of Students Law for Integrity and Democracy
his most recent assignment as Managing Director/Chief Marketing. Prior to assuming her post at AIM, Dr. Kang Philippines Inc. (Digitel Mobile) (from 2012 to 2015), —UP College of Law and the UP Association of Political
Country Officer, Director and Head of Global Markets. was Director of the DBA Program at Manchester Business Smart Broadband Inc. (from 2005 to 2015) and i-Contacts Science Majors.
He served as Senior Vice President and Treasurer (from School (MBS) from 2010 to 2014. At MBS, she also served Corporation (from 2001 to 2015). He was the President
1989 to 1995) of Citytrust Banking Corporation (CTBC), as Director of the Postgraduate Centre in charge of and Chief Executive Officer of PLC-Philippine Long He is the Chairman of Unigrowth Resources & Development
an affiliate of Citibank NA. He joined CTBC in 1979 as an their MBA Programs from 2001 to 2007, where she was Distance Telephone Company (PLDT) (from February Corporation, Chairman and President of Eastern Western
Executive Development Program Trainee and worked instrumental in propelling the full-time MBA Program’s 2004 to 2015), PLC-Smart Communications, Inc. (from Connection Property, Inc., President and Director of
in various operations departments until he became Financial Times ranking from 47th in the world in 2002 January 2000 to 2015), Connectivity Unlimited Resources Dubor Backtrenmittel Und Apparatebau AG (Philippines),
Head of the Centralized Operations Department. to 22nd in 2007, the highest ranking it has ever achieved. Enterprise, Inc. (from 2008 to 2015), Aces Philippines Inc., President of Bristol Technology System and Vice
While she was in charge of the MBA Programs, Cellular Satellite Corporation (from 2000 to 2015) and President and Director of Amtel Trading Corporation.
He graduated from the University of the Philippines with MBS became one of the first schools in the world to PLDT Communications and Energy Ventures (2004 to
a Bachelor of Science degree in Business Economics and earn triple accreditation from AACSB, EQUIS and AMBA. 2011). He likewise served as Director of PLC-Manila He is a Director of Quo Vadis Palawan Resort, Inc.,
a Master’s degree in Business Administration. Electric Company, PLDT Global Corporation, Mabuhay Back Office Superior Services, Inc., Asiamed Inc. and
Dr. Kang currently serves on the International Board of Satellite Corporation, Rufino Pacific Tower Condominium Parex Realty Corporation; Director and Treasurer of
AACSB, the world’s largest business education alliance, and Operation Smile. He was a non-executive director Trevi Foundations, Philippines, Inc.
JAMES J. K. HUNG and on the Board of EFMD, an international 900-member of First Pacific, a Hong Kong Stock Exchange-listed
72, Taiwanese, was elected organization of business schools and corporations. She company, and a Supervisory Board Member of Rocket He is also a Corporate Secretary and Director of
to the Board on April 24, is also an Independent Director of Kesoram Industries, Internet AG, a company which provides a platform for IXSFORALL, Inc., List International, Blue Sky Sea Resort
1990. which is part of the B K Birla Group of Companies in India. the rapid creation and scaling of consumer internet Corp., Bohol Agro Marine Development Corp., Artbank
businesses outside the U.S. and China. Mr. Nazareno’s Holdings, Inc., Tambuli Development Corp., Metropolitan
He is the Vice Chairman of Dr. Kang earned her PhD from the University of business experience spans several countries in over Philippines Resort Corporation and Corporate Secretary
the Bank’s Nominations and Minnesota, her Master’s degree from Colorado State 40 years and his exposure cuts across a broad range of of Lapu-Lapu Resort Development, Inc., Bohol Resort
Remuneration Committee University and her Bachelor’s degree from Hanyang industries, namely, packaging, bottling, petrochemicals, Development, Inc. and Lapu-Lapu Resort. He is a Resident
and the Related Party University, Seoul, Korea. real estate and, in the last 16 years, telecommunications Agent of Ceragon Network (HK) Ltd., Medical Services
Transactions Committees. and information technology. Mr. Nazareno received of America Inc., Tanis Food Tec BV, Wagenborg Shipping
He is also a member of the Risk Oversight Committee. his Master’s degree in Business Management from Holdings BV, Dubor RHQ and OTV France Philippines.
NAPOLEON L. the Asian Institute of Management, completed the
He is the Chairman of Asia Securities Global Group NAZARENO INSEAD Executive Program of the European Institute He was the Treasurer and Vice President/Director of the
(Hong Kong, since 1993) and Xingya Real Estate 70, Filipino, was elected to of Business Administration in Fountainbleu, France, and Integrated Bar of the Philippines, Makati City Chapter
Development Co. (China, since 1993). He is a Director of the Board on 25 April 2017. was conferred a Doctor of Technology degree (Honoris (from 2001–2009) before he assumed his position as
Franklin Templeton Investment Fund (Luxembourg, since Causa) by the University of San Carlos in Cebu City. President (from 2009–2011). His practice areas are
2001). He was a Director in Templeton Emerging Markets He is the Chairman of Civil Litigation, Administrative Law, Immigration Law,
Trust Placements (from 1989 to 1999), Taiwan Index Fund the Bank’s Corporate Insurance Law, Regulatory, General Practice and
Limited (from 1991 to 2003) and Franklin Sealand Fund Governance Committee, Corporate Secretary Special Projects.
Management Co. Ltd. (from 2012 to January 2018). Vice Chairman of the Risk
Oversight and a member He graduated Cum Laude with a degree in Political
He graduated from Babson College with a Master’s of the Technology Execution Excellence Committees. ATTY. JOEL Science and took post graduate studies of Bachelor
degree in Business Administration, major in Finance. RAYMOND R. AYSON of Laws at the University of the Philippines.
He was a member of the Supervisory Board of Rocket 55, Filipino, was elected
Internet (from 2014 to 2017), Trustee of Philippine Disaster Corporate Secretary on
DR. JIKYEONG KANG Recovery Foundation, Inc. (from 2013 to 2015) and July 29, 2004.
58, Korean, was elected to Ideaspace (from 2012 to 2015), President and Trustee
the Board on April 25, 2017. of First Pacific Leadership Academy (from 2012 to 2015) He is a Partner in Quasha,
and Chairman of the Board of Trustees and Board of Ancheta, Peña & Nolasco
She is the Chairperson of the Governors of the Asian Institute of Management Law Offices (since May
Related Party Transactions and (from 2011 to 2017). 1998 to the present).
Transformation Committees. Mr. Ayson is a member of Integrated Bar of the Philippines,
She is also a member of the Mr. Nazareno was the Chairman of several subsidiaries Philippine Bar Association, Immigration Lawyers
Risk Oversight and Trust of PLDT and Smart including PLDT Communications Association of the Philippines and University of the
Committees. and Energy Ventures, Inc. (“PCEV”), ePLDT, Inc.

Executive Committee Board of Advisors
Alfonso L. Salcedo, Jr. Cirilo P. Noel RAFAEL F. SIMPAO, JR. Mr. Higdon was a member of the Advisory Board of
Chairman Vice Chairman 75, Filipino was appointed as Coca-Cola Bottling Company, Philippines (from 2007
Senior Advisor to the Board to 2012) and a Director of BPI Globe BanKO Inc. (from
effective July 1, 2019. He is 2010 to 2012) and PLC-SM Investments Corporation
also a Senior Advisor to the (from 2011 to 2019).
Bank’s Executive Committee.
He joined Capital Research and Management,
He was a Director of the a Los Angeles-based international investment
Bank (from June 1995 to management firm, as a Senior Vice President (from
May 29, 2019). Prior to this, 1974 to 2006) and has covered Philippines stocks
he was the President of the (from 1989 to 2006). Prior to this, he was a US Peace
Bank from (October 1995 to January 2004), Executive Vice Corps Volunteer in the Philippines (from 1962 to 1964).
President (from 1991 to 1995) and Senior Vice President Mr. Higdon holds a Bachelor of Science degree from
(from 1985 to 1991). the University of Tennessee System.
He is the Chairman of Security Bank Foundation, Inc.

(since 1997). He is the Chairman of Keyland-Ayala RAMON R.
Corporation, formerly known as Security Land JIMENEZ, JR.†
Corporation (since 2011); a Trustee and Treasurer of (April 27, 2020)
New Tribes Church Planters of the Philippines 63, Filipino, was appointed as
(since 2004) and a Trustee of Tany Foundation, Inc. Senior Advisor to the Board
(since 2007). He was a Director of the Bankers effective April 30, 2019.
Association of the Philippines (from 2002 to 2004), He was an Independent
a Director and Treasurer of LGU Guaranty Corporation Director of the Bank (from
(from 2000 to 2005), Trustee and Treasurer of Christ's April 2017 to April 2019).
Commission Fellowship (from 2006 to 2009) and
International Graduate School of Leadership (from 1994 Prior to his appointment as
to 2014) and a Trustee of the Cultural Center of the Independent Director of the Bank, he was the Secretary of
Philippines (from 2000 to 2001). He graduated from the Department of Tourism (from September 2011 to June
the Ateneo de Manila University with a Bachelor of Science 2016). He had over 35 years of experience in the field of
degree in Economics and is a candidate for a Master’s advertising and had been closely associated with the
Degree in Business Administration from De La Salle rise of many homegrown Philippine brands, starting his
University. career as Associate Creative Director in Ace Compton
Advertising (from 1976 to 1988). He was the Joint Chief
Executive Officer of JimenezBasic Advertising—a startup
JOSEPH R. HIGDON boutique agency called Jimenez & Partners which after
77, American, was appointed several mergers, became known in 2011 as Publicis
as Senior Advisor to the JimenezBasic (from 1989 to 2008). He was likewise the
Board effective August 1, Joint Chief Executive Officer and Senior Consultant of
2109. He was an Independent Winning Over Obstacles (WOO) Consultants (from 1988
Director of the Bank (from to 1989). He was also the Vice President and Creative
Philip T. Ang Alberto S. Villarosa Sanjiv Vohra May 2012 to July 2019). Director of Ace-Saatchi & Saatchi Advertising (from
1988 to 1989). He graduated from the University of the
He is an Independent Philippines with a Bachelor’s degree in Fine Arts, major in
Director of PLC-International Visual Communications.
Container Terminal Services,
Inc. (since 2007).

Executive Management
1 CHARLES M. 2 DANIEL U. 3 EDUARDO M. 4 JOSELITO E. 5 SANJIV 6 MARIA CRISTINA 7 RAUL MARTIN A. 8 TAKAHIRO 9 LESLIE Y.
RODRIGUEZ YU OLBES MAPE VOHRA A. TINGSON PEDRO ONISHI CHAM
4 5
2 8
1 6 9
3 7

Senior Management's Profiles
LESLIE Y. CHAM Mr. Mape is the Treasurer of Tany Foundation (since Mr. Olbes holds a Master’s degree in Finance and He graduated with a Master’s Degree in Business
54, Filipino, is Executive Vice President and Head October 2018) and an Independent Director of Cityland for Management from Leonard N. Stern School of Administration, major in Finance from the University
of the Branch Banking Group since October 1, 2008. Social Progress Foundation, Inc. (since January 2018). Management, New York University and a Bachelors of Cincinnati, USA and Bachelor of Science degree
degree in Economics from the University of California, in Management Engineering from the Ateneo de
He is a member of the Bank’s Assets & Liabilities He was a Director of Security Land Corporation (from 2010 Berkeley. Manila University, Philippines.
Committee. He is also a Director of SB Finance to 2015). Prior to joining the Bank in July 1996, he was a
Company, Inc., formerly known as Security Bank Senior Manager of Cityland Development Corporation’s
Savings Corporation (since February 2012) and Financial Management Services Division. He is a Certified RAUL MARTIN A. PEDRO MARIA CRISTINA A. TINGSON
Vice Chairman of the AMLCFT Committee. Public Accountant and graduated from the University of 52, Filipino, is Executive Vice President and Treasurer 59, Filipino, is Executive Vice President and Head of the
Santo Tomas (Cum Laude) with a Bachelor of Science of the Bank. Retail Banking Segment.
He has over 25 years of work experience and has degree in Commerce, major in Accounting.
extensive exposure in the field of sales, distribution, He is the Chairman of the Bank’s Assets & Liabilities She is a member of the Bank’s Assets and Liabilities,
wealth management, international banking, trust Committee and a member of the People Empowerment, People Empowerment and Credit Committees.
and investment services and Bancassurance. EDUARDO M. OLBES Finance and Credit Committees. He is the Chairman
Before joining the Bank, he served as Senior Vice 50, Filipino, was Executive Vice President for the of SB Forex, Inc. since May 2016. He is the Bank’s She is President (since May 2017) and Director
President and Head of Sales and Distribution of Wholesale Banking Segment until February 1, 2020. representative to the Bankers Association of the (since February 2012) of SB Finance Company, Inc.
Chinatrust Phils. Commercial Bank Corp. until He was designated as Chief Financial Officer as of Philippines’ Open Market Committee. and SB Rental Corporation (since May 2014).
September 2008. He served in various positions in February 1, 2020.
other institutions, including First Vice President of Prior to joining the Bank in November 2005, he was She was the President of SB Cards Corporation (from
Standard Chartered Bank (from 1999 to 2003), He is Chairman of the Bank’s Credit Committee. a First Vice President of Equitable PCI Treasury 2015 to 2017). Previously, she was Senior Vice President
Vice President of Philippine Commercial International He is also a member of the Bank’s Assets & Liabilities Department, Head of Foreign Fixed Income Trading and Head of Corporate Banking until 2012. She joined
Bank (from 1997 to 1999) and Vickers Ballas Asset and People Empowerment Committees. and Derivatives. He also worked as a Forward FX the Bank as an Account Assistant in 1982 and assumed
Management LTD PTE (from 1995 to 1997). He was Trader for Deutsche Bank AG, Manila. various positions, including Relationship Manager and
an Assistant Vice President of Citytrust Banking He is also the Chairman of SB Rental Corporation Head of Enterprise Risk Management of the Corporate
Corporation (from 1987 to 1995). (since May 2015), SBM Leasing, Inc. (since May 2014) He holds a Masters’ degree in Business Administration Banking Division before assuming her position as
and SB Equities, Inc. (since 2010). He is a Director of from Rutgers, the State University of New Jersey, USA and Corporate Banking Head in 2008.
He received a Bachelor of Science degree in Commerce, SB Capital Investment Corporation (since 2010). He is a Bachelor of Science degree in Business Administration
Major in Marketing Management from De La Salle a member of Financial Executives of the Philippines from the University of the Philippines in Diliman. She holds a Bachelor of Arts degree in Business
University and completed with Distinction the one year (since November 2010), the Management Association of Administration from Maryknoll College.
course of the Trust Institute Foundation of the Philippines. the Philippines (since December 2010) and Shareholders
of the Philippines (since November 2014). He is also CHARLES M. RODRIGUEZ
a Trustee of the SBC Retirement Plan (since 2011). 55, Filipino, is Executive Vice President and DANIEL U. YU
JOSELITO E. MAPE Wholesale Banking Segment Head of the Bank. 59, Filipino, is Executive Vice President and Head of the
57, Filipino, was Executive Vice President and Prior to joining the Bank in June 2010, he held various Transaction Banking Group (TBG).
Chief Financial Officer until January 31, 2020. positions in Citibank NA (Philippines) Global Banking Unit He is a member of the Bank’s Assets & Liabilities
He assumed the position of Chief Administrative (from 2006 to 2010) including his last position as Director Committee and the Credit Committee. He is also a He is a member of the Bank’s Assets & Liabilities
Officer effective February 1, 2020. responsible for the local corporate unit under Citi’s Global Director of SB Capital Investment Corporation (since Committee.
Corporate & Investment Bank. Between 2003 and 2006, May 2019) and SBM Leasing, Inc. (since May 2019).
He is also the Vice Chairman of the Finance Committee. he was a restructuring advisor to various Philippine-based He joined the Bank in 1992 as Head of the Information
He is the Chairman of the Bank’s Outsourcing, corporates. Previously, he worked in the Investment Prior to joining the Bank in October 2018, he was the Technology Group and eventually moved to the
Acquired Assets and Integrity Committees, and Banking Division of Morgan Stanley & Co. in New York Acting CEO and Head of Corporate and Institutional business side as Head of TBG, handling the Bank’s
a member of the People Empowerment Committee. (from 2000 to 2003) and prior to that, in the Investment Coverage of ANZ Banking Group Limited (from January Cash Management and eChannel Divisions. He is a
Banking Division of Bear, Stearns & Co. Inc. in New York 2010 to August 2018). He held various positions in member of the Bank’s Anti-Money Laundering and
He is a Director of SB Finance Company, Inc. (since May (from 1997 to 2000). In his prior positions, he worked Far East Bank and Trust Company, FEB Investments, Inc., Assets & Liabilities Committees. He is a member of the
2018), SB Equities, Inc. (since May 2015) and SB Forex, Inc. in several areas in Investment Banking across various ABN AMRO Bank NV and Banco De Oro Universal Operations Committee of Bancnet Incorporated.
(since July 2003) and Director/Treasurer of SB Rental geographies and industries including the Global Bank. He has extensive experience in Corporate
Corporation (since May 2014). He is the Treasurer of Communications and Media (New York and and Investment Banking.
SBM Leasing, Inc. (since 2011) and Security Finance and San Francisco/Menlo Park) and Global Retail
Leasing, Inc. and Trustee/Treasurer of Security Bank and Consumer (New York) groups.
Foundation, Inc. (since April 2009).

senior management's profiles senior management's profiles
Mr. Yu is also a Director and Chair of the Technology RONALD I. AUSTRIA JONATHAN . DIOKNO Mr. Ibarra is a Director of Asia Spice 101 Inc. (since
Committee of Bancnet and currently Operations 48, Filipino, is Senior Vice President and Region 2 Head 47, Filipino, is Senior Vice President and Cash January 2012) and Treasurer of Done Deals Asia, Inc.
Committee Head of InstaPay, National Retail Payment under Branch Banking Group. He joined the Bank in Management Head under the Transaction Banking (since May 2004) and 7107 Spices Inc. (since
System’s online real-time rail. Prior to joining the Bank, November 2009 as First Vice President and Area Head. Group of the Bank. December 2009).
he had five years’ experience as IT Head of Operations for
United Saudi Commercial Bank in Saudi Arabia. Prior to this, he served various positions in Standard He has extensive exposure in the field of cash He holds a Bachelor of Arts degree in Management
Prior to his Middle East stint, he was an IT Consultant Chartered Bank (from 1999 to 2008), PCI Bank (from 1996 management services, remittance origination and Economics from the Ateneo de Manila University and
at SGV-Arthur Andersen Consulting for two years. to 1999), Far East Bank and Trust Company (from 1995 to retail banking. Prior to joining the Bank in February a Master’s Degree in Business Management from the
He graduated from the University of Santo Tomas with 1996) and Citytrust Banking Group (from 1992 to 1995). 2019, he was First Senior Vice President and Global Asian Institute of Management.
a degree in Industrial Engineering and earned units Filipino Banking Head of Rizal Commercial Banking
for a Master’s degree in Computer Science from the He holds a Bachelor of Arts degree in Economics from Corporation (from 2017 to 2019). He served in various
Ateneo de Manila University. the Ateneo de Manila University. positions in Banco de Oro (from 2001 to 2016), Citibank JEANETTE S. KEH
NA (from 1999 to 2001), Standard Chartered Bank (from 67, Filipino, is Senior Vice President and Advisor to
1997 to 1999), and the Bank of the Philippine Islands/ the President.
JASON T. ANG MARLETTE P. BRODETT Citytrust Banking Corporation (from 1994 to 1997).
50, Filipino, is Senior Vice President and Region 48, Filipino, is Senior Vice President and Region Head. Prior to this, she was the Head of the Banking Centers
Head for the Visayas and Mindanao Area. He graduated with a Bachelor of Science degree Group and Team Head of Kalookan Banking Center.
She joined the Bank in 2004 as Senior Assistant Vice in Business Administration from the University of
He joined the Bank in 2007 as First Vice President President and Area Business Manager. Prior to joining the Philippines. She is also a member of the Credit Committee and
and Area Head for Visayas and Mindanao. Prior to this, the Bank, she was Vice President and Region Head an Advisor to the President in the Executive Committee.
he was Vice President and Region Head of International in Maybank Philippines, Inc. (from 2003 to 2004), She is a Director of SB Forex, Inc. (since July 1999).
Exchange Bank (from 1996 to 2007). Previously, he was First Assistant Vice President in Asiatrust Development GINA S. GO
with Citytrust Banking Corporation where he held various Bank (from 2000 to 2003) and Branch Head in Bank of 60, Filipino, is Senior Vice President and the Chief Prior to joining the Bank in 1996, she was First Vice
positions (from 1991 to 1996). the Philippine Islands (from 1992 to 2000). Risk Officer of the Bank. She is a member of the President of BSA Finance and Leasing Corp. and
Bank’s Integrity and Outsourcing Committees. had been with State Investment Trust, Inc.
He graduated from the Ateneo de Davao University She graduated with a Bachelor of Science degree
with a Bachelor of Science and Commerce degree, in Communication Arts from Miriam College. She was the President of SB Finance Company, Inc., She graduated from the College of Holy Spirit with a
major in Accounting. formerly known as Security Bank Savings Corporation Bachelor of Science degree in Commerce, major in
(from February 2012 to 2016). Previous to these positions, Accountancy and she earned her Master’s degree in
she was Chief Risk Officer of the Bank (2006 to 2011) and Business Administration from De La Salle University.
BELEN W. AU ABIGAIL MARIE D. CASANOVA Head of Remedial Management Division (2000 to 2005).
69, Filipino, is Senior Vice President and the Chief 45, Filipino, is Senior Vice President and Consumer
Compliance Officer of the Bank. Business and Operations Group Head under the Prior to joining the Bank in September 2000, she ANTON KHLON
Retail Banking Segment. was connected with Equitable PCI Bank where she 39, Ukrainian, is the Senior Vice President and the
She was the Head of the Head Office Operations Group accumulated 20 years of solid credit experience having Chief Information Officer of the Bank.
handling International Banking Services, Loan Operations She joined the Bank in 2015 as First Vice President and assumed various responsibilities in Corporate Banking,
and Support, Credit Division, Treasury Operations, Retail Credit Operations Group Head. She has extensive Middle Market Lending and Specialized Financial Mr. Khlon brings to the Bank significant and unique
Banking Center Operations, SB Equities Operations exposure in the field of credit cycle and consumer loans. Services Divisions. 16 years of expertise in the areas of IT Operations
and Cables Department. She served as Vice President and Home Loans Channel Management, Change Management and Transformation,
Head of Banco de Oro. She likewise held various position She graduated from the University of the Philippines Program and Projects Governance and Strategic
She was the President and Director of SB Forex, Inc. at GE Money Bank (from 2007 to 2009) and Citibank NA with a Bachelor’s Degree in Business Economics and Technical Consulting.
(from 2007 to 2019) and Managing Director of (from 1995 to 2007). a Master’s Degree in Business Administration.
SB Equities, Inc. (from 2008 to 2019). She is a member He held various senior positions in Vietnam and Ukraine
of the Operations Committee of the Bankers She earned a masters level Post Graduate Diploma in in such companies as FE Credit, Home Credit Ukraine
Association of the Philippines (BAP) and the Bank’s Global Business at the University of Oxford and graduated ORENCIO ANDRE P. IBARRA III and Vietnam, Techcombank Vietnam, DTEK Ukraine,
Voting Representative to the Bankers Institute of with a Bachelor of Science degree in Business Economics 46, Filipino, is Senior Vice President and Deputy Treasurer. Commerzbank Ukraine and Bureau Veritas Ukraine.
the Philippines (BAIPHIL). She is a Certified Public (cum laude) from the University of the Philippines. She is
Accountant, graduated from the University of the East also a certified Six Sigma Black Belt. Prior to this, he was First Vice President and Head of the Mr. Khlon received a Master’s degree in Electronics
with a Bachelor’s degree in Business Administration ALM and Trading Division. He joined the Bank as Manager from one of the most recognized technical universities
(major in Accounting) and has earned units for a in 2000 and assumed various positions in the Treasury in Europe, National Technical University of Ukraine,
Master’s degree in Business Administration from Group before he assumed the position of Chief Dealer “Kyiv Polytechnic Institute” and a Bachelor’s degree
the University of the East. in 2013. in Finance from the Kyiv University of Economy and
Law “KROK” (graduated with honors).

senior management's profiles senior management's profiles
LUIS GREGORIO M. MALOLES YUTAKA NAKABAYASHI MA. PATRICIA N. TAN PRICE EDWARD C. YAP
51, Filipino, is Senior Vice President and Senior 45, Japanese, is Senior Vice President and Head of 45, Filipino, is Senior Vice President and Head of 47, Filipino, is Senior Vice President and Sales Division
Relationship Manager and Team Head under the the Japan Desk. Retail Marketing. Head under the Treasury Group.
Corporate Banking Group of the Bank.
He is a secondee of MUFG to Security Bank. He first Prior to joining the Bank in 2013, she served as Prior to joining the Bank in 2016, he accumulated
He joined the Bank in 2016. He has extensive exposure joined Security Bank as the Deputy Head of the Alliance OFW Segment Head of Philippine National Bank 22 years of work experience from Mitsubishi UFJ
in the field of portfolio management and account Segment. He served as Chief Manager in charge of (from 2006 to 2013), Marketing Head of Globe Telecom Securities (Singapore), Ltd. (from 2011 to 2015), held
origination. He was the Executive Director and Segment Krungsri, East Asia and Asia Oceania Head Quarters at (from 2004 to 2006) and Cards Marketing Head of various positions in Citigroup, Inc. (from 2000 to 2011)
Head for Local ASEAN International Corporations and the Global Planning Division in Tokyo. He held various Union Bank of the Philippines (from 1997 to 2004). and as Manager of Solid Bank Corporation (from 1997
Commodities, Trading and Agricultural clients of Standard positions in MUFG/BTMU, including Senior Manager to 2000).
Chartered Bank (from 2013 to 2015). He held various for Regional Strategy Planning, in charge of Americas She graduated with a Bachelor’s degree in Management
positions in Citibank NA Hong Kong (from 2011 to 2013), Business at the Global Planning Division in Tokyo, of Financial Institutions from De La Salle University. He graduated with a Bachelor of Science degree in
Citibank Philippines (from 2004 to 2009), Asia United Senior Manager for the intelligence and Research Office Management, major in Legal Management from the
Bank (from 2001 to 2004), Banco de Oro Santander (from in charge of liaison with Japanese Financial Services Ateneo de Manila University. He earned his Master’s
1999 to 2000), Philippine Commercial International Bank Agency with regard to Global Business at the Global CAROL P. WARNER degree in Business Administration from the Ateneo
(from 1996 to 1999), Far East Bank and Trust Company Planning Division in Tokyo, Manager/Senior Manager 51, Filipino, is Senior Vice President and the Graduate School of Business.
(from 1995 to 1996) and Rizal Commercial Banking for Strategic Planning/Legal at the Planning Division Chief Audit Executive of the Bank. She joined the Bank
Corporation (from 1992 to 1995). for the Americas/Legal Division for the Americas in in September 2006 as Head of IS Audit Department
New York, Manager for Business Promotions: Japanese before her appointment as Chief Audit Executive-OIC
He graduated with a Bachelor of Arts degree in and Hong Kong Corporates at the Hong Kong Branch/ in January 2012 and Chief Audit Executive in June 2012. The Executive Officers are appointed/elected by the
Development Studies from the University of the Kowloon Branch in Hong Kong, seconded to Chiyoda Board of Directors during the organizational meeting
Philippines. Corporation, Project Finance Division (Japanese Gas/ Prior to joining the Bank, she was a Risk Manager of following the stockholders’ meeting, each to hold
Oil Plan Engineering Company), Associate for Corporate JP Morgan Chase Bank NA – PCCC, Chase Card Services office for a period of one year.
Banking at the Corporate Banking Division No. 4 (from March to August 2006), IS Audit Department Head
YVONNE JOANNA P. MARCELO in Tokyo and Associate for Commercial Banking at the of Security Bank Corporation (from 2003 to 2006),
49, Filipino, is Senior Vice President and Senior Ueno Branch also in Tokyo. IT Auditor and Systems Risk Analyst of Rizal Commercial
Relationship Manager and Team Head under the Banking Corporation (from 1992 to 2001, and 2001 to 2003,
Corporate Banking Group of the Bank. He graduated from Keio University, Tokyo, Japan with respectively) and Auditor of Sycip, Gorres, Velayo & Co.
a Bachelor of Arts in Law degree and from the University of (from 1989 to 1991).
She joined the Bank in 2001. She has extensive experience Pennsylvania Law School with a Master of Laws degree.
in corporate and project finance in infrastructure, real She is a Certified Public Accountant (CPA), Certified
estate, power and energy, utilities, mining and other Internal Auditor (CIA) and Certified IS Auditor (CISA).
industries. She was a Relationship Manager in Far East JORGE LINDLEY S. ONG She graduated with a Bachelor of Arts degree, major
Bank and Trust Company (from 1996 to 2000), Assistant 47, Filipino, is Senior Vice President and Head of the in Mathematics and a Bachelor’s degree in Commerce,
Manager in Union Bank of the Philippines (from 1995 to Banking Centers Group. He is a member of the Bank’s major in Accounting from De La Salle University.
1996), and Management Trainee and Pro-Manager in Credit Committee.
Bank of Commerce (from 1991 to 1994).
He joined the Bank in 2007. He was the Head of Kalookan
She graduated with a Bachelor of Science degree in and North Metro Banking Center. Prior to joining the
Business Economics from the University of the Philippines Bank, he was a Senior Relationship Manager in
and earned units for a Master’s degree in Business BDO Unibank (from 1995 to 2007).
Administration from the Ateneo de Manila University.
He graduated from the University of Santo Tomas
with a Bachelor of Science degree in Commerce.

Executive Directory Contents
LIST OF EXECUTIVE MANAGEMENT SB CAPITAL INVESTMENT
CORPORATION
Corporate Governance 93
President and Chief Executive Officer President
Policy Statement 93
Sanjiv Vohra Virgilio O. Chua
Core Principles 93
Investment Banking The Board of Directors 94
Executive Vice Presidents First Vice Presidents Senior Directors Risk Management 103
Leslie Y. Cham John Francis B. Angeles Denis Patrick G. Du Overview of Risk Management Framework 103
Joselito E. Mape Ma. Lourdes V. Borromeo Joy V. Supan Core Principles 103
Eduardo M. Olbes Fe V. Capistrano
Risk Management Scope and Structure 104
Takahiro Onishi Bee Bee S. Chua Syndication and Distribution
Market Risk Management 105
Raul Martin A. Pedro Helen L. Chua Head, Senior Director
Charles M. Rodriguez Aristotle I. Cruz Daisy S. Garcia Liquidity Risk Management 105
Ma. Cristina A. Tingson Ropi F. Dangazo Credit Risk Management 106
Daniel U. Yu Monina J. Delarmente Operational Risk Management 106
Carlyn Therese X. Dulay SB FINANCE COMPANY, INC. Model Risk Management 107
Daniel S. Dy
Management of Other Risks 107
Senior Vice Presidents Michael A. Gamo President
Capital Management 109
Jason T. Ang Ma. Paz Victoria R. Gonzalez Ma. Cristina A. Tingson
Belen W. Au Irene E. Guban Risk Appetites and Limits 109
Ronald I. Austria Cristina V. Henson 2019 Highlights 110
Marlette P. Brodett Johanna S. Hernandez SBM LEASING, INC. Compliance 111
Abigail Marie D. Casanova Michael A. Imperial Statement of Compliance Policy 111
Jonathan C. Diokno John Joseph C. Jocson President
Compliance System 111
Gina S. Go Makoto Kurimura Angelito Miguel A. De Leon
Regulatory Compliance 111
Orencio Andre P. Ibarra III Jocelyn Victoria B. Labrador
Jeanette S. Keh Rafael Martin C. Lara Anti-Money Laundering 112
Anton Khlon Irahlyn S. Lariba SB EQUITIES, INC. FATCA 112
Luis Gregorio M. Maloles Martin G. Ledesma Policy on Related Party Transactions 113
Yvonne Joanna P. Marcelo Celeste Marie V. Lim President Consumer Protection and Data Privacy 114
Yutaka Nakabayashi Kim O. Lim Warren T. Sy
Anti-Bribery and Corruption 115
Jorge Lindley S. Ong Maria Margarita R. Mirabueno
Other Corporate Governance Policies 115
Ma. Patricia N. Tan Rebecca P. Muyot
Carol P. Warner Ryan Anthony A. Noblejas SB RENTAL CORPORATION Audit Committee Report 117
Price Edward C. Yap Zenaida A. Ong Audited Financial Statements
Paul Benedict F. Perez President Statement of Management Responsibility
Noel S. Reyes Armando A. Inabangan, Jr. for Consolidated Financial Statements 118
Joyce L. So Independent Auditor's Report 119
Satoshi Sugioka
Statements of Financial Position 122
Yuji Suzuki
Statements of Income 123
Wee Sing O. Sy
Zenaida L. Tan Statements of Comprehensive Income 124
Ricardo G. Torres Statements of Changes in Equity 125
Maris Lou S. Velicaria Statements of Cash Flows 127
Johann T. Victor GRI Content Index 129
Enrico P. Villanueva
Branch Directory 133
Mae S. Villanueva
Products & Services 145
Milarey M. Wee
Contact Us 146

Corporate Governance
GRI 102-18
POLICY STATEMENT The Bank’s Board-approved Manual of Corporate Selection Process The Bank continually updates its Manual of Corporate
Governance embodies the corporate governance rules The Bank sources its candidates through professional Governance to align itself with the country’s governance
The Board of Directors and Management of Security Bank and regulations of the BSP, the SEC, the Philippine management associations such as the Financial Executive regime and global best practices, particularly with the
Corporation and its Subsidiaries (SBC Group) commit Stock Exchange (PSE), and global best practices, of the Philippines (FINEX) and Institute of Corporate ASEAN Corporate Governance Scorecard. This further
to the principles and best practices that promote good which incorporate policies in the compliance system. Directors (ICD), as well as referrals of other Board strengthens the corporate culture of boosting sustainability
corporate governance as embodied in the regulations of This ensures disclosure and transparency to uphold the Members and Senior Management. Procedures are in and continuously thriving on delivery of better customer
the Bangko Sentral ng Pilipinas (BSP) and the Securities rights of the Bank’s stockholders and other stakeholders, place to allow the stockholders to nominate and elect experience and shareholder value.
and Exchange Commission (SEC), and acknowledge and to instill awareness in directors, officers and Directors to the Board. The recommended candidates for
that the same may properly guide the Bank in attaining employees of their responsibilities to conduct business board membership are submitted to the Nominations and THE BOARD OF DIRECTORS
its corporate goals and objectives, of which increasing in a safe and sound manner at all times. Remuneration Committee either via direct submission
shareholder value, giving excellent service to customers or through the Office of the Corporate Secretary. The Board of Directors is primarily responsible for the
and complying with laws, rules and regulations are of Since 2013, the Bank has adopted the Global Reporting From among the nominees for Board seats as cleared governance of the Bank, ensuring that the Bank is steadily
primary importance. Initiative (GRI) Framework to ensure compliance with by the Nominations and Remuneration Committee and run in a prudent and sound manner under high standards of
global standards in the disclosure of environmental, endorsed by the Board, the shareholders elect the Board honesty, integrity and best practice. The Board reviews,
The Shareholders, Board of Directors and Senior social and economic performance and impact of the members during the annual meeting of shareholders. guides and approves the corporate strategy and major
Management believe that corporate governance is organization. SBC consistently carries out measures to plans; sets performance objectives; monitors implementation
a necessary component of what constitutes sound continue improving service to clients and stakeholders The Board has also created a Search Committee from and corporate performance and oversees major capital
strategic business management and will therefore as embodied in its practice related to Information Access among the members of the Nomination and Remuneration expenditures, acquisitions and divestitures, in order to
undertake every effort necessary to create awareness Management, Accountability to Stakeholders and Audit, Committee. The Search Committee ensures efficiency sustain the company’s long-term viability and strength.
and ensure compliance with corporate governance Stockholders’ Rights and Protection of Stockholders’ and thoroughness in the search for Directors and Senior
policies and practices within the organization through Minority Interest, Governance Self-Rating System, Management. The Search Committee was likewise given The Board, together with the Bank’s Senior Management
its BetterBanking endeavors. Disclosure and Transparency. the authority to negotiate terms and conditions with team, holds two planning sessions a year, which chart the
candidates until closing. Bank’s strategic directions given changes in the operating
CORE PRINCIPLES Information Access Management environment to ensure alignment of bankwide efforts in
Complete, timely and accurate information are readily The Board of Directors oversees the selection process the delivery of the operating and strategic objectives.
Security Bank Corporation (SBC) consistently adheres available to the Board of Directors that would enable them to appoint a competent Management team by applying One session is set to discuss operating plans for the year
to good corporate governance principles of fairness, to make a well-informed judgment. This is made possible the Fit and Proper standards, integrity, technical and another session to discuss the medium-term plans
accountability and transparency in all its dealings, through the effective information framework existing expertise and experience in the institution business for the next three years. The 2020 operating plans and
ensuring a high degree of integrity in the conduct of throughout the organization, coupled with an information as key considerations. budgets were approved by the Board in December 2019.
all its affairs. access system, which warrants that information always
reaches the Board and stakeholders in a timely manner. The overall responsibility of the Board of Directors is In December 2018, the Board reviewed the Statements
The Bank is substantially compliant with the SEC Code captured in the key elements of the fiduciary duty, of Vision, Mission and Values. The Bank's vision remains
of Corporate Governance and in accordance with the Accountability and Audit such as the duty of care and duty of loyalty. The duty of unchanged, as follows: “To be a world class bank, that is
requirements of the SEC Code, and where applicable, The Board is accountable to the stockholders. Thus, it care requires board members to act on a fully informed the best of the best, a lifetime partner in fulfilling dreams,
properly explains where existing practices vary with is imperative to provide a balanced and comprehensive basis, in good faith, with due diligence and care. across generations, beyond borders.”
proposed best practices under the Code. assessment of the Bank’s performance, position and In exercising the duty of loyalty, board members should
prospects on a periodic basis, including the reportorial act in the interest of the Bank and all its shareholders The Board likewise approved a more succinct Mission
In carrying out its advocacy of good corporate requirements of the regulatory bodies. The Bank’s internal and not those of the controlling company of the group Statement as follows: “We enrich lives, empower
governance, SBC has implemented a Governance System control system is a process designed and effected by the or any other stakeholders. Furthermore, the Board businesses and build communities through financial
that encompasses the three critical pillars consisting of Board of Directors and Senior Management to provide is also responsible for monitoring and overseeing service excellence,” which is envisioned to resonate
(1) a Board of Directors that provides direction for business reasonable assurance on the achievement of objectives the performance of Senior Management as the more with employees, customers and stockholders.
and risk strategies, organization, financial soundness through efficient and effective operations. latter manages the daily affairs of the Bank.
and governance; (2) Senior Management that carries the The core beliefs have also been reaffirmed with
implementation of the strategies and initiatives set and Stockholders’ Rights and Protection of The Board, in carrying out its duties, defines the Bank’s Statements of Values covering People, Integrity,
approved by the Board; and (3) an internal control system, Stockholders’ Minority Interests risk management strategy that provides a structured Empowerment, Innovation and Execution Excellence
which covers implementation of the key control functions, The Bank, through its Board of Directors, strongly and rationally sound approach in identifying, assessing that will guide decision making and establish
such as risk management, compliance and internal audit. respects the rights of the stockholders as provided for and managing the risks to which the Bank is exposed. a standard against which actions can be assessed.
by the Revised Corporation Code. The Bank’s risk strategy includes processes that provide
for regular updating and review of the assessment based
on new developments or actions taken.

corporate governance corporate governance
The Board Profile Matrix below shows the diversity and members and the efficiency of the execution of the
BOARD OF DIRECTORS
in gender, nationality, age and experience. roles and responsibilities of the Board, taking into account
the review, communication and reportorial processes
Office of the Corporate Secretary The Corporate Governance Committee, through the and procedures within the Board. The assessment
Compliance Office, conducts an annual performance results were presented to the Board in February 2019
assessment of the Board of Directors, as a collegial as part of the evaluation of members who may be
body and individually as Directors, the different seeking re-election.
Board Committees and the Chief Executive Officer.
Nominations and Related Party
Audit Executive Risk Oversight Trust Performance assessment guidelines are continuously The performance evaluation of the Board, its members
Remuneration Transactions
Committee Committee Committee Committee
Committee Committee enhanced to strengthen the review mechanism and and its committees are endorsed to the Nominations
ensure accuracy of performance evaluation. and Remuneration Committee as part of the nominations
The Corporate Governance Committee reviews the process. The nominees for Board positions are endorsed
Internal
People
Credit Risk Management Outsourcing Trust and Asset current profile of the Board to ensure conformity with to the shareholders for election during the annual meeting
Empowerment
Audit Division
Committee
Committee Group Committee Management Group the set qualification standards and appropriate skills of stockholders. Succession planning in the Board is well
are aligned with the strategic objectives of the Bank. in place, wherein vacancies in the Board may be filled up
The assessment covers full compliance with the provisions by appointment or election of the remaining directors,
and requirements of the Bank’s Manual of Corporate if still constituting a quorum; otherwise, the stockholders
Governance. In February 2019, an external service shall fill such vacancy in a regular annual meeting or
Technology Corporate
Restructuring Finance
Execution Excellence Governance
Transformation provider conducted an independent assessment of the special meeting called for the purpose.
Committee Committee Committee
Committee Committee effectiveness of its Board of Directors, its committees
Assets and Board Profile Matrix Current Directors

Acquired Assets Compliance AML Integrity
Liabilities 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
Committee Office Committee Committee
Committee
GHB
CPN
NLN
DPA
ASV
FYD
ESC
AYD
ALS
PTA
JKH
MS
TO
SV
JK
Gender
Male ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Female ✓ ✓ ✓
Age
Age 30–49
The Board is composed of 15 highly qualified business Security Bank recognizes and embraces diversity in the Age 50–64 ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
professionals. Of the 15, six are independent directors, Board. The Board has an Objective on Gender Diversity, Age 65+ ✓ ✓ ✓ ✓ ✓
seven are non-independent non-executive directors to maintain at least two female Board members and Ethnicity/Race
and two are executive directors. to take opportunities to increase over time that number Filipino ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
where it is consistent with skills, experience and other Foreign/Other Cultures ✓ ✓ ✓ ✓ ✓
In 2019, the Board welcomed four new Board Members: diversity requirements, as well as global best practice. Experience
Masaaki Suzuki, Gerard H. Brimo, Sanjiv Vohra and The Bank currently has three female Board members Academe/Education ✓ ✓ ✓
Enrico S. Cruz. These served as replacements in view (or 20% of its total composition), which is above the Accounting/Risk Management/Audit ✓ ✓ ✓ ✓ ✓
of the reassignment of Atsushi Murakami, the retirement norm for Philippine corporations. Four of the Board Financial Services ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
of Rafael F. Simpao, Jr. and the resignations of the late members are in the 50 to 60 age bracket while 11 directors Government Sector ✓
Ramon R. Jimenez, Jr.† and Joseph R. Higdon for personal are in the over 60 age group. The Board likewise benefits Legal ✓ ✓
reasons. from the global experience of its members whose home Management/Operations/Strategy ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
countries include Japan, Korea, Taiwan and India. Sales/Marketing/Business Development ✓ ✓ ✓
New directors, upon onboarding, are given an Orientation Technology ✓ ✓
Program on the Bank’s businesses. Continuing education The Board is composed of members with various Other industries ✓ ✓ ✓ ✓
is provided through trainings by the Bank and by outside backgrounds and skills, offering different viewpoints Political/Reputational Capital
service providers accredited by the BSP and the SEC. and competencies that can be a competitive advantage Corporate Sector ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
In April 2019, the Board members, together with Senior in formulating business strategy and improving company Nonprofit/NGO Sector ✓ ✓ ✓ ✓ ✓
Officers, attended a continuing Corporate Governance performance. Profiles of the members of the Board are a Government Sector ✓
training program covering the areas of Technological part of this report.

Innovation, IT Governance and Data Privacy.

The roles of the Chairman and the Chief Executive Security Bank provides Senior Management with a Total No. of Direct (D) and Indirect (I) Nature of
Officer are kept separate. The Chairman is responsible remuneration program that is equitable and commensurate No. of Years Shares Held as of December 31, 2019 % to Total
Name of Director Beneficial
as Director Voting Shares
for ensuring the effective functioning of the Board, to the responsibilities of each key officer. The Bank maintains Common Stock Preferred Stock Ownership
maintaining a relationship of trust with Board members. a competitive remuneration standard among industry
Frederick Y. Dy 30 years 86,865,273 253,207,671 Direct 19.39%
The Chairman makes sure that a sound decision making peers to promote overall motivation and satisfaction,
Alberto S. Villarosa 17 years 3,720,533 41,000,000 Direct 2.55%
process is in place by encouraging critical discussions, taking into consideration current industry trends and
Philip T. Ang 38 years 124 99 Direct 0.00%
with dissenting views expressed and discussed, and regulatory provisions, as well as alignment with the
independent views given due respect and consideration. long-term interests of the Bank, including the overall Gerard H. Brimo 8 months 10 0 Direct 0.00%
The Chairman is assisted by a Corporate Secretary who business and risk strategy. Our philosophy is to provide Enrico S. Cruz 4 months 10 0 Direct 0.00%
is responsible for the safekeeping and preservation of appropriate remuneration based on specific financial Diana P. Aguilar 2 years 10 0 Direct 0.00%
the integrity of the minutes of meeting of the Board and and non-financial metrics to measure performance and Anastasia Y. Dy 24 years 14,523,968 33,000,000 Direct 2.71%
its committees, as well as other official records of the set specific provisions for key officers with significant Masaaki Suzuki 8 months 3 0 Direct 0.00%
corporation and elevates issues arising from relevant influence on the overall risk profile of the Bank.
Takahiro Onishi 3 years 5 0 Direct 0.00%
laws and industry developments, which are relevant
Cirilo P. Noel 1 year 10 0 Direct 0.00%
in making business judgments in good faith. The Board meets every last Tuesday of the month in
James J. K. Hung 29 years 4,553,588 0 Direct 0.26%
accordance with the Bank’s by-laws. A schedule of the
The directors receive fees and bonuses, while the Board meetings is presented to the new Board upon Jikyeong Kang 2 years 10 0 Direct 0.00%
executive directors receive salaries, bonuses and their election in April as part of the Organizational Board Napoleon L. Nazareno 2 years 10 0 Direct 0.00%
other usual bank benefits. Executive directors are meeting. In 2019, the Board held a total of 12 meetings. Alfonso L. Salcedo, Jr. 4 years 327,010 0 Direct 0.02%
entitled to fixed compensation and performance- Sanjiv Vohra 5 months 10 0 Direct 0.00%
based bonuses plus fees for attendance in meetings. The Corporate Governance Policy calls for the
Non-executive directors receive performance-based Bank to achieve excellence in business while behaving
bonuses and fees for attendance in meetings of the in a safe and environmentally responsible manner to build
Board and its committees. The directors have no other a sustainable franchise. The Sustainability Report is part
compensation plan or arrangement with the Bank. of this Annual Report.
No warrants or options are held by them. In 2019,
executive compensation inclusive of bonuses for all officers
and directors as a group amounted to PHP3.760 billion.
Name of Director Attendance %

Frederick Y. Dy 11 of 12 meetings 92%
Alberto S. Villarosa 12 of 12 meetings 100%
Anastasia Y. Dy 12 of 12 meetings 100%
Diana P. Aguilar 12 of 12 meetings 100%
Philip T. Ang 11 of 12 meetings 92%
Gerard H. Brimo 7 of 9 meetings 78%
Enrico S. Cruz 5 of 5 meetings 100%
Takahiro Onishi 12 of 12 meetings 100%
Masaaki Suzuki 9 of 9 meetings 100%
Cirilo P. Noel 12 of 12 meetings 100%
James J. K. Hung 11 of 12 meetings 92%
Jikyeong Kang 12 of 12 meetings 100%
Napoleon L. Nazareno 10 of 12 meetings 83%
Alfonso L. Salcedo, Jr. 12 of 12 meetings 100%
- Director Suzuki was elected to the Board effective April 1, 2019

- Director Brimo was elected to the Board effective April 30, 2019
- Director/President Vohra was elected to the Board effective July 1, 2019
- Director Cruz was elected to the Board effective August 1, 2019

CORPORATE GOVERNANCE COMMITTEE NOMINATIONS AND RISK OVERSIGHT COMMITTEE • Approved and endorsed for approval of the Board
REMUNERATION COMMITTEE the Contingency Funding Plan appropriate for the
Function Function Bank and Subsidiaries
Responsible for ensuring the Board's effectiveness and Functions Oversight of the Bank’s exposure to financial
due observance of corporate governance principles • Reviews and evaluates the qualifications of all persons and non-financial risks AUDIT COMMITTEE
and guidelines nominated to the Board and other appointments that
require Board approval Composition Attendance %
Functions
Composition Attendance % • Assesses the effectiveness of the Board's processes Enrico S. Cruz*** Chairman 5 100%
Review of internal control and risk management systems,
Napoleon L. Nazareno Chairman 9 82% and procedures in the election and replacement Napoleon L. Nazareno Vice Chairman 9 75% processes for financial control, internal and external
Philip T. Ang** Vice Chairman 5 100% of directors Diana P. Aguilar**** 2 100% audits and compliance with laws and regulations
• Establishes a formal and transparent procedure for
Gerard H. Brimo** 4 80% James J. K. Hung 8 67%
developing policy on remuneration of directors and Composition Attendance %
Anastasia Y. Dy 11 100% Jikyeong Kang 12 100%
officers to ensure that compensation is consistent Gerard H. Brimo* Chairman 2 67%
Masaaki Suzuki* 8 100% with the Bank's culture, strategy and the business Takahiro Onishi 12 100%
Enrico S. Cruz* Vice Chairman 2 67%
Jikyeong Kang 6 100% environment in which the Bank operates Alfonso L. Salcedo, Jr.** 6 100%
Cirilo P. Noel 9 100%
Atsushi Murakami 3 100% Alberto S. Villarosa* 5 83%
Composition Attendance % James J. K. Hung 6 100%
Joseph R. Higdon 5 83% Joseph R. Higdon* 3 100%
Philip T. Ang Chairman 12 92% Joseph R. Higdon 4 67%
*Appointed as member effective April 1, 2019 (vice Director A Murakami) Cirilo P. Noel 1 25%
**Appointed as member effective August 1, 2019 (vice Directors J Kang James J. K. Hung Vice Chairman 11 85% *Appointed as member effective August 1, 2019
and J Higdon) Ramon R. Jimenez, Jr.† 1 25% (vice Director J Hung and J Higdon)
Number of meetings in 2019: 11 Enrico S. Cruz* 5 100%
Rafael F. Simpao, Jr. 6 100% Number of meetings in 2019: 9
Anastasia Y. Dy 13 100%
* Appointed as member effective April 30, 2019
Alberto S. Villarosa 13 100% (vice Directors C Noel and R Jimenez†) Accomplishments
Accomplishments **Appointed as member effective July 1, 2019 (vice R Simpao)
• Reviewed results of performance evaluation of • Reviewed and submitted for approval of the
Joseph R. Higdon 6 75% ***Appointed as member effective August 1, 2019 (vice Director J Higdon)
Compliance Office and Chief Compliance Officer ****Appointed as member effective November 1, 2019 Board-revised Audit Committee Charter
*Appointed as member effective August 1, 2019 (vice Director J Higdon) (vice Director A Villarosa)
• Performed oversight of Compliance function, • Approved changes to Internal Audit’s
Number of meetings in 2019: 13 Number of meetings in 2019: 12
including review of the BSP Report of Examination methodologies, policies and procedures
and assessment of replies and periodic reports of • Reviewed and reported to the Board the
Accomplishments Accomplishments
the Compliance Office, monitoring of implementation performance appraisal of the Chief Audit Executive
• Evaluated and recommended new board membership • Strengthened risk management by enhancing
of the Compliance Plan covering General Regulations • Reviewed and recommended for approval of
• Reviewed and approved senior officer new hires the existing credit, market, liquidity and
and AML, evaluation of results of independent the Board the remuneration of the Chief Audit
• Reviewed and approved various policies as operational risk policies
compliance testing and updates on policies and Executive and Key Internal Auditors
recommended by the People Empowerment • Reviewed and approved all trading activities
manuals relating to Corporate Governance,
Committee relating to employee benefits • Assessed the performance of external
Compliance Program and MLPP and its exceptions, business risk review
• Reviewed manpower reports auditors and ensured their independence
• Reviewed administrative cases and adequacy of relating to various industries
• Reviewed adequacy of charter and • Endorsed to the Board the appointment of the
committee charters • Approved various credit, market, liquidity
organizational structure external auditor
• Implemented a continuing education program for and operational risk policies to strengthen
• Reviewed and approved board and committee • Reviewed and approved for endorsement
Board members risk management practices, such as:
assignments, concurrent assignments within
• Monitored and evaluated the status updates the interim and annual audited financial
the group, executive compensation disclosures, —— Market Risk policies relating to current trading
of compliance with regulatory directives statements prior to submission to the Board
annual remuneration of the Chief Audit Executive and brokering programs, risk rating models,
• Evaluated, reviewed and approved outsourced
and other key Audit Personnel risk limits for subsidiaries, ECL Models
internal audit engagements
—— Credit Risk policies relating to Credit and
• Reviewed and monitored the adequacy and
Consumer Loans, Approving Authorities and
effectiveness of internal control system including
Credit Limits, Credit Classifications, Impairment
information technology, financial, operational
assessment, Insurance renewal, write-off of
and compliance controls and risk management
accounts and documentary requirements for
• Reviewed and approved the annual internal
corporate and retail loans
audit risk assessment and plan to ensure its
—— Operational Risk policies relating to Risk and
conformity with the objectives of the Bank
Control Self-Assessment (RCSA), Fraud Risk,
• Reviewed final audit reports and monitored that
Compliance Risk, Information Security Risk,
management is taking necessary corrective actions
Business Continuity Management Framework,
in a timely manner to address the weaknesses,
Client Suitability and Appropriateness
non-compliance with policies, laws and regulations
Assessment and Crisis Management Policy
and other issues identified by the auditors
—— Updates on market, credit and operational
• Monitored outstanding internal and external
risks of the Bank’s Trust Division
audit issues

RELATED PARTY TRANSACTIONS COMMITTEE RESTRUCTURING COMMITTEE FINANCE COMMITTEE Accomplishments

• Reviewed and approved Bank’s plan relating to
Function Function Function transformation, talent management and development,
Ensures that related parties are handled in a sound and Approves remedial and/or recovery strategies Oversight of the financial management of the Group, performance management, innovation, empowerment
prudent manner, with integrity and in compliance with of the Bank for identified problem loan accounts including capital planning and compliance with and data governance
applicable laws and regulations to protect the interest of regulatory limits with respect to capital, liquidity
depositors and stakeholders Composition Attendance % ratios and other measures as may be required by TECHNOLOGY EXECUTION
Alfonso L. Salcedo, Jr. Chairman 4 80% the relevant regulatory agencies EXCELLENCE COMMITTEE
Composition Attendance %
Alberto S. Villarosa 3 60%
Jikyeong Kang** Chairman 5 100% Composition Attendance % Function
Sanjiv Vohra* 0 0%
James J. K. Hung** Vice Chairman 4 80% Cirilo P. Noel* Chairman 2 100% Responsible for overseeing the effective, cost-efficient
Rafael F. Simpao, Jr. 3 100%
Joselito E. Mape Vice Chairman 6 86% application information technologies and related human
Diana P. Aguilar 11 100% *Appointed as member effective July 1, 2019 (vice Director R Simpao)
capital resources to support the strategic goals and
Philip T. Ang 5 83% Number of meetings in 2019: 5 Anastasia Y. Dy 3 43%
needs of the Bank
Gerard H. Brimo* 2 67% Raul Martin A. Pedro 7 100%
Ramon R. Jimenez, Jr.† 3 100% Accomplishments Alberto S. Villarosa 7 100% Composition Attendance %
*Appointed as member effective April 30, 2019 (vice Director R Jimenez†) • Reviewed and endorsed for Board approval Sanjiv Vohra* 1 50% Sanjiv Vohra* Chairman 5 100%
**Appointed as member effective August 1, 2019 (vice Directors P Ang
proposed recovery strategies for identified *Appointed as Chairman/Member effective August 1, 2019 Diana P. Aguilar 7 64%
and G Brimo)
**Appointed as member effective July 1, 2019 (vice Director A Salcedo)
problem loan accounts
Number of meetings in 2019: 11 Geraldine S. Dy**** 4 100%
Number of meetings in 2019: 7
Anton Khlon** 6 100%
TRUST COMMITTEE
Accomplishments Accomplishments Napoleon L. Nazareno*** 1 33%
• Approved policy revisions on related party transactions Function • Reviewed and endorsed to the Board the financial Tina Marie Stockdale 8 100%
• Endorsed material RPT transactions for approval Oversight of proper management and administration performance and budget plan *Appointed as Chairman/Member effective July 1, 2019 (vice Director A Salcedo)
• Confirmed report of non-material RPT transactions of the Trust and other fiduciary business of the Bank, • Reviewed the funding initiatives relating to **Appointed as member effective June 1, 2019
***Appointed as member effective July 1, 2019
including its investment activities bilateral loan, committed credit facility, Long Term ****Appointed as member effective August 1, 2019
EXECUTIVE COMMITTEE Negotiable Certificates of Deposit (LTND), Number of meetings in 2019: 11
Composition Attendance % Philippine PHP fixed rate bond and deposit campaign
Function Diana P. Aguilar Chairman 4 100% • Reviewed and updated the Internal Capital Adequacy Accomplishments
As the highest credit decision-making body, reviews Philip T. Ang* Vice Chairman 3 100% Assessment Process (ICAAP), Business Model in • Reviewed technology initiatives for value, potential
and approves proposals and transactions related to compliance with the Liquidity Coverage Ratio based returns and support of the Bank’s strategic plans
Alfonso L. Salcedo, Jr. 4 100%
credit and works closely with the Risk Management on BSP prescribed parameters and Bank’s parameters • Prioritized and approved new enterprise and
Sanjiv Vohra** 2 100%
Group in managing the overall credit risk of the Bank • Approved sale of ROPA as recommended by the business projects
Mara Carmencita R. Lopez 4 100% Acquired Assets Committee • Approved outsourcing agreements for cloud
Composition Attendance % Alberto S. Villarosa 2 100% service engagements and shared-services type
Alfonso L. Salcedo, Jr. Chairman 49 96% Ramon R. Jimenez, Jr.† 1 100% TRANSFORMATION COMMITTEE of engagements
Cirilo P. Noel Vice Chairman 41 80% *Appointed as member effective April 30, 2019 (vice Director R Jimenez†)
• Reviewed, approved and monitored IT policies,
**Appointed as member effective August 1, 2019 (vice Director A Villarosa) Function procedures, guidelines and standards
Philip T. Ang 46 90%
Number of meetings in 2019: 4 Responsible and accountable for driving the • Reviewed and monitored incidents and
Sanjiv Vohra* 18 69%
transformation and innovation initiatives and problem management
Anastasia Y. Dy Alternate Member 2 100% for creating the ideal culture to drive innovation • Reported IT performance and status of projects to
Rafael F. Simpao, Jr. Advisor 41 80% Accomplishments the Board
*Appointed as member effective July 1, 2019 (vice Director R Simpao) • Approved Budget and Plans for the Trust Division Composition Attendance %
Number of meetings in 2019: 51 • Approved amendments in Trust Risk Policies, Jikyeong Kang Chairman 6 100%
Manuals, Trust Compliance Plans and Program Anastasia Y. Dy Vice Chairman 2 33%
Accomplishments and Declarations of Trust of various Funds
Cirilo P. Noel 5 83%
• Reviewed and approved credit transactions • Reviewed actual performance of the Trust Division
Alberto S. Villarosa 5 83%
over authority limits of the Credit Committee and outstanding investments of all Trust and
managed accounts Sanjiv Vohra* 3 100%
• Approved and endorsed to the Board the results Tina Marie Stockdale 4 100%
of external audit on Trust Funds operated by Trust *Appointed as member effective July 1, 2019
• Reviewed stress testing, process and operational risks Number of meetings in 2019: 6
for UITFs

Risk Management
GRI 102-11
Sound risk management is an integral part of our 3. Adherence to Human Resource practices 5. Ensure the proper and consistent implementation Chief Risk Officer and Risk Management
BetterBanking promise. We ensure continued financial that recruit and retain employees and provide of the risk management plan of the Group; Group Organization
soundness to safeguard the interests of our stakeholders, training in requisite skills to support the mission; 6. Review and revise the risk management
while remaining agile in seizing business opportunities. 4. Responsibility delegated throughout the Bank plan as needed; The ROC’s execution and operational arm is primarily the
We proactively identify and monitor the top and emerging to provide empowerment and accountability; 7. Oversee the management of the Risk Management Group (RMG), headed by the Chief Risk
risks that may impact Security Bank Corporation (SBC) 5. A risk structure that implements control Risk Management Group; and Officer (CRO). The CRO is independent from executive
and its subsidiaries. We continue to innovate and enhance processes including structured management reporting, 8. Take on additional responsibilities as may functions and business line responsibilities, operations
our risk management framework and processes to adopt a system of independent review be designated by the BOD. and revenue-generating functions, and reports directly
to the constantly evolving regulatory and technological and active Board oversight; and to the ROC. The risk management oversight covers all
landscape. We continue to invest in our people, developing 6. A risk culture that seeks to anticipate and risk areas but especially focused on the key risks below:
the best leaders and risk managers who provide depth mitigate risks, and reflects on lessons learned
and breadth to our risk management discipline. We when problems arise, but also recognizes that
remain committed to upholding high standards in risk risks can provide opportunities for innovation leading RISK OVERSIGHT COMMITTEE
management to achieve sustainable, long-term growth. to new competitive advantages. CHIEF RISK OFFICER
ALM &
Overview of Risk OVERALL GOVERNANCE Credit Risk
Management
Market Risk
Operational
Risk Management
Model Risk
Management
Enterprise Risk
Management
Trust & Subsidiaries
Management Framework Management
The Board of Directors (BOD) establishes the risk appetite Policy & Risk Control & Model Model
Liquidity Risk Credit Risk
Monitoring Monitoring Validation Development
The Risk Management Group (RMG) of SBC and its of the Bank and aligns the direction of the business units
subsidiaries (collectively Group) adopts and promotes to achieve strategic goals. The active participation of Business Interest IT, Information,
Market Risk
the basic tenet that risks are owned by the respective the BOD is reflected in the working committees it has Risk Review Rate Risk Security & Data
Business Management
business and process owners. Everyone in the organization established to extend its oversight into the Remedial Continuity & System
Market Risk Liquidity Risk
is, therefore, expected to proactively manage the risks Bank’s operations: Management Management
inherent in their respective areas. Aligned with its attitude Risk Reporting
Operational Risk
towards risk, SBC’s Risk Management Framework aims to Risk Oversight & MIS
embed a risk management culture that seeks to constantly
identify, measure, control, monitor and evaluate risks Risk management oversight from the BOD resides
within the Bank. This drives a risk management process with the Risk Oversight Committee (ROC), which reviews,
that is both a continuous and a dynamic course of action. approves and ensures the effective implementation of the Risk Management with the external risk landscape, business environment
Consequently, SBC’s risk management structure is largely Group’s risk management framework. Key responsibilities Scope and Structure and industry practice. In this respect, the Group’s risk
a system of checks and balances revolving around process of the ROC are to: data aggregation and risk reporting are conducted
and policy management, compliance, and ensuring The Group is faced with multiple risks inherent to the with accuracy, integrity, completeness, timeliness and
proactive and responsive management of risks. 1. Approve risk oversight strategies for managing and business it has chosen, largely in the form of market, adaptability. Actual risk management processes are
controlling the major risks, prevention of losses and liquidity, credit and operational risks. To protect the outlined by risk category.
Core Principles minimizing the impact of losses should they occur, customers and stakeholders, as well as the opportunities
including any negative impact to the reputation of for growth and value creation, the Group’s risk management RMG’s activities mainly assist the BOD (through the
The Risk Management Framework embodies a risk the Group including subsidiaries; is structured to continuously and effectively address ROC) in fulfilling its risk management responsibilities
management philosophy characterized by several 2. Approve the policies where applicable and these risks by category where risk is managed primarily through the following fundamental tasks:
core principles: implementing guidelines as may be recommended via structures of policies, processes and measurement
for risk oversight purposes; tools established and provided by the RMG for the Bank. 1. Development and review of risk
1. Awareness and commitment to a single mission, 3. Oversee the system of limits to discretionary authority The same structures are adapted by the subsidiaries appetite/limits and policies;
common objectives, shared core values and a that the BOD delegates to Management, ensuring that and tailor-fitted to suit their specific activities. 2. Assessment, measurement, monitoring and
Code of Conduct that are reviewed and renewed the limits are observed and that immediate corrective reporting of the Group’s risk-taking and risk
periodically; actions are taken whenever limits are breached; The Group’s risk management, internal control process management activities, including risk limit
2. A suite of policies and procedures supplemented 4. Regularly report to the BOD the Group’s overall and infrastructure are designed to keep pace with utilization and performance;
by supportive systems, which enable clearly risk exposure and the actions taken to reduce developments of the Group, including balance sheet 3. Providing subject matter expertise in business,
defined front, middle and back office roles; the risks and recommend further action or and revenue growth, increasing complexity of the product and project developments and other
plans as necessary; business, risk configuration or operating structure, strategic decision-making activities;
geographical expansion, mergers and acquisitions, or the 4. Elevation of issues and findings to Senior
introduction of new products or business lines, as well as Management and the ROC.

risk management risk management
Market Risk Management across the Bank, monitoring and reporting regularly to activities on capital is also monitored by the ALCO with mitigants as a secondary recourse to the borrower
Senior Management, the Assets & Liabilities Committee the RMG providing the necessary data to the Committee to mitigate credit risk. The Bank accepts collaterals
Market Risk (ALCO) and the ROC. for assessment. Results of their analysis are reported on such as cash, real estate, marketable securities, trade
a periodic basis to the ROC. Through the ALCO, RMG receivables and standby letters of credit. In addition,
Market risk is the risk that movements in market factors Integral to the effectiveness of the Bank’s market risk provides an independent assessment of the depth and the Bank limits vulnerabilities and manages risks to
will have an adverse impact on the Bank’s portfolio management infrastructure is the dynamic relationship magnitude of funding liquidity risk that the Bank takes an acceptable level through the following: (i) lending
values, income and/or capital. Market factors include between the independent risk management unit and suggests ways that can be explored to enhance limits that encompass industry, single name, group
foreign exchange rates, interest rates, equity prices and their and the business unit it supports and looks after. the Bank’s liquidity risk profile or keep exposure within and large exposures; (ii) proactive impairment
volatilities. The risk applies to both the Group’s trading and Risk Management goes beyond the traditional control risk appetite. RMG also provides its views on proposals process involving the Lending Units as well as the
banking book positions, largely in two forms: function and seeks to add greater value to the institution or strategies concerning balance sheet structure, Remedial Management Division; and (iii) timely ECL
by being an independent risk partner with its own voice funding mix or concentration and bond or note issuance. provisioning.
1. Price Risk, the risk that the Bank’s capital and gains and assessments of proposals and exposures. By being
will decline due to the impact of changes in the level in step with the developments in the business side, Credit Risk Management • RISK MONITORING AND REPORTING
or volatility of market factors to positions taken or Risk Management not only readily identifies potential Continuous monitoring and periodic reporting
held in the trading books. risk areas, but also helps the business manage risks Credit Risk of credit risk positions are integral parts of the
2. Interest Rate Risk in the Banking Book (IRRBB), the from the onset. Bank’s credit risk management activities. Regular
risk that the Bank’s capital and earnings will deteriorate Credit risk is the risk of loss resulting from the failure reporting to the Risk Oversight Committee (ROC)
due to effects of interest rate movements on the Liquidity Risk Management of a borrower or counterparty to perform or complete and Senior Management covers credit risk exposures,
Bank’s balance sheet, mainly on the accrual books. in a timely manner its obligations during the life of a concentration risks, credit mitigation and residual
Liquidity Risk transaction. This includes the risk of non-payment by risks across the Group.
Given the sensitivity to and the pace of change of market borrowers or issuers, failed settlement of transactions
factors, the Bank manages market risk through a variety of Liquidity risk is the risk that the Bank will not be able and default on contracts. Credit risk arises from both • BUSINESS RISK REVIEW
structures involving the following: to meet its obligations when they become due. It may the lending and investment activities of the Group. Another function within Credit Risk Management is
be classified into two sub-types: As one of the primary risks inherent to the banking Business Risk Review (BRR). The BRR provides an
1. Use of Value at Risk (VaR) methodologies, business, the Group manages credit risk through a independent evaluation of the quality of the Bank’s
Earnings at Risk (EaR) techniques, loss 1. Funding Liquidity Risk, the risk that a firm cannot systemized approach, which includes: credit portfolios, as well as the adequacy of the
triggers and stress testing; obtain the necessary funds to meet its obligations supporting policies, procedures and reporting systems
2. Adoption of limits aside from those related as they fall due. It stems from the mismatch of • POLICY DEVELOPMENT AND IMPLEMENTATION to manage the risks associated with credit exposure.
to VaR, EaR and P&L, such as exposure asset, liability, exchange contract and contingent The Credit Risk Management Unit maintains The BRR’s emphasis is on identifying weaknesses,
and position limits and performance of stress commitment maturities. and develops credit policies and procedures to trends, risks and so forth, and determining the
testing to augment the primary measures; 2. Trading Liquidity Risk, the risk that an entity guide Business and support units involved in the adequacy of present safeguards (such as collateral,
3. Periodic reporting of limit status, re-pricing will be unable to unwind a position in a particular credit process to make appropriate actions and covenants and alternative repayment sources).
gaps (for IRRBB) and P&L to the ROC, Senior instrument at or near its market value because decisions pertaining to credit transactions. Policy
Management and other concerned parties; and of lack of depth or disruption in the market for formulation also supports the Bank’s “One Credit Operational Risk Management
4. Development and review of risk models that that instrument. Engine” concept, which provides for a uniform
are used for monitoring market risk, as well understanding and consistent application of credit Operational Risk
as validating the models developed internally With liquidity being the lifeline of banks, the risk is mainly policies and procedures across the entire institution.
or by third party vendors. monitored through tools, such as liquidity gap reports Aligned with the Basel III Framework, operational risk
including the Maximum Cumulative Outflow (MCO) status, • RISK ASSESSMENT AND MEASUREMENT is defined as the risk of loss due to inadequate or failed
Market Risk Management Team liquidity ratios and assessment of deposit concentration. Credit risk officers identify and evaluate existing and internal processes, people and systems, or from external
This is further augmented by periodic liquidity stress potential exposures, assess the probability of each events. Operational risk addresses processing errors,
Risk appetite is defined in terms of limits assigned by testing. Regular reports are then provided to Senior risk materializing and estimate possible effect and fraudulent activities, inappropriate behavior of staff,
the ROC to cover all market risk-taking activities of the Management, the ALCO and the ROC regarding these cost of risk factors. The Team uses different credit systems failure, inability to deliver products and
Bank and its subsidiaries. The Market Risk Management tools. Moreover, the Bank has established Contingency risk measurement and valuation methods such as services to customers and natural disasters.
Team establishes these limits annually based on the targets Funding Plans to deal with potential liquidity Probability of Default (PD), Expected Credit Loss
set in the planning process. The Bank likewise manages crisis situations. (ECL), Credit Classification, credit concentrations, Operational risk management has the following major
concentration and market liquidity risks by setting exposure/ residual risks on collateral and credit stress testing. roles and functions:
position limits to specific investment types and products as Liquidity Risk Management Team
needed. • RISK CONTROL AND MITIGATION • POLICY AND PROCESS
RMG assists the ALCO by providing the relevant Credit facilities are granted primarily based on the The Operational Risk Management Division develops
The CRO, Market Risk Officer, Market Risk/Liquidity information with respect to the management of all risks borrower’s credit quality and repayment capacity. and implements the measures used by the Bank to
Risk Analysts and Model Development Officers ensure related to the Group’s assets and liabilities and the Where possible, Security Bank takes credit risk manage operational risks. It closely monitors and
the continuous enhancement of market risk management trading and accrual books. The impact of the Group’s

coordinates with the different business units to track Model Risk Management • The Board of Directors (BOD) sets the tone from the • Internal Audit is responsible for the periodic and
and resolve any existing and potential operational top and seeks to effectively inculcate an appropriate independent evaluation of the risk management,
issues, and improve existing procedures and policies Model risk is the potential loss that an institution may risk culture throughout the Bank. Notwithstanding the degree of adherence to internal control mechanisms
to better minimize losses from operational issues. incur primarily due to fundamental errors in the design, duties and responsibilities of the Compliance Office and related to the customer identification process, such as
implementation or use of a model. A model refers to Internal Audit, the BOD has the ultimate responsibility of the determination of the existence of customers, and
• INFORMATION SECURITY a quantitative method, system or approach that applies fully complying with the provisions of the Bank’s Money the completeness of the minimum information and/
Information security management deals with all statistical, economic, financial or mathematical theories, Laundering and Terrorist Financing Prevention Program or documents establishing the true and full identity
aspects of information assets, whether spoken, techniques and assumptions to process input data (MLPP), which incorporates legal and regulatory updates of, and the extent and standard of due diligence
written, printed or electronic, or relegated to any other into quantitative estimates for decision making. and global best practices in Anti-Money Laundering applied to, customers, Covered Transaction (CT)
medium regardless of whether it is being created, This also includes expert judgement models with (AML) and Combating the Financing of Terrorism (CFT) and Suspicious Transaction (ST) reporting, record
viewed, transported, stored or destroyed. The focus complex manipulation. policies and procedures. keeping and retention, determination of the efficiency
is to protect those information assets and ensure of the system’s functionalities, as well as the adequacy
Confidentiality, Integrity and Availability. Model risk management covers the following aspects: • The Corporate Governance Committee is responsible and effectiveness of other existing internal controls
for the oversight of the compliance function. associated with money laundering and
• IT RISK MANAGEMENT • POLICY DEVELOPMENT AND IMPLEMENTATION terrorist financing.
Under the direction of the BOD and the ROC, IT The Model Risk Management team designs and • The Anti-Money Laundering Committee, which
Risk Management is designed to govern the overall promotes implementation of model risk management is chaired by the Chief Compliance Officer (CCO), SBC identifies, understands and assesses its ML/TF
technology risks of the Bank and its subsidiaries policies to guide model developers, model owners and oversees SBC’s compliance with all AML/CFT laws risks arising from customers, countries or geographic
aligning with corporate plans, strategies and model users in defining the model purpose, model and regulations as well as the formulation of policies areas of operations and products, services, transactions
objectives of the Group. Closely working with ITG requirements and model risk mitigation. As the Bank to adapt to changes and developments pertaining or delivery channels. ML/TF risk assessment forms
and all other relevant functions of the Group, IT Risk is required to have an inventory of models, the team is to money laundering under the Bank’s MLPP. It is part of due diligence process before launching new
Management monitors the key risk levels, assists in also responsible in maintaining an up-to-date catalogue the ultimate approver of the Suspicious Transaction products and services. Likewise, the compliance testing
process and control improvements and reports to the of all implemented, developed and recently discontinued Report (STR) prior to submission to the Anti-Money and training plan takes into consideration the identified
Board/ROC as appropriate. models. This model inventory supposes the detection Laundering Council (AMLC). ML/TF risks under a risk-based approach and puts in
of the perimeter of the models potentially impacted by place appropriate refinements in AML/CFT policies
• BUSINESS CONTINUITY the risk, through the identification of its type and its • Senior Management oversees and ensures effective and procedures.
The Business Continuity Unit focuses on maintaining purpose. implementation of AML/CFT policies approved by
and developing the Bank’s capabilities to recover the BOD and alignment of activities with the strategic • Compliance risk refers to the penalties and the
from system failures, natural disasters and other • INDEPENDENT MONITORING AND MODEL objectives, risk profile and corporate values set by the possible loss of the Group’s banking licenses due to
emergencies, and ensure that the Bank’s operations VALIDATION BOD, and establishes a management structure that breaches in the requirements mandated by regulators.
and core business functions are up and running The key part of the Model Risk Management promotes accountability and transparency and upholds The Chief Compliance Officer is a member of key
through disruptive events. framework is establishing a strong and independent checks and balances. committees such as AML, Outsourcing and Integrity
monitoring and validation function. This team performs Committees. Compliance risk is managed via:
Operational Risk Management Tools the quantitative and qualitative review of existing and • Business Units/Front-liners act as a first line of —— Dissemination of and advisory on key points
new models across the areas of data, methodology, defense in charge of identifying, assessing and of new and existing regulations to the
In calculating the capital adequacy for operational risk documentation, processes and governance. controlling the risks of their products and services Corporate Governance Committee and Senior
exposures, SBC adopts the Basic Indicator Approach. through continuous updating of knowledge and Management;
Also, various tools, programs and methods are being Management of Other Risks consistently executing AML policies and procedures —— Proper cascading of regulatory requirements and
used by SBC in the operational risk management process properly. The Compliance Office, which has a direct regulations; and
including, but not limited to, the following: The Risk and While the risks that SBC faces are chiefly categorized reporting line to the Corporate Governance Committee —— Timely, proper and efficient reporting to
Control Self-Assessment Program is used to identify, either as credit, market, liquidity or operational types, on all matters related to AML/CFT compliance and regulators.
assess and monitor current and emerging risks, as well SBC recognizes with as much importance the other risks their risk management, is primarily tasked to manage
as evaluate the sufficiency and effectiveness of the that can hinder its pursuit of value creation. In particular, the implementation of the Bank’s MLPP. In this regard, • Reputational risk refers to the potential adverse
declared controls. Issues and incidents are elevated SBC acknowledges the threats posed by compliance, it conducts periodic AML and CFT compliance checking effects arising from the Bank’s reputation deviating
through the Issue Escalation and Incident Reporting reputational and strategic (or business) risks. through risk-based sample testing and review of audit negatively from its expected level with regard to
Process. Information is collected and analyzed through or examination reports, conduct of MLPP training and competence, integrity and reliability. The Bank
a series of Key Risk Indicators and assessed through oney Laundering (ML)/Terrorism or Terrorist Financing (TF)
M dissemination of BSP and AMLC guidelines aimed at manages this risk within the institution through
a Risk Mapping Process to further minimize the risk refers to the possibility that SBC will be used by criminals preventing ML/TF. It also ensures that infractions policies and processes implemented under
incidence of operational risks. as a channel for ML and/or TF. The Anti-Money Laundering discovered internally or in the BSP examination are Operational Risk (including Information Security),
and Combating the Financing of Terrorism governance immediately corrected, and reports compliance issues Compliance and Human Resources, such as those
The performance of the Bank’s efforts to manage framework is as follows: to Senior Management, the Corporate Governance related to complaints resolution and management;
operational risk is presented on a periodic basis to Committee and the BOD. fraud detection, prevention and overall management;
Senior Management, as well as to the ROC.

and service quality assurance. As part of the Bank’s the Bank assesses its current and planned business and Resource Alignment and Coordination
corporate-wide risk management, the Board ensures risk-taking activities and their comparison to the BOD’s 2019 HIGHLIGHTS
the maintenance of a sound consumer protection risk risk appetite taken in the context of macroeconomic and
management system. industry developments. This assessment is summarized In 2019, the Risk Management Group implemented
in the Bank’s Internal Capital Adequacy Assessment People several initiatives to strengthen our approach to manage
• Strategic or business risk is the current and Process (ICAAP) document and is submitted to the BSP. the risks faced by the Group. The initiatives largely revolved
prospective impact on earnings or capital arising The document highlights the Bank’s medium-term plans, around enhancing risk management capabilities, driven by
from adverse business decisions, ineffective or failed the minimum capital it expects to maintain, capital triggers regulatory standards, industry best practices and Senior
implementation of decisions, or lack of responsiveness and contingency plans. Management thrusts.
to industry changes that may affect the franchise
value of the Bank. This risk is not managed separately The Finance Committee is primarily responsible for driving Systems Process The highlights for the year are the following:
from other risks. In essence, the Bank manages this the Group’s ICAAP, working alongside the other members
risk through careful planning and close monitoring of Senior Management in implementing the strategic goals 1. Enhancement of risk policies driven by evolving
of execution of plans. These are: as approved by the BOD. In essence, this Committee business needs and regulatory requirements;
—— The Group undergoes an annual Planning Cycle, assesses the Group’s capital adequacy relative to its risk 2. Increased awareness activities across all risk areas
where the business environment, medium-term profile, understanding capital requirements as scenarios via e-learning initiatives and RMG-conducted
plans of business units and potential risks to the vary or become stressed. sessions in credit risk management;
Bank are assessed. A Strategic Plan is produced Risk Management 3. Integration of operational risk-related e-learnings
at the end of this activity. Through this plan, Risk exposures and corresponding capital requirements to enhance its effectivity with clearer focus;
the BOD provides direction for the Group and vis-à-vis current levels are periodically reviewed, ensuring 4. Knowledge sharing or exchange initiatives between
identifies probable new risks that may emerge risk and capital are aligned with the Bank’s appetite and SBC and strategic partner MUFG across all risk areas;
Ongoing 5. E xpansion in scope of credit audits from portfolio-
over the planning cycle. activities, as well as with regulatory standards.
Evaluation
—— Periodic review of the strategies and performance approach to a combination of portfolio and
of key functional areas of indicators are undertaken RISK APPETITES AND LIMITS business risk reviews;
by Senior Management and the BOD. The Bank 6. Enhancement of credit stress testing via use of
understands that the risk universe is not limited The overall risk appetite of the Group is defined through Monitor Identify more sophisticated methodologies;
the Risk the Risk 7. Implementation of Early Warning Index for
to the ones enumerated above. As such, other established policies and procedures, product programs,
types of risk—new or evolving—are uncovered limits setting to manage risk exposures and through Retail Credit Products;
and addressed through the different initiatives defined accountabilities and responsibilities across the 8. Enhancement of risk infrastructure to better manage
in the main risk management groups, which organization. The Group adheres to both regulatory and interest rate risk in the banking book and comply
motivate risk-taking and risk management units internal limits approved by the ROC and the Board. with the new Interest Rate Risk in the Banking Book
to assess and to attend to emerging threats to These limits are monitored regularly and presented to (IRRBB) regulation;
Control Measure
capital adequacy and profitability. Senior Management and appropriate committees. 9. E xplored alternative systems that will equip the
the Risk the Risk
Any breaches are elevated for approval as appropriate. business with more dynamic, granular and
Capital Management timely information;
RISK CULTURE / RISK COMMUNICATION 10. Improvement of Operational Risk KRI or Key Risk
The primary objectives of the Group’s capital management Indicators, leveraging those of MUFG;
are to ensure that the Group maintains strong credit The Group acknowledges the importance of an 11. Ongoing improvements of Disaster Recovery
ratings and healthy capital ratios in support of its business, effective risk culture where everyone in the organization Capital Management and Allocation functionalities; and
and to remain compliant with externally imposed capital identifies risks, understands the Group’s approach to 12. Multiple self-assessments of cybersecurity maturity.
requirements, all while maximizing shareholder value. risks, takes personal responsibility to manage risks in
Currently, the Bank remains well in compliance with the the daily business operations and encourages others
capital requirements of the Basel III Framework. This to follow their example. In addition to the various regular
is largely driven by the Bank’s careful approach to risk risk reporting and ad-hoc notifications from RMG to
and capital management. Minimum capital levels and Senior Management and to the business areas,
adequacy ratios as required by regulatory standards are various risk communication tools including e-learnings Risk Capital
used by the Bank merely as a starting point. Annually, and trainings are utilized to embed the appropriate risk
culture across the Group.

COMPLIANCE
GRI 103-1, GRI 103-2, GRI 103-3
STATEMENT OF COMPLIANCE POLICY REGULATORY COMPLIANCE controls with timely and focused feedback on The Bank constantly reviews and updates the MTPP
status of business and operating units’ fulfillment of to ensure compliance with the latest legislative and
Security Bank is committed to comply with all banking The Compliance Office oversees the implementation regulatory responsibilities. regulatory developments. This also includes reflecting
and consumer laws and regulations. The Bank and all of the Group’s compliance programs, ensuring employee refinements in the clients’ acceptance and identification
employees consistently and fully comply with the specific awareness and compliance with all applicable laws, The Compliance Office maintains a clear and open policy, as well as ongoing monitoring of clients, accounts
details and the spirit of all banking and consumer laws rules and regulations. The programs consider the size, communication process within the SBC Group to and transactions. In addition, the MTPP incorporates
and other regulations. The Bank constantly enhances risk appetite and complexities of operations of the provide personnel with a clear understanding of the compliance testing framework as supported by
the formal and structured compliance program embedded Group, the relevant rules and regulations that affect banking and other pertinent laws, rules and regulations, testing program guides used in compliance testing and
in a dynamic and responsive compliance risk management their operations and the business risks that may arise as well as the risks and effects of non-compliance. the procedural guidelines for reportorial requirements,
system that assists Management and the Board in due to non-compliance. Risk-based regulatory and Through continuous dialogue and liaison with regulators together with other major AML compliance functions
identifying and mitigating risks that may erode the self-assessment compliance matrices, which are aligned and various industry associations, the Compliance Office and processes.
franchise value of the Bank. Compliance risk management with the business exposures and priorities, are formulated ensures the prompt dissemination of new regulations
is an integral part of our Bank’s culture and risk and updated to mitigate identified business risks and and other developments affecting bank operations. The Bank continually strengthens its ongoing initiatives
governance framework. It is a responsibility and shared tested based on set verification procedures to ensure to instill AML/CFT awareness and discipline. This is done
accountability of all personnel, officers and the Board of compliance and immediately address and resolve issues The Bank’s Board-approved Compliance Program is through enhanced AML/CFT classroom and online trainings,
Directors. These risks are legal or regulatory sanctions, and exceptions as they arise. periodically updated to strengthen the implementation adoption and conduct of risk-based compliance testing
material financial loss or loss to reputation the Bank may of a more robust, dynamically responsive compliance and monitoring of accounts and upgrading and review of
suffer as a consequence of its failure to comply with laws The Compliance Office has forged strong formal alliances system, taking into consideration all banking and alert parameters of the electronic anti-money laundering
and rules, related self-regulatory organization standards with the Internal Audit Division, Risk Management Group, consumer laws and regulations and the BSP Compliance monitoring and reporting system. Institutionalizing
and codes of conduct applicable to our banking activities. Legal Department, Quality Assurance Officers (QAOs) and Rating System. The Board-approved policy that defines shared responsibilities, review and documentation of
Compliance risks also include risks arising from failure to the designated Auxiliary Compliance Officers (ACOs) the Group compliance framework applies to entities systems and processes to identify and manage all risks
manage conflict of interest, to treat customers fairly or to who are embedded and responsible for the major across the group. The policy provides the structure that and ensuring timeliness and accuracy in filing Covered
effectively manage risks arising from money laundering operational and support units of the Bank. The QAOs and is adopted by the Group, establishing the compliance Transaction and Suspicious Transaction Reports are
and terrorist financing activities. ACOs are directed to primarily enforce compliance with function centrally at the Parent Bank. The policy includes likewise undertaken. In 2019, a new unit for Management
rules and regulations pertinent to their respective units the overall responsibility of the Parent Bank’s compliance Information Systems and Automation was established
COMPLIANCE SYSTEM and immediately report issues or exceptions noted to the function with respect to the management of compliance within Compliance to strengthen coverage on regulatory
Compliance Office. In 2019, an outsourcing arrangement risk exposures of subsidiaries/affiliates. reports as well as enhance innovation within the Group.
The Bank’s compliance system promotes a culture of was also set in place between the Compliance Office and
Group-wide adherence to compliance standards and Internal Audit for periodic testing activities to maximize ANTI-MONEY LAUNDERING These technical and human enhancements will further
allows identification and mitigation of compliance risks resources and avoid duplication of processes. GRI 205-1, GRI 205-2 improve and strengthen the AML/CFT risk management
that may erode the Bank’s franchise value. The compliance system, support good corporate governance practices
system reinforces the stature of the Chief Compliance The Compliance Office takes a proactive role in It is the policy of the Bank to conduct business in and sustain the overall money laundering and terrorist
Officer (CCO) as independent from the Bank’s business partnering with the business and operations units to conformity with the highest ethical standards in order financing prevention risk management and control
activities. The CCO reports functionally to the Corporate ensure a high degree of compliance across the Group. to protect the reputation and integrity of the banking framework of the SBC Group.
Governance Committee and administratively to the The Compliance Office aligns its compliance activities system, to protect the Bank from becoming a vehicle or
President. The compliance system is supported by with business priorities in the light of more stringent conduit for or a victim of financial crime and to protect the FOREIGN ACCOUNT TAX COMPLIANCE ACT
effective and efficient Board of Directors and Senior regulations, technological innovations and emerging diverse interests of the Bank’s stockholders and other
Management oversight, sound policies and procedures threats. The Compliance Office, acting as business stakeholders. Likewise, the Bank is committed to the The Foreign Account Tax Compliance Act (FATCA) is
embodied in a Compliance Policy and Program Manual enabler, continually works on maintaining the Bank’s highest standards of moral and ethical behavior and a U.S. extraterritorial law, which became effective
approved by the Board of Directors and effectively adherence to the highest ethical standards. is opposed to any unethical behavior such as fraud, July 1, 2014. FATCA targets tax non-compliance by
implemented by Senior Management of which the CCO bribery and corruption. U.S. taxpayers with foreign accounts. FATCA focuses
is the lead operating officer on compliance. This includes The Compliance Office promotes compliance awareness on reporting:
robust internal controls and audit. among officers and staff through dissemination of a Anchored on the BSP’s prescribed Money Laundering
synopsis of regulatory issuances, table discussions, and Terrorist Financing Prevention Program (MTPP), • By U.S. taxpayers about certain foreign financial
classroom training and e-Learning to arrest business or the Bank’s MTPP incorporates legal and regulatory accounts and offshore assets; and
compliance risks. It conducts periodic compliance testing updates and global best practices in Anti-Money • By Financial Institutions about financial accounts
and regular monitoring and implementation of compliance Laundering (AML) and Combating the Financing of held by U.S. taxpayers or foreign entities in which
Terrorism (CFT) policies and procedures. U.S. taxpayers hold a substantial ownership interest.

compliance compliance
The objective of FATCA is the reporting of foreign relating to his account for FATCA reportorial requirement MATERIAL RPT FOR CONFIRMATION OF MAJORITY
financial assets; withholding is the cost of not reporting. and in consonance with the Data Privacy Act (DPA).
Loans
Relationship and Other Type of
Preparatory to eventual compliance with the Model 1A The Bank awaits the Senate ratification of the Agreement Total Non-Credit
Counterparty between the Total Credit Lines Case-to- Non-Credit TOTAL
Intergovernmental Agreement (IGA) signed between between the Government of the United States of America Transactions
Parties Case Credit Transactions
the Internal Revenue Service of the United States and the Government of the Republic of the Philippines Transactions
and the Philippines’ Bureau of Internal Revenue, to improve International Tax Compliance and to Purchase of
SBM Leasing Inc. Subsidiary PHP8,573,920,000.00 PHP256,008,192.56 PHP8,829,928,192.56
Security Bank registered as the lead of the Expanded implement FATCA. Receivables
Affiliated Group with Global Intermediary Identification SB Rental Corp. Subsidiary PHP9,389,420,000.00 PHP9,389,420,000.00
Number (GIIN) as follows: POLICY ON RELATED PARTY TRANSACTIONS SB Finance Company Inc. Subsidiary PHP10,271,960,000.00 PHP10,271,960,000.00
SB Capital
Subsidiary PHP7,877,000,000.00 PHP7,877,000,000.00
• Security Bank - VF107Z.00000.LE.608 The Bank recognizes that Related Party Transactions Investment Corp.
• SB Capital - VF107Z.00001.ME.608 (RPT) may give rise to conflict of interest. Thus, the SB Equities, Inc. Subsidiary PHP15,500,000,000.00 PHP15,500,000,000.00
• SB Equities - VF107Z.00003.ME.608 Board has established an overarching RPT Committee Triconstruction
Related Interest PHP187,500,000.00 PHP187,500,000.00
Ventures Corp.
tasked with reviewing all Related Party Transactions
As such, Security Bank is a Registered Deemed Compliant material of the SBC Group. The Committee ensures that Colourland Inc. Related Interest PHP73,000,000.00 PHP73,000,000.00
Foreign Financial Institution. The Model 1A IGA needs transactions with related parties and Directors, Officers, Maverick Transpo &
Related Interest PHP80,000,000.00 PHP80,000,000.00
Distribution
the partner government to require all financial institutions Stockholders and their Related Interests (DOSRI) are
BOT Lease and Finance
located in its jurisdiction to identify U.S. accounts and handled in a sound and prudent manner, with integrity Philippines (BOTLFP)
Affiliate PHP350,000,000.00 PHP350,000,000.00
report information about U.S. accounts. A Model 1A IGA and in compliance with applicable laws and regulations to
Government Service
provides for reciprocal information exchange between the protect the interest of depositors, creditors and Stockholder PHP80,000,000.00 PHP80,000,000.00
Insurance System (GSIS)
United States and the partner jurisdiction. Model 1A IGA other stakeholders. Macro Tires, Inc. Related Interest PHP110,500,000.00 PHP110,500,000.00
can be implemented without having in effect a double tax Yeeloofa Development Other Related
PHP310,000,000.00 PHP310,000,000.00
convention or tax information exchange agreement with In carrying out its function, the Committee evaluates, Corporation Party
the United States. IGAs with partner jurisdictions facilitate on an ongoing basis, existing relations between and MUFG Bank, Ltd. Stockholder PHP5,700,000,000.00 PHP5,700,000,000.00
the effective and efficient implementation of FATCA: among businesses and counterparties to ensure that USD120,000,000.00 USD120,000,000.00
all related parties are continuously identified, RPs are Autophil Zone Sales Corp. Related Interest PHP330,000,000.00 PHP330,000,000.00
• They remove domestic legal impediments to monitored and subsequent changes in relationship are USD5,250,000.00 USD5,250,000.00
compliance. captured. On a monthly basis, management, through MUFG Securities EMEA
Affiliate USD81,000,000.00 USD81,000,000.00
• They reduce burdens on FFIs located in partner the Committee Secretariat, submits RPT proposals that plc (MUS EMEA)
jurisdictions. breach the defined threshold amount of the Bank. Other Related
Morgan Stanley USD161,000,000.00 USD161,000,000.00
The Committee evaluates the proposals to ensure that Party
In line with our continuous effort to comply with these are not undertaken with favorable economic Philippine Tank
Interest Rate
Storage International Related Interest USD120,000,000.00 USD120,000,000.00
the FATCA, the Chief Compliance Officer (CCO), as terms, taking into consideration at minimum the charge (Holdings), Inc.
Swap
the Bank’s Responsible Officer for FATCA, takes the price/interest, commission to be earned, fees, tenor and
TOTAL PHP PHP58,833,300,000.00 PHP256,008,192.56 PHP59,089,308,192.56
lead in educating concerned Bank personnel through collateral. The proposals, after thorough evaluation, will
the conduct of classroom seminars and issuance of be endorsed to the Board for final approval before the
FATCA compliance bulletins and FAQs. Likewise, the transactions can be entered into by the units submitting
Bank incorporated the FATCA mandatory information the proposals.
in the Customer Information Form (CIF), put in place an CONSUMER PROTECTION AND DATA PRIVACY The Framework adheres to the five consumer protection
automated monthly U.S. Citizen Depositors Report based The following table shows the Bank’s significant related standards that must be observed at all times:
on the pertinent provisions of FATCA and incorporated party transactions for 2019. Full disclosures of these The Board of Directors of Security Bank has adopted
submission W8-BEN/W8-BENE (individuals/entities transactions were made through reports with the a Financial Consumer Protection Framework (the 1. Disclosure and Transparency—Security Bank
with U.S. Indicia) and W9 (identified U.S. natural or appropriate regulatory agency. Also, significant related Framework) in accordance with the BSP policy to ensures that financial consumers are provided
juridical persons) in the pre on-boarding requirements party transactions are confirmed by a majority of provide for an enabling environment that protects the all material details of an instrument or service
of clients, including the Certificate of Authorization the Bank’s stockholders during the annual meeting interest of financial consumers and institutionalizes before a transaction is consummated.
consenting to disclose and/or process all information of stockholders. the responsibilities of all stakeholders.

compliance compliance
2. Fair Treatment—Security Bank not only fully 5. Effective Recourse—Security Bank maintains an is accessible to all employees. The Bank complies with financial, regulatory or reputational risks. It encourages
discloses product details but also determines objective process and venue to handle customer disclosure and black-out rules covering dealings of the and allows employees and all other stakeholders to report
whether the product or service it is offering is complaints, which is in line with SBC’s brand directors and Senior Officers in the Bank’s shares as to Speak_Up@securitybank.com.ph in good faith without
suitable to the risk and financial profile of promise of BetterBanking. Each complaint is seen listed in the Philippine Stock Exchange. fear of discrimination, harassment and/or retaliation
the financial consumer. This goes beyond as an opportunity to review processes, identify the because Management ensures anonymity and non-
the current practice of “suitability tests” root cause and work on its process improvement, TRADING ON SECB SHARES POLICY disclosure of information about the whistleblower other
because this standard covers, among others, thereby preventing its recurrence and providing than to the investigating body.
the selling practices of the employees of the a long-term resolution of issues. As a publicly listed company, the Bank strictly prohibits
Bank and a specific consideration for possible insider trading under Section 27 of the Securities Disclosures are directed to the immediate superior or any
over-indebtedness of the financial consumer. The Board of Directors is ultimately responsible Regulation Code (SRC). Consistent with the principles of supervising officer within the group or may be elevated
for ensuring that consumer protection practices are fair dealing and transparency in the securities market, to the Human Resources Development Division (HRDD),
3. Protection of client information—In accordance embedded in Security Bank’s business operations, all Directors or Officers with the rank of Senior Vice Internal Audit or Quality Assurance Officers for branches,
with the Data Privacy Act of 2012 (Republic adhering to the highest service standards and President and up, when dealing in the Bank’s shares, Risk Management Group or the President. A thorough
Act No. 10173), Security Bank recognizes the embracing a culture of fair and responsible are required to notify the Board through the Office of investigation shall be conducted to establish validity of
importance of protecting the personal data dealings in the conduct of its business. the Corporate Secretary (OCS) of the intention to deal any report in consonance with due process as prescribed
of its customers. Hence, information on a in SECB shares at least one day prior to trading and to by the Bank’s Code of Conduct.
customer is not shared without his/her consent. ANTI-BRIBERY AND CORRUPTION submit the necessary SEC Form 23A (Initial Statement of
Neither does Security Bank share customer’s Beneficial Ownership of the Securities) and/or SEC Form INTERNAL AUDIT
information with its subsidiaries and affiliates Consistent with the Bank’s Code of Conduct, conflict of 23B (Statement of Changes in Beneficial Ownership of
for purposes of marketing and referrals without interest and the principle of arm’s length terms, the Anti- Securities) to the SEC and the PSE within three business The Bank’s Internal Audit Division provides reasonable
the customer’s consent. Bribery and Corruption Policy was instituted as approved days from initial acquisition or changes (subsequent assurance to the Board, Senior Management and
by the Board of Directors in 2016 to emphasize and acquisition or disposal). The Director or Officer shall stockholders that the Bank’s key organizational
In 2019, Security Bank continued to comply with strengthen the ethical culture and integrity of the also coordinate with the OCS to ensure the timely filing of and procedural controls are effective, appropriate
the regulatory requirements with the engagement SBC Group’s directors, officers and employees. The Policy said reports. The Bank strictly prohibits the short selling and complied with.
of a third party service provider to assist the Bank defined the proper guidelines and controls on how to of SECB shares by any of its Directors or Officers in
in the assessment of the risk and impact of the prevent bribery and corruption within the organization accordance with the applicable provisions of the SRC and Internal Audit covers at the minimum the evaluation of
data privacy requirements on its processes and including its subsidiaries and affiliates. its Amended Implementing Rules and Regulations. the adequacy and effectiveness of controls that cover
in establishing measures to address any deficiency governance, operations and information systems,
or gap. An IT project was started to address OTHER CORPORATE GOVERNANCE POLICIES CONFLICT OF INTEREST POLICY reliability and integrity of financial and operational
technical deficiencies and lay down foundational information; effectiveness and efficiency of operations;
technology enablers to support encryption of PERSONAL INVESTMENT POLICY Directors, officers and employees are prohibited protection of assets; and compliance with contracts,
data-at-rest and data-in-transit. Aside from the from engaging in transactions for the Bank, which are laws, rules and regulations.
E-Learning module on data privacy, classroom The Bank has a Personal Investment Policy that governs self-serving, usurp authority and are with conflict
training was also conducted for certain business personal transactions of all Security Bank Group personnel of interest. No one should acquire personal gain in the The Internal Audit Division directly reports to the Board
units as well as third party providers. to ensure that these are done above-board. Certain Security exercise of one's authority or employment in the Bank. through the Audit Committees of the Security Bank
Bank personnel, by virtue of their responsibilities, Group. The risk-based Annual Audit Plan, including
To comply with the requirements of BSP Circular are treated as Restricted Persons, which consequently CODE OF CONDUCT subsequent changes thereto, as well as the evaluation,
982 on Enhanced Guidelines on Information requires that their personal transactions be subject to appointment and termination of External Auditor among
Security Management, the Bank is also firming up prior approval by the Chief Financial Officer (CFO) The Bank’s Code of Conduct outlines the rules on others, are presented for approval of the Audit Committee.
its controls to counter cyber threats that can create and the President/CEO, Chief Compliance Officer, Conduct and Decorum, Established Operations and Other matters such as the results of audits and issues
major operational disruptions. These and other Executive Director and/or RPT Committee depending Procedures, Honesty, Integrity and Ethics. It serves as resolution tracking, updates on accomplishments, and
activities to strengthen the privacy and information on the type of investment vehicle and monetary value. a reference for our employees in maintaining their sense other audit activities are also regularly reported.
security framework are being implemented. All Treasury Officers/Staff and members of their of responsibility and commitment to honesty, industry
immediate families are prohibited from engaging in any and integrity, and establishes measures and standards COMMUNICATION AND INFORMATION
4. Financial Education and Awareness—Security derivative transaction of the Bank. The actions of the to institute discipline.
Bank believes in taking an active role in promoting corporation, Board of Directors and employees are The Bank publicly discloses in a timely manner all material
financial education and awareness and ensuring conducted according to the highest ethical and The Bank supports a Whistle Blower Program, which shall information, which could potentially affect its viability or
that this is one of the components of the Bank’s professional standards as embodied in the Code of serve as a mechanism to prevent and detect incidents the interests of the stockholders. All material information
good governance. Ethics. The Code is posted in the Bank’s intranet and of fraud or misconduct and enable fast and coordinated is disclosed through the appropriate exchange mechanisms
incident responses to protect the Bank from potential and posted in the Bank’s website.

SECURITY BANK CORPORATION AND SUBSIDIARIES SECURITY BANK CORPORATION AND SUBSIDIARIES
Audit Committee Report Statement of Management Responsibility

For the year ended December 31, 2019
for Consolidated Financial Statements
Internal Audit
The Audit Committee is composed of three non-executive directors, two of
whom are independent directors, including the chairman. The Committee 1. Continuing improvements and enhancements to audit policies
is governed by a board-approved charter that defines its overall purpose, and methodologies were discussed and approved ensuring
authority, organization, meeting requirements and responsibilities. In appropriateness and conformance with regulatory requirements and
accordance with this charter, the Committee assists international standards.
the Board of Directors in its oversight responsibilities on the following, thereby 2. The Internal Audit’s strategic three-year plan and annual audit plan
enhancing shareholders’ and other stakeholders’ value and protecting their were discussed and approved. These were developed using a
The management of Security Bank Corporation and Subsidiaries (the Group) is responsible for the preparation and fair presentation of the consolidated
interest: risk-based approach to assess the adequacy of the Bank’s internal
control, risk management and governance processes. The Audit financial statements, including the schedules attached therein, for the years ended December 31, 2019 and 2018, in accordance with prescribed financial
a) Integrity of the Bank’s financial statements and financial reporting Committee monitored the performance relative to the approved reporting framework indicated therein, and for such internal control as management determines is necessary to enable the preparation of financial
process; audit plans. Subsequent updates to the Audit Plan, as a result statements that are free from material misstatement, whether due to fraud or error.
b) System of internal controls, risk management and governance of continuous risk assessment, were likewise approved.
process; 3. Co-sourcing of selected audit engagements to KPMG and PWC In preparing the financial statements, management is responsible for assessing the Group's ability to continue as a going concern, disclosing, as applicable,
c) Performance of the internal audit function and independent auditors; was discussed and approved. matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease
d) Compliance with applicable laws, rules and regulations, and its code 4. The annual performance assessment of the Chief Audit Executive operations, or has no realistic alternative but to do so.
of conduct and business ethics; and, (CAE) was discussed and approved.
e) Fulfillment of other responsibilities set out in the Audit Committee 5. Remuneration of the CAE and key internal auditors was discussed
The Board of Directors is responsible for overseeing the Group's financial reporting process.
Charter. and endorsed to the Board for approval.
6. The organizational independence of the Internal Audit function is
The Bank has an Internal Audit Division that reports directly to maintained as confirmed by the CAE. Regular self-certification is The Board of Directors reviews and approves the financial statements including the schedules attached therein, and submits the same to the stockholders
the Audit Committee, and assists in the discharge of its oversight in place to confirm the independence of Internal Audit personnel or members.
responsibilities. The Internal Audit, governed by a charter approved as well as compliance with the Code of Ethics.
by the Audit Committee, is responsible for providing an independent, 7. The Internal Audit conducts its functions in accordance with the SyCip Gorres Velayo & Co., the independent auditor appointed by the stockholders, has audited the financial statements of the company in accordance with
reasonable assurance on the Bank’s system of risk management, standards set forth by the Bank’s internal policies, the Audit Manual, Philippine Standards on Auditing, and in its report to the stockholders or members, has expressed its opinion on the fairness of presentation upon completion of
internal controls and governance processes, as well as the operating regulatory requirements as well as IIA standards as confirmed such audit.
and business units’ adherence to internal processes and procedures by the CAE.
and to regulatory and legal requirements. 8. The CAE provided an evaluation on the adequacy and
effectiveness of risk management, controls and governance
In performing its oversight responsibilities and in compliance with the Audit processes of the Bank, Trust and its subsidiaries based on the
Committee Charter and applicable corporate governance laws and rules, the results of various audit engagements of Internal and External
Audit Committee confirmed in its report for 2019 the following: Audit. ALBERTO S. VILLAROSA
Chairman of the Board
A. Bank’s financial statements and financial reporting process D. ompliance with the standards set forth by the Bank’s internal
C
policies, code of conduct and business ethics and applicable
The results of internal and external audits of the Bank’s internal laws, rules and regulations
controls relative to the financial reporting process were discussed.
SANJIV VOHRA
The results of review of the Bank’s Interim Financial Statements as The Audit Committee, through the Internal Audit function, assesses
President & Chief Executive Officer
of March 31, 2019 and the audited financial statements and its related compliance with the standards set forth by the Bank’s internal
disclosures for the year ended December 31, 2019, were discussed policies, code of conduct and business ethics, and the applicable
by the external auditor with the Audit Committee. After obtaining laws, rules and regulations including the effectiveness of the system
the external auditor’s unqualified opinion on the year-end financial of monitoring resolutions of outstanding issues.
statements, the Audit Committee approved the audited financial EDUARDO M. OLBES
statements based on authority given by the Board of Directors and E. Performance of the Audit Committee Chief Financial Officer
its inclusion in the 2019 Annual Report to the Stockholders.
1. The committee met nine times during the year with an average of
B. ystems of internal control, management of risks, and
S 80% attendance.
Signed this 28th day of February 2020
governance 2. The Audit Committee Charter was reviewed in the Audit
Committee Meeting on June 24, 2019 and revised to align its
The results of external and internal audits of the Bank’s internal control, provisions and to update the Committee’s roles and responsibilities
risk management and governance were discussed. The Audit Committee with relevant regulations, to make its language and format consistent SUBSCRIBED AND SWORN to before me this ______________________ affiants exhibiting to me their Passport ID as follows:
also ensured that management is taking appropriate corrective actions with the charters of other Board-level committees. The revisions
in a timely manner and addressing risk exposures, internal control, were approved by the Board of Directors on August 27, 2019. NAMES ID NUMBER DATE OF ISSUE PLACE OF ISSUE
governance and compliance issues. 3. An annual performance assessment of the Audit Committee and Alberto S. Villarosa EC4100693 May 6, 2015 Manila City
individual assessment of committee members were conducted. Sanjiv Vohra Z4836868 June 27, 2018 Singapore
C. erformance of the independent auditors and internal
P 4. As part of the continuing education program, the committee
audit function attended a seminar on Corporate Governance issues conducted
by the Institute of Corporate Directors.
External Audit
Doc. No.
1. SGV and Co. was re-appointed as the Bank’s external auditor for Based on the reviews and discussions undertaken, including the Page No.
the 2019 financial statements based on the results of performance unqualified opinion of the external auditor on the Bank’s financial Book No.
assessment conducted by designated officers of the Bank. statements, reasonable assurance is given that the systems of internal
They were likewise appointed to conduct limited financial review control, risk management and governance are generally adequate and
relative to the Peso-denominated corporate bonds issued by the designed to meet the organization’s business objectives. Improvements
Bank during the year. are being continually pursued by Senior Management to strengthen
2. The plan and scope, including audit fees, of the Bank’s external the Bank’s policies and procedures including adherence to regulatory
auditor were discussed and approved. requirements.
Mr. Gerard H. Brimo

Audit Committee Chairman

SECURITY BANK CORPORATION AND SUBSIDIARIES
Independent Auditor's Report
The Stockholders and the Board of Directors Security Bank Corporation
Report on the Consolidated and We recalculated impairment provisions on a sample basis. We Other Information
Parent Company Financial Statements reviewed the completeness of the disclosures made in the financial
statements. Management is responsible for the other information. The other
information comprises the information included in the SEC Form 20-IS
Opinion Applicable to the Audit of the Consolidated We involved our internal specialists in the performance of the above (Definitive Information Statement), SEC Form 17-A, and Annual Report for
and Parent Company Financial Statements procedures. the year ended December 31, 2019, but does not include the consolidated
We have audited the consolidated financial statements of Security Bank and parent company financial statements and our auditor’s report thereon.
Corporation and its subsidiaries (the Group) and the parent company Allowance for Credit Losses on Loans and Receivables Adoption of PFRS 16, Leases The SEC Form 20-IS (Definitive Information Statement), SEC Form 17-A,
financial statements of Security Bank Corporation (the Parent Company), The Group’s and the Parent Company’s application of the Expected Effective January 1, 2019, the Group and the Parent Company adopted and Annual Report for the year ended December 31, 2019 are expected to
which comprise the consolidated and parent company statements of Credit Loss (ECL) model in calculating the allowance for credit losses on PFRS 16, Leases, under the modified retrospective approach which be made available to us after the date of this auditor’s report.
financial position as at December 31, 2019 and 2018, and the consolidated loans and receivables is significant to our audit as it involves the exercise resulted in significant changes in the Group’s and the Parent Company’s
and parent company statements of income, consolidated and parent of significant management judgment. Key areas of judgment include: accounting policy for leases. The Group’s and the Parent Company’s Our opinion on the consolidated and Parent Company financial
company statements of comprehensive income, consolidated and parent segmenting the Group’s and the Parent Company’s credit risk exposures; adoption of PFRS 16 is significant to our audit because the Group and statements does not cover the other information and we do not express
company statements of changes in equity and consolidated and parent determining the method to estimate ECL; defining default; identifying the Parent Company has high volume of lease agreements; the recorded any form of assurance conclusion thereon.
company statements of cash flows for each of the three years in the exposures with significant deterioration in credit quality; determining amounts are material to the consolidated and parent company financial
period ended December 31, 2019, and notes to the consolidated and assumptions to be used in the ECL model such as the counterparty credit statements; and adoption involves application of significant judgment In connection with our audits of the consolidated and parent company
parent company financial statements, including a summary of significant risk rating, the expected life of the financial asset and expected recoveries and estimation in determining the lease term, including evaluating financial statements, our responsibility is to read the other information
accounting policies. from defaulted accounts; and incorporating forward-looking information whether the Group and the Parent Company are reasonably certain to identified above when it becomes available and, in doing so, consider whether
(called overlays) in calculating ECL. exercise options to extend or terminate the lease, and in determining the the other information is materially inconsistent with the consolidated and
In our opinion, the accompanying consolidated and parent company incremental borrowing rate. This resulted in the recognition of right of parent company financial statements or our knowledge obtained in the audit,
financial statements present fairly, in all material respects, the financial Allowance for credit losses on loans and receivables as of December 31, use assets amounting to PHP1.58 billion and PHP1.57 billion for the Group or otherwise appears to be materially misstated.
position of the Group and the Parent Company as at December 31, 2019 2019 for the Group and the Parent Company amounted to ₱5.93 billion and the Parent Company, respectively, and lease liability amounting to
and 2018, and their financial performance and their cash flows for each of and ₱5.92 billion, respectively. Provision for credit losses on loans and PHP1.74 billion and PHP1.73 billion, for the Group and the Parent Company, Responsibilities of Management and Those Charged with Governance
the three years in the period ended December 31, 2019 in accordance with receivables of the Group and the Parent Company in 2019 amounted to respectively, as of January 1, 2019, and the recognition of depreciation for the Consolidated and Parent Company Financial Statements
Philippine Financial Reporting Standards (PFRS). ₱4.31 billion and ₱3.51 billion, respectively. expense of PHP0.63 billion for both the Group and the
Parent Company, and interest expense of PHP0.13 billion for both the Group Management is responsible for the preparation and fair presentation of the
Basis for Opinion The disclosures related to the allowance for credit losses on loans and the Parent Company, for the year ended December 31, 2019. consolidated and parent company financial statements in accordance with
and receivables are included in Note 14 of the financial statements. PFRSs, and for such internal control as management determines is necessary
We conducted our audits in accordance with Philippine Standards on The disclosures related to the adoption of PFRS 16 are included in to enable the preparation of consolidated and parent company financial
Auditing (PSAs). Our responsibilities under those standards are further Audit Response Notes 2 and 16 to the consolidated financial statements. statements that are free from material misstatement, whether due to fraud or
described in the Auditor’s Responsibilities for the Audit of the Consolidated We obtained an understanding of the methodologies and models used error.
and Parent Company Financial Statements section of our report. We are for the Group’s and the Parent Company’s different credit exposures and Audit response
independent of the Group and the Parent Company in accordance with assessed whether these considered the requirements of PFRS 9 to reflect We obtained an understanding of the Group’s and the Parent Company’s In preparing the consolidated and parent company financial statements,
the Code of Ethics for Professional Accountants in the Philippines (the an unbiased and probability-weighted outcome, and to consider time process in implementing the new standard on leases, including the management is responsible for assessing the Group’s and the Parent
Code of Ethics) together with the ethical requirements that are relevant to value of money and the best available forward-looking information. determination of the population of the lease contracts covered by Company’s ability to continue as a going concern, disclosing, as applicable,
our audit of the consolidated and parent company financial statements in PFRS 16, the application of the short-term and low value assets matters related to going concern and using the going concern basis of
the Philippines, and we have fulfilled our other ethical responsibilities in We (a) assessed the Group’s and the Parent Company’s segmentation of exemption, the selection of the transition approach and any election accounting unless management either intends to liquidate the Group and the
accordance with these requirements and the Code of Ethics. We believe its credit risk exposures based on homogeneity of credit risk characteristics; of available practical expedients. Parent Company or to cease operations, or has no realistic alternative but to
that the audit evidence we have obtained is sufficient and appropriate to (b) tested the definition of default and significant increase in credit risk do so.
provide a basis for our opinion. criteria against historical analysis of accounts and credit risk management We tested the completeness of the population of lease agreements by
policies and practices in place, (c) tested the Group’s and the Parent comparing the number of leases per operational report against the database. Those charged with governance are responsible for overseeing the Group’s
Key Audit Matters Company’s application of internal credit risk rating system by reviewing On a test basis, we inspected lease agreements (i.e., lease agreements existing and the Parent Company’s financial reporting process.
the ratings of sample credit exposures; (d) assessed whether expected life prior to the adoption of PFRS 16 and new lease agreements), identified their
Key audit matters are those matters that, in our professional judgment, is different from the contractual life by testing the maturity dates reflected contractual terms and conditions, and Auditor’s Responsibilities for the Audit of the Consolidated
were of most significance in our audit of the consolidated and parent in the Group’s and the Parent Company’s records and considering traced these contractual terms and conditions to the lease calculation prepared and Parent Company Financial Statements
company financial statements of the current period. These matters were management’s assumptions regarding future collections, advances, by management, which covers the calculation of financial
addressed in the context of our audit of the consolidated and parent extensions, renewals and modifications; (e) tested loss given default by impact of PFRS 16, including the transition adjustments. Our objectives are to obtain reasonable assurance about whether the
company financial statements as a whole, and in forming our opinion inspecting historical recoveries and related costs, write-offs and collateral consolidated and Parent Company financial statements as a whole are
thereon, and we do not provide a separate opinion on these matters. For valuations; (f) tested exposure at default considering outstanding For selected lease contracts with renewal and/or termination option, we free from material misstatement, whether due to fraud or error, and to
each matter below, our description of how our audit addressed the matter commitments and repayment scheme; (g) checked the reasonableness of reviewed the management’s assessment of whether it is reasonably certain issue an auditor’s report that includes our opinion. Reasonable assurance
is provided in that context. forward-looking information used for overlay through statistical test that the Group and the Parent Company will exercise the option is a high level of assurance, but is not a guarantee that an audit conducted
and corroboration using publicly available information and our understanding to renew or not exercise the option to terminate. in accordance with PSAs will always detect a material misstatement when
We have fulfilled the responsibilities described in the Auditor’s of the Group’s and the Parent Company’s lending portfolios and broader it exists. Misstatements can arise from fraud or error and are considered
Responsibilities for the Audit of the Consolidated and Parent Company industry knowledge; and (h) tested the effective interest rate used in We tested the parameters used in the determination of the incremental material if, individually or in the aggregate, they could reasonably be
Financial Statements section of our report, including in relation to these discounting the expected loss. borrowing rate by reference to market data. We test computed the lease expected to influence the economic decisions of users taken on the
matters. Accordingly, our audit included the performance of procedures calculation prepared by management on a sample basis, including the basis of these consolidated and Parent Company financial statements.
designed to respond to our assessment of the risks of material misstatement Further, we checked the data used in the ECL models by reconciling data transition adjustments.
of the consolidated and parent company financial statements. The results from source system reports to the data warehouse and from the data
of our audit procedures, including the procedures performed to address the warehouse to the loss allowance analysis/models and financial reporting We reviewed the disclosures related to the transition adjustments based
matters below, provide the basis for our audit opinion on the accompanying systems. To the extent that the loss allowance analysis is based on credit on the requirements of PFRS 16 and PAS 8, Accounting Policies, Changes
consolidated and parent company financial statements. exposures that have been disaggregated into subsets of debt financial in Accounting Estimates and Errors.
assets with similar risk characteristics, we traced or re-performed the
disaggregation from source systems to the loss allowance analysis.
We also assessed the assumptions used where there are missing or
insufficient data.

independent auditor's report
Statements of Financial Position

Consolidated Parent Company
December 31
2019 2018 2019 2018
(Amounts in Thousands)
ASSETS
Cash and Other Cash Items ₱9,883,536 ₱11,926,373 ₱9,883,511 ₱11,926,348
Due from Bangko Sentral ng Pilipinas (Note 19) 56,118,831 63,605,386 56,118,831 63,605,386
Due from Other Banks (Notes 7 and 33) 9,275,093 9,017,042 9,110,862 8,880,800
As part of an audit in accordance with PSAs, we exercise professional From the matters communicated with those charged with governance,
judgment and maintain professional skepticism throughout the audit. we determine those matters that were of most significance in the Interbank Loans Receivable and Securities Purchased
We also: audit of the consolidated and parent company financial statements Under Resale Agreements with the Bangko Sentral ng Pilipinas 1,059,900 210,001 1,059,900 210,001
of the current period and are therefore the key audit matters. Financial Assets at Fair Value through Profit or Loss (Note 10) 4,865,699 4,948,775 3,273,038 4,948,748
• Identify and assess the risks of material misstatement of the We describe these matters in our auditor’s report unless law or Financial Assets at Fair Value through
consolidated and parent company financial statements, whether due regulation precludes public disclosure about the matter or when, Other Comprehensive Income (Note 12) 24,728,834 34,303,569 24,689,779 34,264,516
to fraud or error, design and perform audit procedures responsive in extremely rare circumstances, we determine that a matter should
Investment Securities at Amortized Cost (Note 13) 208,942,523 212,148,115 208,942,523 212,148,115
to those risks, and obtain audit evidence that is sufficient and not be communicated in our report because the adverse consequences
appropriate to provide a basis for our opinion. The risk of not of doing so would reasonably be expected to outweigh the public Loans and Receivables (Notes 14 and 33) 448,598,749 416,317,690 450,461,381 414,412,703
detecting a material misstatement resulting from fraud is higher interest benefits of such communication. Investments in Subsidiaries and a Joint Venture (Note 15) 317,115 293,316 2,279,981 3,924,173
than for one resulting from error, as fraud may involve collusion, Property, Equipment, and Right-of-use Assets (Note 16) 5,907,296 4,119,187 4,627,373 2,876,304
forgery, intentional omissions, misrepresentations, or the override Reports on the Supplementary Information Required Under
Investment Properties (Note 17) 1,061,025 812,794 1,064,541 815,002
of internal control. Bangko Sentral ng Pilipinas (BSP) Circular No. 1074 and Revenue
Regulations 15-2010 Deferred Tax Assets (Note 29) 2,283,555 1,876,566 2,236,854 1,782,706
• Obtain an understanding of internal control relevant to the audit Goodwill (Note 4) 841,602 841,602 841,602 841,602
in order to design audit procedures that are appropriate in the Our audits were conducted for the purpose of forming an opinion on Intangible Assets (Note 18) 2,641,727 2,343,035 2,616,690 2,317,317
circumstances, but not for the purpose of expressing an opinion the basic financial statements taken as a whole. The supplementary
Assets of Disposal Group Classified as Held for Sale (Note 38) 7,231,266 − 1,799,515 −
on the effectiveness of the Group’s and the Parent Company’s information required under BSP Circular No. 1074 in Note 43 and
internal control. Revenue Regulations 15-2010 in Note 42 to the financial statements is Other Assets (Note 18) 9,249,761 4,097,487 9,034,049 3,889,917
presented for purposes of filing with the BSP and Bureau of Internal TOTAL ASSETS ₱793,006,512 ₱766,860,938 ₱788,040,430 ₱766,843,638
• Evaluate the appropriateness of accounting policies used and the Revenue, respectively, and is not a required part of the basic financial
reasonableness of accounting estimates and related disclosures statements. Such information is the responsibility of the management
LIABILITIES AND EQUITY
made by management. of Security Bank Corporation. The information has been subjected
to the auditing procedures applied in our audit of the basic financial LIABILITIES
• Conclude on the appropriateness of management’s use of the going statements. In our opinion, the information is fairly stated, in all material Deposit Liabilities (Notes 19 and 33)
concern basis of accounting and, based on the audit evidence respects, in relation to the basic financial statements taken as a whole. Demand ₱150,080,183 ₱124,920,436 ₱150,362,933 ₱125,091,230
obtained, whether a material uncertainty exists related to events
Savings 82,156,987 114,736,362 82,298,101 114,823,140
or conditions that may cast significant doubt on the Group’s and the The engagement partner on the audit resulting in this independent
Parent Company’s ability to continue as a going concern. If we conclude auditor’s report is Vicky Lee Salas. Time 244,763,458 224,952,249 245,306,484 226,425,929
that a material uncertainty exists, we are required to draw attention in our Long-term Negotiable Certificates of Deposit 22,605,231 24,281,130 22,605,231 24,281,130
auditor’s report to the related disclosures in the consolidated and parent 499,605,859 488,890,177 500,572,749 490,621,429
company financial statements or, if such disclosures are inadequate, SYCIP GORRES VELAYO & CO.
Financial Liabilities at Fair Value through Profit or Loss (Note 20) 1,104,235 1,773,591 1,104,235 1,773,591
to modify our opinion. Our conclusions are based on the audit evidence
obtained up to the date of our auditor’s report. However, future events Derivative Liabilities Designated as Hedges (Note 11) 4,939,603 1,536,816 4,939,604 1,536,816
or conditions may cause the Group and the Parent Company to cease to Bills Payable and Securities Sold Under Repurchase Agreements (Note 21) 93,589,005 103,180,029 92,357,005 102,855,029
continue as a going concern. Acceptances Payable 491,917 618,831 491,917 618,831
Margin Deposits and Cash Letters of Credit 920,733 938,659 920,733 938,659
• Evaluate the overall presentation, structure and content of the Vicky Lee Salas
consolidated and parent company financial statements, including Partner Manager’s and Certified Checks Outstanding 4,120,763 3,275,753 4,120,763 3,275,753
the disclosures, and whether the consolidated and parent company CPA Certificate No. 86838 Income Tax Payable (Note 29) 358,420 30,334 338,856 25,468
financial statements represent the underlying transactions and events SEC Accreditation No. 0015-AR-4 (Group A), Notes and Bonds Payable (Note 22) 48,163,022 31,408,760 48,163,022 31,408,760
in a manner that achieves fair presentation. April 16, 2019 valid until April 15, 2022
Subordinated Note (Note 23) − 9,957,248 − 9,957,248
Tax Identification No. 129-434-735
• Obtain sufficient appropriate audit evidence regarding the financial BIR Accreditation No. 08-001998-53-2018, Accrued Interest, Taxes and Other Expenses (Note 24) 4,576,985 5,417,807 4,517,826 5,347,739
information of the entities or business activities within the Group to February 14, 2018 valid until February 13, 2021 Liabilities of Disposal Group Classified as Held for Sale (Note 38) 3,722,752 − − −
express an opinion on the consolidated financial statements. We are PTR No. 8125248, January 7, 2020, Makati City Other Liabilities (Note 25) 13,126,992 10,350,791 12,077,722 8,896,320
responsible for the direction, supervision and performance of the audit. TOTAL LIABILITIES 674,720,286 657,378,796 669,604,432 657,255,643
We remain solely responsible for our audit opinion. February 28, 2020
EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT COMPANY
We communicate with those charged with governance regarding, among Capital stock (Note 27) 7,635,389 7,635,389 7,635,389 7,635,389
other matters, the planned scope and timing of the audit and significant Additional paid-in capital (Note 27) 38,524,323 38,524,323 38,551,028 38,551,028
audit findings, including any significant deficiencies in internal control Surplus (Note 27) 71,265,080 63,748,219 71,406,531 63,845,378
that we identify during our audit.
Net unrealized gain (loss) on financial assets at fair value
through other comprehensive income (Note 12) 893,196 (429,428) 888,015 (434,608)
We also provide those charged with governance with a statement
that we have complied with relevant ethical requirements regarding Net unrealized gain on subsidiaries’ financial assets at fair value
independence, and to communicate with them all relationships and other through other comprehensive income (Notes 12 and 15) 14,980 14,742 8,732 8,494
matters that may reasonably be thought to bear on our independence, Cumulative foreign currency translation (53,698) (17,686) (53,697) (17,686)
and where applicable, related safeguards. 118,279,270 109,475,559 118,435,998 109,587,995
NON-CONTROLLING INTEREST 6,956 6,583 − −
TOTAL EQUITY 118,286,226 109,482,142 118,435,998 109,587,995
TOTAL LIABILITIES AND EQUITY ₱793,006,512 ₱766,860,938 ₱788,040,430 ₱766,843,638
See accompanying Notes to Financial Statements.

SECURITY BANK CORPORATION AND SUBSIDIARIES SECURITY BANK CORPORATION AND SUBSIDIARIES
Statements of Income Statements of Comprehensive Income

Consolidated Parent Company Consolidated Parent Company
Years Ended December 31 Years Ended December 31
2019 2018 2017 2019 2018 2017 2019 2018 2017 2019 2018 2017
(Amounts in Thousands, Except Earnings per Share) (Amounts in Thousands)
INTEREST INCOME ON
Loans and receivables (Notes 14 and 33) ₱33,633,356 ₱23,943,130 ₱17,356,906 ₱32,439,281 ₱23,476,439 ₱17,289,877 NET INCOME FOR THE YEAR ₱10,102,107 ₱8,609,770 ₱10,265,093 ₱10,145,946 ₱8,650,134 ₱10,309,267
Financial assets at fair value through other
comprehensive income and investment OTHER COMPREHENSIVE INCOME (LOSS)
securities at amortized cost (Note 8) 9,243,972 8,916,289 10,399,086 9,243,972 8,916,289 10,399,086 Other Comprehensive Income (Loss) to be
Financial assets at fair value through profit or loss (Note 8) 978,101 867,768 602,621 978,101 867,768 600,400 Reclassified to Profit or Loss in
Interbank loans receivable and securities purchased under Subsequent Periods:
resale agreements with the Bangko Sentral ng Pilipinas 280,295 134,196 119,731 280,295 134,187 119,731 Cumulative translation adjustments (36,012) 34,952 (297,269) (36,012) 34,952 (297,269)
Deposits with banks and others (Note 7) 67,824 100,196 316,471 60,790 97,799 312,486 Change in net unrealized gain (loss) on debt
44,203,548 33,961,579 28,794,815 43,002,439 33,492,482 28,721,580 instruments at fair value through other
INTEREST EXPENSE ON comprehensive income (Note 12) 1,305,867 (1,411,963) − 1,310,753 (1,411,963) −
Deposit liabilities (Notes 19 and 33) 10,528,259 8,227,763 5,229,464 10,570,376 8,248,368 5,226,066 1,269,855 (1,377,011) (297,269) 1,274,741 (1,377,011) (297,269)
Subordinated note, bills payable, securities sold under Other Comprehensive Income (Loss) not to be
repurchase agreements, notes payable, and other Reclassified to Profit or Loss in Subsequent Periods:
borrowings (Note 21) 5,881,455 4,124,590 3,587,076 5,719,585 4,115,682 3,581,285 Remeasurement gains (losses) on defined
Derivative instruments (Note 20) 799,447 789,219 588,243 799,447 789,219 588,243 benefit plans (Notes 15, 27 and 30) (277,720) 2,478 226,618 (277,725) 2,478 226,618
Lease liabilities (Note 16) 128,899 − − 128,362 − − Revaluation gains on equity instruments at fair value
Derivatives designated as hedges (Note 11) 21,837 − 4,156 21,837 − 4,156 through other comprehensive income (Note 12) 16,995 72,254 21,945 12,108 72,253 15,698
17,359,897 13,141,572 9,408,939 17,239,607 13,153,269 9,399,750 (260,725) 74,732 248,563 (265,617) 74,731 242,316
NET INTEREST INCOME 26,843,651 20,820,007 19,385,876 25,762,832 20,339,213 19,321,830
Service charges, fees and commissions (Note 31) 4,084,055 2,926,883 2,320,430 3,577,871 2,591,215 1,841,249
OTHER COMPREHENSIVE INCOME (LOSS)
Rent (Notes 17, 33 and 34) 529,292 419,232 289,555 34,223 29,690 38,504
FOR THE YEAR 1,009,130 (1,302,279) (48,706) 1,009,124 (1,302,280) (54,953)
Foreign exchange gain - net (Note 6) 423,912 375,910 125,880 424,110 375,475 125,657
Trading and securities gain - net (Note 9) 1,538,150 366,061 26,965 1,536,955 366,058 28,032
Profit from assets sold/exchanged (Notes 17 and 18) 20,822 150,999 144,926 21,644 146,918 142,587 TOTAL COMPREHENSIVE INCOME ₱11,111,237 ₱7,307,491 ₱10,216,387 ₱11,155,070 ₱7,347,854 ₱10,254,314
Share in net income of subsidiaries and

a joint venture (Note 15) 23,799 26,461 25,452 174,946 317,130 210,559 ATTRIBUTABLE TO:
Gain on disposal of investment securities at Equity holders of the Parent Company ₱11,110,862 ₱7,306,415 ₱10,216,091
amortized cost (Notes 9 and 13) − − 2,349,270 − − 2,349,270 Non-controlling interest 375 1,076 296
Miscellaneous (Note 32) 485,009 513,291 416,746 416,040 441,742 352,894 ₱11,111,237 ₱7,307,491 ₱10,216,387
TOTAL OPERATING INCOME 33,948,690 25,598,844 25,085,100 31,948,621 24,607,441 24,410,582

OPERATING EXPENSES See accompanying Notes to Financial Statements.
Compensation and fringe benefits (Notes 30 and 33) 5,581,128 4,938,700 4,258,952 5,455,817 4,852,446 4,166,079
Provision for credit losses (Note 14) 4,174,274 714,483 656,469 3,368,528 617,968 629,322
Taxes and licenses 3,183,996 1,778,383 1,561,636 3,042,567 1,717,472 1,523,300
Depreciation and amortization (Note 16) 1,867,239 1,138,538 943,964 1,425,232 808,389 742,159
Occupancy costs (Notes 17, 33 and 34) 364,578 1,086,230 904,610 349,469 1,077,151 897,075
Amortization of software costs (Note 18) 259,974 191,258 126,127 258,891 190,264 122,890
Provision for (recovery of) impairment losses (Note 17) 8,813 7,316 (5,328) 8,813 8,836 (2,180)
Miscellaneous (Notes 29 and 32) 6,093,197 4,658,054 4,687,425 5,582,780 4,338,389 4,395,326
TOTAL OPERATING EXPENSES 21,533,199 14,512,962 13,133,855 19,492,097 13,610,915 12,473,971
INCOME BEFORE INCOME TAX 12,415,491 11,085,882 11,951,245 12,456,524 10,996,526 11,936,611
PROVISION FOR INCOME TAX (Note 29) 2,313,384 2,476,112 1,686,152 2,310,578 2,346,392 1,627,344
NET INCOME ₱10,102,107 ₱8,609,770 ₱10,265,093 ₱10,145,946 ₱8,650,134 ₱10,309,267
ATTRIBUTABLE TO:
Equity holders of the Parent Company (Notes 27 and 37) ₱10,101,732 ₱8,608,694 ₱10,264,797
Non-controlling interest 375 1,076 296
NET INCOME ₱10,102,107 ₱8,609,770 ₱10,265,093
Basic/Diluted Earnings Per Share (Note 37) ₱13.40 ₱11.42 ₱13.62

Statements of Changes in Equity

GRI 102-5
Consolidated
Years Ended December 31, 2019, 2018 and 2017
Equity Attributable to Equity Holders of the Parent Company
Net Unrealized Gain on
Additional Net Unrealized Gain on Financial Subsidiaries’ Financial Assets Cumulative
Capital Stock Paid-in Capital Surplus Assets at Fair Value through Other at Fair Value through Other Foreign Currency Non-controlling
(Note 27) (Note 27) (Note 27) Comprehensive Income (Note 12) Comprehensive Income (Note 12) Translation Total Interest Total Equity
Balance at January 1, 2019, as previously reported ₱7,635,389 ₱38,524,323 ₱63,748,219 (₱429,428) ₱14,742 (₱17,686) ₱109,475,559 ₱6,583 ₱109,482,142
Effect of adopting Philipine Financial Reporting Standard (PFRS) 16 (Note 2) – – (42,275) – – – (42,275) (2) (42,277)
Balance at January 1, 2019, as restated 7,635,389 38,524,323 63,705,944 (429,428) 14,742 (17,686) 109,433,284 6,581 109,439,865
Total comprehensive income for the year – – 9,824,012 1,322,624 238 (36,012) 11,110,862 375 11,111,237
Declaration of cash dividends – – (2,264,876) – – – (2,264,876) – (2,264,876)
Balance at December 31, 2019 ₱7,635,389 ₱38,524,323 ₱71,265,080 ₱893,196 ₱14,980 (₱53,698) ₱118,279,270 ₱6,956 ₱118,286,226
Balance at January 1, 2018, as previously reported ₱7,635,389 ₱38,524,323 ₱58,853,423 ₱90,968 ₱21,423 (₱52,638) ₱105,072,888 ₱5,541 ₱105,078,429
Effect of adopting the final version of PFRS 9 – – (1,461,003) 812,632 – – (648,371) (34) (648,405)
Effect of adopting PFRS 15 – – 9,503 – – – 9,503 – 9,503
Balance at January 1, 2018, as restated 7,635,389 38,524,323 57,401,923 903,600 21,423 (52,638) 104,434,020 5,507 104,439,527
Total comprehensive income for the period – – 8,611,172 (1,333,028) (6,681) 34,952 7,306,415 1,076 7,307,491
Balance at December 31, 2018 ₱7,635,389 ₱38,524,323 ₱63,748,219 (₱429,428) ₱14,742 (₱17,686) ₱109,475,559 ₱6,583 ₱109,482,142
Balance at January 1, 2017 ₱7,635,389 ₱38,524,323 ₱50,626,884 ₱72,018 ₱18,428 ₱244,631 ₱97,121,673 ₱5,245 ₱97,126,918
Total comprehensive income for the year – – 10,491,415 18,950 2,995 (297,269) 10,216,091 296 10,216,387
Balance at December 31, 2017 ₱7,635,389 ₱38,524,323 ₱58,853,423 ₱90,968 ₱21,423 (₱52,638) ₱105,072,888 ₱5,541 ₱105,078,429
Parent Company
Years Ended December 31, 2019, 2018 and 2017
Net Unrealized Gain on Net Unrealized Gain on Subsidiaries’
Capital Stock Additional Paid-in Capital Surplus Financial Assets at Fair Value through Financial Assets at Fair Value through Other Cumulative Foreign
(Note 27) (Note 27) (Note 27) Other Comprehensive Income (Note 12) Comprehensive Income (Note 12) Currency Translation
Balance at January 1, 2019, as previously reported ₱7,635,389 ₱38,551,028 ₱63,845,378 (₱434,608) ₱8,494 (₱17,686) ₱109,587,995
Effect of adopting PFRS 16 (Note 2) – – (42,192) – – – (42,192)
Balance at January 1, 2019, as restated 7,635,389 38,551,028 63,803,186 (434,608) 8,494 (17,686) 109,545,803
Total comprehensive income for the year – – 9,868,221 1,322,623 238 (36,012) 11,155,070
Declaration of cash dividends – – (2,264,876) – – – (2,264,876)
Balance at December 31, 2019 ₱7,635,389 ₱38,551,028 ₱71,406,531 ₱888,015 ₱8,732 (₱53,698) ₱118,435,997
Balance at January 1, 2018, as previously reported ₱7,635,389 ₱38,551,028 ₱58,910,539 ₱85,788 ₱15,176 (₱52,638) ₱105,145,282
Effect of adopting the final version of PFRS 9 – – (1,462,400) 812,632 – – (649,768)
Effect of adopting PFRS 15 – – 9,503 – – – 9,503
Balance at January 1, 2018, as restated 7,635,389 38,551,028 57,457,642 898,420 15,176 (52,638) 104,505,017
Total comprehensive income for the period – – 8,652,612 (1,333,028) (6,682) 34,952 7,347,854
Balance at December 31, 2018 ₱7,635,389 ₱38,551,028 ₱63,845,378 (₱434,608) ₱8,494 (₱17,686) ₱109,587,995
Balance at January 1, 2017 ₱7,635,389 ₱38,551,028 ₱50,639,530 ₱66,838 ₱18,428 ₱244,631 ₱97,155,844
Total comprehensive income for the year – – 10,535,885 18,950 (3,252) (297,269) 10,254,314
Balance at December 31, 2017 ₱7,635,389 ₱38,551,028 ₱58,910,539 ₱85,788 ₱15,176 (₱52,638) ₱105,145,282

Statements of Cash Flows

Consolidated Parent Company Consolidated Parent Company
Years Ended December 31 Years Ended December 31
2019 2018 2017 2019 2018 2017 2019 2018 2017 2019 2018 2017
(Amounts in Thousands) (Amounts in Thousands)
CASH FLOWS FROM OPERATING ACTIVITIES CASH FLOWS FROM FINANCING ACTIVITIES
Income before income tax ₱12,415,491 ₱11,085,882 ₱11,951,245 ₱12,456,524 ₱10,996,526 ₱11,936,611 Settlements of bills payable and securities
Adjustments for: sold under repurchase agreements (₱4,366,722,703) (₱2,565,298,292) (₱2,013,737,221) (₱4,360,641,703) (₱2,564,933,292) (₱2,013,424,221)
Proceeds from:
Provision for credit losses (Note 14) 4,174,274 714,483 656,469 3,368,528 617,968 629,322
Bills payable and securities sold
Depreciation and amortization (Note 16) 1,867,239 1,138,538 943,964 1,425,232 808,389 742,159
underrepurchase agreements 4,363,848,087 2,530,024,152 1,984,831,943 4,353,308,127 2,529,484,152 1,984,458,943
Amortization of premium on financial assets at fair
Issuance of LTNCD (Note 19) 8,296,409 5,727,494 8,541,289 8,296,409 5,727,494 8,541,289
value through other comprehensive income and
investment securities at amortized cost 841,988 798,872 275,846 841,988 798,872 275,846 Issuance of notes and
bonds payable (Note 22) 17,839,206 16,136,646 − 17,839,206 16,136,646 –
Amortization of software costs (Note 18) 259,974 191,258 126,127 258,891 190,264 122,890
Maturity of LTNCD (10,000,000) − − (10,000,000) − –
Amortization of transaction costs onLTNCD,
notes payable and subordinated note Payment of subordinated note (10,000,000) − − (10,000,000) − –
(Notes 19, 22 and 23) 148,031 55,204 34,920 148,031 55,204 34,920 Cash dividends paid (Note 27) (2,266,561) (2,268,039) (2,271,232) (2,266,581) (2,268,039) (2,271,232)
Provision for (recovery of) Payments of lease liabilities (613,570) − − (610,909) − −
impairment losses (Note 17) 8,813 7,316 (5,328) 8,813 8,836 (2,180) Net cash provided by (used in)
Hedge ineffectiveness (Note 11) 2,692 (90,784) − 2,692 (90,784) − financing activities 380,868 (15,678,039) (22,635,221) (4,075,451) (15,853,039) (22,695,221)
Gain on disposal of investment securities Effect of exchange rate differences 844,201 (1,958,408) 1,691,812 844,201 (2,387,753) 1,691,812
at amortized cost (Notes 9 and 13) − − (2,349,270) − − (2,349,270)
Profit from assets sold/exchanged (Notes 17 and 18) (20,822) (150,999) (144,926) (21,644) (146,918) (142,587)
NET INCREASE (DECREASE) IN
Share in net income of subsidiaries
CASH AND CASH EQUIVALENTS (9,473,342) 7,698,754 (14,044,563) (9,501,331) 7,647,996 (13,138,128)
and a joint venture (Note 15) (23,799) (26,461) (25,452) (174,945) (317,130) (210,559)
Unrealized market valuation loss (gain) on
financial instruments at fair value through CASH AND CASH EQUIVALENTS
profit or loss (Notes 10 and 20) (67,805) 51,006 (36,863) (67,805) 51,006 (38,028) AT BEGINNING OF YEAR
Gain on disposal of financial assets Cash and other cash items 11,926,373 7,956,367 7,692,810 11,926,348 7,956,342 7,692,718
at FVTOCI (Note 9) (1,138,116) (508,634) − (1,138,116) (508,634) − Due from Bangko Sentral ng Pilipinas 63,605,386 56,592,042 71,662,840 63,605,386 56,592,042 71,423,852
Changes in operating assets and liabilities: Due from other banks 9,017,042 6,822,992 11,058,652 8,880,800 6,737,508 10,996,097
Decrease (increase) in the amounts of: Interbank loans receivable and securities
Due from other banks (1,174) (3,937) − 3,018 (5,742) − purchased under resale agreements with
Interbank loans receivable and SPURA (1,051,581) (319) (110,430) (1,051,581) (319) (110,430) the Bangko Sentral ng Pilipinas 210,001 5,688,647 690,309 210,001 5,688,647 –
Financial assets at FVTPL (Note 10) (518,475) (1,067,099) 186,143 1,074,159 (743,976) 284,101 84,758,802 77,060,048 91,104,611 84,622,535 76,974,539 90,112,667
Loans and receivables (Note 14) (43,864,593) (48,520,704) (81,441,581) (39,802,860) (48,707,822) (79,833,252)
Other assets (5,799,143) (1,569,001) 922,598 (5,760,328) (1,542,178) 949,363 CASH AND CASH EQUIVALENTS
Increase (decrease) in the amounts of: AT END OF YEAR
Deposit liabilities (Note 19) 12,391,581 70,031,646 57,952,217 11,627,219 69,836,990 57,617,121 Cash and other cash items 9,883,536 11,926,373 7,956,367 9,883,511 11,926,348 7,956,342
Acceptances payable (126,914) (65,859) (64,975) (126,914) (65,859) (64,975) Due from Bangko Sentral ng Pilipinas 56,118,831 63,605,386 56,592,042 56,118,831 63,605,386 56,592,042
Margin deposits and cash letters of credit (17,926) 288,382 265,780 (17,926) 288,382 265,780 Due from other banks 9,275,093 9,017,042 6,822,992 9,110,862 8,880,800 6,737,508
Manager's and certified checks outstanding 845,010 (331,385) 551,235 845,010 (331,385) 551,235 Interbank loans receivable and securities
Accrued interest, taxes and other expenses purchased under resale agreements with
(Note 24) (655,042) 1,378,638 984,668 (737,632) 1,353,207 984,888
the Bangko Sentral ng Pilipinas 8,000 210,001 5,688,647 8,000 210,001 5,688,647
Other liabilities (Note 25) 650,595 1,952,102 723,876 984,561 2,542,945 29,733
₱75,285,460 ₱84,758,802 ₱77,060,048 ₱75,121,204 ₱84,622,535 ₱76,974,539
Net cash generated from (used in) operations (19,681,507) 35,358,145 (8,603,737) (15,855,085) 35,087,842 (8,327,312)
Income taxes paid (2,537,758) (2,714,956) (1,702,306) (2,433,657) (2,661,795) (1,655,471)
Net cash provided by (used in) operating activities (22,219,265) 32,643,189 (10,306,043) (18,288,742) 32,426,047 (9,982,783)
OPERATIONAL CASH FLOWS FROM
INTEREST AND DIVIDENDS
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received ₱44,601,672 ₱33,107,550 ₱29,023,716 ₱43,345,764 ₱32,676,814 ₱28,963,576
Acquisitions of:
Interest paid 17,875,342 11,740,682 8,956,391 17,767,296 11,752,379 8,947,977
Investment securities at amortized cost (691,384) (1,986,718) (61,207,446) (691,384) (1,986,718) (61,207,446)
Dividends received 3,335 6,810 6,679 3,335 5,085 5,431
Financial assets at FVTOCI (176,088,368) (62,157,123) − (176,088,367) (62,157,125) −
Property and equipment (Note 16) (1,148,671) (1,241,242) (1,559,574) (632,929) (618,365) (941,582)
Software costs (Note 18) (558,666) (545,501) (248,123) (558,264) (542,708) (247,724)
Branch licenses (Note 18) − − (20,000) − − (20,000)
Proceeds from:
Disposals or maturities of investment
securities at amortized cost 623,680 1,000,000 79,917,049 623,680 1,000,000 79,917,049
Disposals or maturities of financial assets at FVTOCI 188,795,389 57,159,594 − 188,795,389 57,159,594 −
Disposals of investment properties 536,229 427,893 285,535 537,051 427,893 285,534
Disposals of property and equipment 52,645 35,109 37,448 14,281 17,670 62,233
Dividends received from subsidiaries (Note 15) − − − 19,204 162,500 −
Net cash provided by (used in) investing activities 11,520,854 (7,307,988) 17,204,889 12,018,661 (6,537,259) 17,848,064
(Continued on the next page)

GRI Content Index DISCLOSURE PAGE NUMBERS AND/
OR DIRECT ANSWERS
OMISSION
GRI 102-55
GRI 102-52 Reporting cycle Annual
GRI 102-53 Contact point for questions regarding the report 146
For the Materiality Disclosures Service, GRI Services reviewed that the GRI 102-54 Claims of reporting in accordance with the GRI standards 31
GRI content index is clearly presented and the references for Disclosures GRI 102-55 GRI content index 129
102-40 to 102-49 align with appropriate sections in the body of the report.
DISCLOSURE PAGE NUMBERS AND/ OMISSION

OR DIRECT ANSWERS
GRI 101: Foundation 2016
General Disclosures
GRI 102: General Disclosures 2016 TOPIC DISCLOSURE TOPIC PAGE NUMBERS AND/ OMISSION
Organizational profile OR DIRECT ANSWERS
GRI 102-1 Name of the organization 1 Economic performance
GRI 102-2 Activities, brands, products, and services 11 GRI 103: GRI 103-1 Explanation of the material 36
Management topic and its Boundary
GRI 102-3 Location of headquarters 146 Approach 2016 GRI 103-2 The management approach and its components 36
GRI 102-4 Location of operations 133
GRI 103-3 Evaluation of the management approach 36
GRI 102-5 Ownership and legal form 125
GRI 201: GRI 201-1 Direct economic value 3, 36
GRI 102-6 Markets served 1
Economic generated and distributed
GRI 102-7 Scale of the organization 46 Performance
GRI 102-8 Information on employees and other workers 46 2016
GRI 102-9 Supply chain Not Applicable (no GRI 103: GRI 103-1 Explanation of the material 59
significant impact on Management topic and its Boundary
sustainability) Approach 2016 GRI 103-2 The management approach and its components 59
GRI 102-10 Significant changes to the organization and its supply chain Not Applicable (no GRI 103-3 Evaluation of the management approach 59
significant impact on GRI 203: GRI 203-1 Infrastructure investments 60
sustainability) Indirect and services supported
GRI 102-11 Precautionary Principle or approach 103 Economic GRI 203-2 Significant indirect economic impacts 60
GRI 102-12 External initiatives Not Applicable (no such Impacts 2016
initiatives) Compliance
GRI 102-13 Membership of associations 1 GRI 103: GRI 103-1 Explanation of the material 111
Strategy Management topic and its Boundary
Approach 2016 GRI 103-2 The management approach and its components 111
GRI 102-14 Statement from senior decision-maker 5
Ethics and integrity GRI 103-3 Evaluation of the management approach 111
GRI 102-16 Values, principles, standards, and norms of behavior 1 GRI 205: Anti- GRI 205-1 Operations assessed for 112
corruption 2016 risks related to corruption
Governance
GRI 205-2 Communication and training about 112
GRI 102-18 Governance structure 93
anti-corruption policies and procedures
Stakeholder engagement
GRI 205-3 Confirmed incidents of corruption Zero incidents of
GRI 102-40 List of stakeholder groups 34 and actions taken corruptions reported in
GRI 102-41 Collective bargaining agreements 46 2019
GRI 102-42 Identifying and selecting stakeholders 34 GRI 103: GRI 103-1 Explanation of the material 111
GRI 102-43 Approach to stakeholder engagement 34
GRI 102-44 Key topics and concerns raised 34
Reporting practice
GRI 307: GRI 307-1 Non-compliance with environmental Zero incidents of
GRI 102-45 Entities included in the consolidated financial statements All entities in the
Environmental laws and regulations non-compliance with
consolidated financial
Compliance environmental laws
statements are included
2016 reported in 2019
in the sustainability
report GRI 103: GRI 103-1 Explanation of the material 111
GRI 102-46 Defining report content and topic Boundaries 35
GRI 102-47 List of material topics 35
GRI 102-48 Restatements of information None
GRI 102-49 Changes in reporting None
GRI 102-50 Reporting period 31
GRI 102-51 Date of most recent report Apr-19

gri content index gri content index
TOPIC DISCLOSURE TOPIC PAGE NUMBERS AND/ OMISSION TOPIC DISCLOSURE TOPIC PAGE NUMBERS AND/ OMISSION
OR DIRECT ANSWERS OR DIRECT ANSWERS
Energy GRI 103: GRI 103-1 Explanation of the material 46
GRI 103: GRI 103-1 Explanation of the material topic and its Boundary 55 Management topic and its Boundary
Management Approach 2016 GRI 103-2 The management approach and its components 46
GRI 103-2 The management approach and its components 55
Approach 2016 GRI 103-3 Evaluation of the management approach 46
GRI 302: GRI 302-1 Energy consumption within the organization 56 GRI 406: Non- GRI 406-1 Incidents of discrimination No incidents were
Energy 2016 discrimination and corrective actions taken reported in 2019
GRI 302-3 Energy intensity 56 2016
GRI 103: GRI 103-1 Explanation of the material 55 GRI 103: GRI 103-1 Explanation of the material 51
Management topic and its Boundary Management topic and its Boundary
Approach 2016 GRI 103-2 The management approach and its components 55 Approach 2016 GRI 103-2 The management approach and its components 51
GRI 103-3 Evaluation of the management approach 55 GRI 103-3 Evaluation of the management approach 51
GRI 305: GRI 305-1 Direct (Scope 1) GHG Emissions 57 GRI 407: GRI 407-1 Operations and suppliers in which the Only employees with
Emissions 2016 GRI 305-2 Energy indirect (Scope 2) GHG Emissions 57 Freedom of right to freedom of association and access to confidential
Water Associaition collective bargaining may be at risk information are not
and Collective allowed to be part of
GRI 103: GRI 103-1 Explanation of the material 55 Bargaining collective bargaining
Management topic and its Boundary 2016
Approach 2016 GRI 103-2 The management approach and its components 55 GRI 103: GRI 103-1 Explanation of the material 111
GRI 103-3 Evaluation of the management approach 55 Management topic and its Boundary
GRI 303: Water GRI 303-1 Interactions with water as a shared resource [Not Applicable] Approach 2016 GRI 103-2 The management approach and its components 111
and Effluents No significant GRI 103-3 Evaluation of the management approach 111
2018 water-related
impacts GRI 410: GRI 410-1 Security personnel trained in human All our security
Security rights policies or procedures personnel are
GRI 303-2 Management of water [Not Applicable] Practices 2016 outsourced and are
discharge-related impacts No significant regularly trained by a
water-related third party agency on
impacts human rights topics
GRI 303-3 Water withdrawal 57 Community Development
Labor practices and employee relations GRI 103: GRI 103-1 Explanation of the material 59
GRI 103: GRI 103-1 Explanation of the material 46 Management topic and its Boundary
Management topic and its Boundary Approach 2016 GRI 103-2 The management approach and its components 59
Approach 2016 GRI 103-2 The management approach and its components 46 GRI 103-3 Evaluation of the management approach 59
GRI 103-3 Evaluation of the management approach 46 GRI 413: Local GRI 413-1 Operations with local community 51
GRI 401: GRI 401-2 Benefits provided to full-time employees 53 Communities engagement, impact assessments,
Employment that are not provided to temporary 2016 and development programs
2016 or part-time employees. GRI 413-2 Operations with significant actual and potential 59
GRI 103: GRI 103-1 Explanation of the material 49 negative impacts on local communities
Management topic and its Boundary Customer Service
Approach 2016 GRI 103-2 The management approach and its components 49 GRI 103: GRI 103-1 Explanation of the material 38
GRI 103-3 Evaluation of the management approach 49 Management topic and its Boundary
GRI 404: GRI 404-1 Average hours of training per year per employee 50 Approach 2016 GRI 103-2 The management approach and its components 38
Training and GRI 404-2 Programs for upgrading employee 49 GRI 103-3 Evaluation of the management approach 38
Education 2016 skills and transition assistance program GRI 417: GRI 417-1 Requirements for product and 11
GRI 103: GRI 103-1 Explanation of the material 46 Marketing and service information and labeling
Management topic and its Boundary Labeling 2016 GRI 417-2 Incidents of non-compliance concerning product No incidents were
Approach 2016 GRI 103-2 The management approach and its components 46 and service information and labeling reported in 2019
GRI 103-3 Evaluation of the management approach 46 GRI 417-3 Incident of non-compliance concerning marketing No incidents were
GRI 405: GRI 405-1 Diversity of governance bodies and employees 46 communications reported in 2019
Diversity GRI 405-2 Ratio of basic salary and remuneration The ratio of salary is GRI 103: GRI 103-1 Explanation of the material 38
and Equal of women to men based on performance Management topic and its Boundary
Opportunity and position and not on Approach 2016 GRI 103-2 The management approach and its components 38
2016 gender GRI 103-3 Evaluation of the management approach 38

Branch Directory
GRI 102-4
A. LINAO-PACO ALIMALL AYALA ALABANG BALIWAG BEL-AIR BLUMENTRITT

Units 1644 and 1646 along Angel Linao Street, Level 2 Ali Mall, P. Tuazon Street, Cubao, El Molito Building, Madrigal Business Park, 317 B.S. Aquino Avenue, Baliwag, Bulacan No. 40 Jupiter corner Paseo de Roxas Street, Chinese General Hospital Compound,
Paco, Manila Quezon City Madrigal Avenue, Ayala Alabang, Muntinlupa Tel No. (044) 766-3328 Bel-Air, Makati City Blumentritt corner Aurora Boulevard,
Tel Nos. (02) 3498-0449, (02) 8244-4521 Tel No. (02) 3437-2951 City Fax No. (044) 766-3297 Tel No. (02) 8896-3130 Sta. Cruz, Manila
Fax No. (02) 8244-4521 Fax No. (02) 3440-7904 Tel No. (02) 8772-1856 Mobile No. 0922 872-2349 (SUN) Fax No. (02) 8896-3313 Tel No. (02) 8741-5522
Mobile No. 0925 711-0952 (SUN) Mobile No. 0925 525-7323 (SUN) Fax No. (02) 8772-1701 Mobile No. 0922 872-2015 (SUN), Fax No. (02) 8711-3365
Mobile No. 0922 872-2049 (SUN), 0920 907-4861 (SMART), Mobile No. 0922 872-2043 (SUN)
BALUT
ACROPOLIS ANGELES 0920 977-9754 (SMART) 0917 562-7718 (GLOBE)
#49 Honorio Lopez Boulevard corner Rosario
E. Rodriguez Jr. Avenue (C-5), Libis, Quezon SBC Building, McArthur Highway, Balibago, Nicasio Street, Balut, Tondo, Manila BOCAUE
City Angeles City AYALA-RUFINO Tel No. (02) 8516-5026 BENAVIDEZ 9079 McArthur Highway, Wakas Bocaue,
Tel Nos. (02) 8654-9525, (02) 8477-4490 Tel No. (045) 322-7110 6797 Ayala Avenue, Makati City Fax No. (02) 8522-9242 1264-1266 Benavidez Street, Sta. Cruz, Manila Bulacan
Fax No. (02) 8654-9525 Fax No. (045) 892-2419 Tel No. (02) 8464-3012; (02) 8464-3013; Mobile No. 0922 872-2042 (SUN) Tel No. (02) 8230-4864, (02) 8495-1810 Tel No. (044) 760-5404, (044) 760-5405
Mobile No. 0998 965-7334 (SMART) Mobile No. 0922 872-2082 (SUN) (02) 8464-3014; (02) 8464-3018 Fax No. (02) 8230-4864 Fax No. (044) 760-5405
Fax No. (02) 8808-7106 Mobile No. 0925 525-7322 (SUN) Mobile No. 0925 825-9823 (SUN),
BAMBANG
ADB AVENUE ANGELES-MCARTHUR HIGHWAY Mobile No. 0925 825-9837 (SUN) 0917 524-5811 (GLOBE)
1634 Bambang Street corner Oroquieta Street,
G/F AIC Empire Tower, ADB Avenue corner McArthur Highway corner San Pablo Street, Sta. Cruz, Manila
Sapphire Road, Ortigas Center, Pasig City Angeles City, Pampanga BACOLOD-LACSON Tel No. (02) 8734-1285, (02) 8733-9714 BF PARAÑAQUE BONI AVENUE
Tel Nos. (02) 8997-1801 Tel No. (045) 458-4798, (045) 458-4799 G/F Insular Life Building, Lacson corner Galo Fax No. (02) 8734-1285 President’s Avenue, BF Homes, G/F Bonifacio Residences, 612 Boni Avenue
Fax No. (02) 8997-1966 Fax No. Street, Bacolod City Parañaque City corner Sikap Street, Mandaluyong City
Mobile No. 0925 825-9824 (SUN)
Mobile No. 0925 899-7704 (SUN) Mobile No. 0918-919-6694 (SMART) Tel No. (034) 435-0856, (034) 474 2089 Tel No. (02) 807-7910 Tel No. (02) 8532-4374, (02) 8532-6604
Fax No. (034) 434-2225 Fax No. (02) 807-1444 Fax No. (02) 8532-6604
BANAWE-KITANLAD
Mobile No. 0922 872-2146 (SUN) Mobile No. 0922 872-2155 (SUN), Mobile No. 0925 825-9826 (SUN)
ADRIATICO-P. FAURA ANGELES-STO. ROSARIO No. 34-36 Banawe corner Kitanlad Streets, 0920 977-9759 (SMART)
1325 M. Adriatico Street, Malate, Manila 292 Sto. Rosario Street, Angeles City Quezon City
Tel No. (045) 322-3055 BACOLOD-MANDALAGAN Tel No. (02) 8743-1755, (02) 8711-1296, BUENDIA-DIAN
Tel Nos. (02) 8521-4395, (02) 8526-0158
G/F O Residences, Lacson Street, Mandalagan, (02) 8743-1752 BF PARAÑAQUE-AGUIRRE Omron Building, #40 Buendia Avenue, Brgy.
Fax No. (02) 8526-0158 Fax No. (045) 322-3054
Bacolod City Fax No. (02) 8743-1752 No. 178 Aguirre Avenue, BF Homes, San Isidro, Makati City
Mobile No. 0925 525-7693 (SUN) Mobile No. 0925 525-8527 (SUN)
Tel No. (034) 707-2445, (034) 707-2448 Parañaque City Tel No. (02) 8553-8673
Mobile No. 0922 872-2154 (SUN)
Fax No. (034) 432-9007 Tel No. (02) 8805-6376, (02) 8805-4961 Fax No. (02) 8553-7391
ALABANG ACACIA Fax No. (02) 8805-6376
ANNAPOLIS-GREENHILLS Mobile No. 0925 321-5283 (SUN) BANAWE-MALAYA Mobile No. 0932 891-0463 (SUN)
G/F Kingston Tower, Acacia Avenue, Madrigal Mobile No. 0925 711-0953 (SUN),
G/F Greenhills Mansions, Annapolis Street,
Business Park, Alabang, G/F GLC Building, Banawe Avenue 0917 553-4666 (GLOBE)
Greenhills, San Juan City BACOLOD-NORTH DRIVE BUKIDNON VALENCIA
Muntinlupa City corner Malaya Street, Quezon City
Tel No. (02) 8721-1353, (02) 8721-1463 SBC Building, BS Aquino Drive corner Hilado Sayre Highway, Poblacion, Valencia City,
Tel Nos. (02) 8478-9806, (02) 8807-0949 Tel No. (02) 8711-0379
Mobile No. 0922 872-2045 (SUN) Extension, Bacolod City BF RESORT-LAS PIÑAS Bukidnon
Fax No. (02) 8807-0358 Fax No. (02) 8711-0394
Tel No. (034) 433-9065 No. 21 & 23 BF Resort Drive, Tel No. (088) 828-6709, (088) 828-6710
Mobile No. 0922 872-2032 (SUN) Mobile No. 0932 891-0466 (SUN) BF Resort Village, Las Piñas City
Fax No. (034) 435-0855 Fax No. (088) 828-6710
ANTIPOLO Tel No. (02) 8869-8471, (02) 8869-8478,
Mobile No. 0922 872-2145 (SUN) Mobile No. 0920 907-4846 (SMART),
ALABANG G/F CMDL Building, Circumferential Road, BANAWE-QUEZON AVENUE (02) 8869-8424 0925 711-0955 (SUN)
235 Montillano Street, Alabang, Brgy. San Roque, Antipolo City G/F Kaminari Building, Banawe near corner Fax No. (02) 8869-8478
Muntinlupa City Tel No. (02) 8697-0529, (02) 8571-3229 BAGUIO BGH ROTONDA Quezon Avenue, Quezon City Mobile No. 0925 825-9835 (SUN),
CYA Centrum Building, Military Cut-Off Road, BUTUAN
Tel Nos. (02) 8850-1282, (02) 8842-2227 Fax No. (02) 8697-0529 Tel No. (02) 8354-9847, (02) 8354-3101 0917 515-4503 (GLOBE)
Fax No. (02) 8850-1282 Mobile No. 0998 582-4787 (SMART) Baguio City Fax No. (02) 8354-9847 J.C. Aquino Avenue, Butuan City,
Tel No. (074) 619-0558, (074) 619-0557 Agusan del Norte
Mobile No. 0925 825-9820 (SUN) Mobile No. 0925 825-9825 (SUN) BICUTAN
Fax No. (074) 619-0558 Tel No. (085) 342-5048, (085) 815-5291,
#39 Doña Soledad Avenue, Better Living, (085) 815-5292
ARNAIZ AVENUE Mobile No. 0925 715-2953 (SUN)
ALABANG-INSULAR BANGOY-CHINATOWN Parañaque City
920-922 Pasay Road, Makati City Fax No. (085) 815-5292
G/F Tower II, Insular Life Corporate Center, 2/F Yahu Plaza, Bangoy Street, Davao City Tel No. (02) 8822-1648, (02) 8822-4938
Tel No. (02) 7751-0844, (02) 7751-0161 Mobile No. 0932 845-3443 (SUN)
Insular Life Drive, Filinvest Corporate City, BAGUIO Tel No. (082) 224-5336 Fax No. (02) 8822-4938
Alabang 1781, Muntinlupa City Fax No. (02) 7751-0161 SBC Building, Abanao Street corner Shagem Fax No. (082) 224-5336 Mobile No. 0922 872-2176 (SUN)
Tel Nos. (02) 8511-7411, (02) 8403-0959 Mobile No. 0925 745-9304 (SUN) Street, Baguio City C. PALANCA-QUIAPO
Mobile No. 0925 311-2623 (SUN)
Fax No. (02) 8403-0959 Tel No. (074) 442-8053 302-304 C. Palanca (Echague) corner
BIÑAN P. Gomez Street, Quiapo, Manila
Mobile No. 0932 868-2953 (SUN) Fax No. (074) 442-2671
ASEANA CITY BATANGAS National Highway, Barrio San Vicente, Tel No. (02) 8353-9698
Mobile No. 0922 872-2084 (SUN) Biñan, Laguna
Aseana One Building, Bradco Avenue, Rizal Avenue, Batangas City Fax No. (02) 8353-6105
ALABANG-NORTHGATE Aseana City, Parañaque City Tel No. (043) 723-3143 Tel No. (049) 511-6400, (02) 8520-8236
Mobile No. 0922 872-2014 (SUN)
Indo-China Drive, Northgate Cyberzone Tel No. (02) 8478-0760, (02) 8478-0749 BALANGA Fax No. (02) 8520-8236
Fax No. (043) 723-3143
Filinvest, Alabang, Muntinlupa City Fax No. (02) 8478-0749 Capitol Drive near corner Sampaguita Street, Mobile No. 0922 872-2107 (SUN)
Mobile No. 0917 827-9144 (GLOBE) CABANATUAN
Tel Nos. (02) 8802-0294, (02) 8802-0096 Mobile No. 0932 854-7307 (SUN) San Jose, Balanga City, Bataan
Fax No. (02) 8802-0294 Tel No. (047) 237-0159, (047) 237-0081 Dr. D Building, Del Pilar Street,
BATINO-CALAMBA BINONDO Cabanatuan City, Nueva Ecija
ASEANA SQUARE G/F CitiGold Building, Calamba Premier, #465-469 Ewan Building, Quintin Tel No. (044) 463-7636
Mobile No. 0922 872-2281 (SUN) Paredes Street, Binondo, Manila
Units 3 & 4, Aseana Square Building, Industrial Park Complex, Batino, Fax No. (044) 463-3610
ALICIA Macapagal Boulevard, Aseana City, Calamba, Laguna Tel No. (02) 8244-5202, (02) 8244-5201
Mobile No. 0922 872-2086 (SUN)
National Highway (Maharlika Highway), Parañaque City Tel No. (049) 508-0567 Fax No. (02) 8243-1388
Poblacion, Alicia, Isabela Tel No. (02) 8879-7603, (02) 8814-3954 Fax No. (049) 508-0566 Mobile No. 0922 872-2051 (SUN)
Tel No. (078) 662-8207, (078) 662-8206 Mobile No. 0917 802-0967 (GLOBE) Mobile No. 0922 872-2245 (SUN)
Fax No. (078) 662-8206
Mobile No. 0922 872-2056 (SUN)

directory directory
CABANATUAN-MAHARLIKA CAPITOL HILLS CEBU-A.S. FORTUNA CLARK-ANGELES CUBAO DAVAO-MONTEVERDE

Kilometer 112, Maharlika Highway, Fairway Residences Condominium, Capitol N.S. Building, A.S. Fortuna Street, Banilad, Clark Center Two Building, Berthapil UCKG Building, Araneta Center, Cubao, Quezon Monteverde corner Bruno Gempesaw
Cabanatuan City, Nueva Ecija Hills Drive corner Alpha Road, Capitol Hills, Mandaue City, Cebu Compound III, Clark Center, J. Abad Santos City Streets, Davao City
Tel No. (044) 940-2379, (044) 940-2735 Quezon City Tel No. (032) 344-6283 Avenue, Clark Freeport Zone, Angeles City Tel No. (02) 8911-2879, (02) 8911-2877 Tel No. (082) 224-2966, (082) 224-0298
Fax No. (044) 940-2379 Tel No. (02) 8961-4068 Fax No. (032) 345-0028 Tel No. (045) 499-1247 Fax No. (02) 8911-2877 Fax No. (082) 222-2124
Mobile No. 0932 882-3685 (SUN) Fax No. (02) 8961-4083 Mobile No. 0922 872-2330 (SUN) Fax No. (045) 499-1247 Mobile No. 0922 872-2177 (SUN) Mobile No. 0922 872-2139 (SUN)
Mobile No. 0932 891-0459 (SUN), Mobile No. 0917 534-5830 (GLOBE),
CAGAYAN DE ORO-OSMEÑA 0998 960-0369 (SMART) CEBU-BUSINESS PARK 0922 872-2238 (SUN) DAGUPAN DAVAO-PANABO
Sergio Osmeña Street, Cagayan de Oro City Unit 1,2 & 3, Philam Life Center Cebu, MH Del Pilar, Dagupan City Quezon Street, New Pandan, Panabo City,
Tel No. (08822) 723-411, CARMELRAY 1 Cardinal Rosales Avenue corner Samar CLARK-MEDICAL CITY Tel No. (075) 522-0631, (075) 522-4783 Davao Del Norte
(08822) 728-774 The Junction Strip Mall, Wisdom Avenue Loop, Cebu Business Park, Cebu City 100 Gatwick Gateway, Sabah Al-Ahmad, Fax No. (075) 522-4783 Tel No. (084) 628-4269, (084) 628-5377
Fax No. (088) 853-3965 corner Knowledge Avenue, CarmelTown, Tel No. (032) 238-0409 Global Gateway Logistics City, Industrial Fax No. (084) 628-4272
Mobile No. 0918 906-8385 (SMART),
Canlubang, Calamba, Laguna Fax No. (032) 238-0408 Estate 5, Clark Freeport Zone, Pampanga
Mobile No. 0922 872-2152 (SUN) 0917 844-7968 (GLOBE) Mobile No. 0922 872-2140 (SUN),
Tel No. (049) 523-7450, (049) 523-7451 Mobile No. 0922 872-2136 (SUN) Tel No. (045) 499-5572 0917 876-7659 (GLOBE),
Fax No. (049) 523-7451 Fax No. (045) 499-5570 0998 960-2954 (SMART)
CAGAYAN DE ORO-VELEZ DAGUPAN-LUCAO
Mobile No. 0917 534-0370 (GLOBE), Mobile No. 0925 610-1539 (SUN)
Velez corner Montalban Street, CEBU-DANAO Dagupan-Binmaley Road, Lucao District,
0925 802-9421(SUN) DAVAO-RIZAL
Cagayan De Oro City Princetown Danao, Juan Luna Street, Dagupan City, Pangasinan
Tel No. (088) 856-6632 Danao City, Cebu COMMONWEALTH Tel No. (075) 540-9373, (075) 633-5368 G/F Philam Life Building, Rizal Street, Davao
CARMELRAY 2 Tel No. (032) 260-8031, (032) 261-1013 Lot 10 Block 9 Commonwealth Avenue, City
Fax No. (08822) 728-334 Fax No. (075) 540-9373
Unit 4, Admin. Building, Carmelray Industrial Fax No. (032) 260-8031 Quezon City Tel No. (082) 221-0358
Park II, Calamba, Laguna Tel No. (02) 8932-9749 Fax No. (082) 221-0357
Mobile No. 0925 321-2438 (SUN)
Tel No. (049) 508-9820; Fax No. (02) 8952-0295 Mobile No. 0922 872-2141 (SUN)
CALAMBA (049) 508-9830 DASMARIÑAS
Mobile No. 0922 872-2156 (SUN)
LISPMDC Building, National Highway, Malihan Fax No. (049) 508-9820 CEBU-JUAN LUNA General Emilio Aguinaldo Highway,
Manoto Subdivision, Brgy. Real, Calamba, Plaridel Street corner Osmeña Boulevard, Dasmariñas, Cavite DAVAO-TORIL
Mobile No. 0925 714-7739 (SUN)
Laguna Cebu City CONCEPCION Tel No. (046) 416-1143, (02) 8529-8157 Saavedra Street, Toril, Davao City
Tel No. (049) 508-9174, (049) 508-9175 Tel No. (032) 254-4080, (032) 255-1448 612 JP Rizal Street, Concepcion I, Marikina City Fax No. (02) 8529-8157 Tel No. (082) 285-3724
Fax No. CARMONA Fax No. (032) 253-0053 Tel No. (02) 8941-3043, (02) 8942-2818, Fax No.
(049) 508-9174 Mobile No. 0922 872-2114 (SUN) (082) 285-2166
Mobile No. 0925 715-2954 (SUN) G/F, 88 Building, Governor’s Drive, Maduya, Mobile No. 0922 872-2137 (SUN) (02) 8941-4865, (02) 8533-6502 Mobile No. 0925 610-1545 (SUN),
Carmona, Cavite Fax No. (02) 8941-3043
DASMARIÑAS-FCIE 0920 974-4380 (SMART),
Tel No. (046) 413-6501, (046) 413-6823 Mobile No. 0925 825-9829 (SUN) 0917 876-7814 (GLOBE)
CALAMBA-CROSSING CEBU-MACTAN Governor’s Drive, Dasmariñas, Cavite
Fax No. (046) 413-6823
National Highway, Calamba, Laguna Island Central Mactan IT Complex, Mactan Tel No. (046) 423-3577, (046) 423-3578
Mobile No. 0925 714-6919 (SUN) DEL MONTE
Tel No. (049) 545-2196, (049) 545-1914 Economic Zone, M.L. Quezon National Fax No. (046) 423-3578
CONGRESSIONAL TOWER
Fax No. (02) 8520-8818 Highway, Pusok, Lapu-lapu City, Cebu G/F SBC Building, Lot 19-B Block 344 Del
CATARMAN Congressional Town Center, No. 23 Mobile No. 0925 711-4338 (SUN)
Mobile No. 0922 872-2109 (SUN) Tel No. (032) 234-7812 Monte Avenue, Quezon City
G.H. Del Pilar corner Marcos Streets, Congressional Avenue, Brgy. Bahay Toro,
Fax No. (032) 234-7812 Tel No. (02) 8415-1789, (02) 8740-5985
Catarman, Northern Samar Quezon City DAVAO-BAJADABI
CALAPAN Tel No. (055) 500-9390 Tel No. (02) 8355-3709, (02) 8332-9642 Zone – Phase 2, J. Laurel Avenue, Bajada, Mobile No. 0922 872-2179 (SUN)
G/F H&M Center Building, J.P. Rizal Street, Brgy. Fax No. (055) 251-8841 Fax No. (02) 8332-9642 Davao City
Camilmil, Calapan City,Oriental Mindoro CEBU-OSMEÑA Mobile No. 0932 891-0461 (SUN) Tel No. (082) 221-9359, (082) 224-0743
Mobile No. 0925 525-8532 (SUN) DELA ROSA
Tel No. (043) 288-1713 Osmeña Boulevard, Cebu City Fax No. (082) 224-0743
Fax No. (043) 288-1713 Tel No. (032) 416-8584 G/F King’s Court II Building, #2129 Pasong
CAUAYAN CONGRESSIONAL Mobile No. 0925 525-8531 (SUN)
Fax No. (032) 412-4873 Tamo corner Dela Rosa Street, Makati City
Mobile No. 0917 844-2520 (GLOBE)
G/F LCU Building, Maharlika Highway, Congressional Avenue corner EDSA, Quezon Tel No. (02) 8812-2620, (02) 8811-2913
Mobile No. 0932 868-2954 (SUN)
Cauayan City, Isabela City DAVAO-LANANG Fax No. (02) 8893-2502
Tel No. (078) 652-3950, (078) 652-3949 Tel No. (02) 8927-6720 J.P. Laurel Highway, West Insular Village, Mobile No. 0922 872-2017 (SUN),
CALOOCAN-10TH AVE. CEBU-UPTOWN OSMEÑA Fax No. (02) 8927-9219 Phase 3, Lanang, Davao City
Fax No. (078) 652-3949 0998 960-0377 (SMART)
Rizal Avenue Extension corner 10th Avenue, No. 154 Osmeña Boulevard corner V. Urgello Mobile No. 0922 872-2034 (SUN) Tel No. (082) 234-4350,
Mobile No. 0922 872-2267 (SUN)
Caloocan City Street, Cebu City (082) 234-2463, (082) 296-6381 DIGOS
Tel No. (02) 8930-6458, (02) 8371-5803 Tel No. (032) 414-1052, (032) 414-1050 Fax No. (082) 234-4350 Cor Vicente Sotto Street, National Highway,
CDO-GEORGETOWN CYBERMALL CONNECTICUT-GREENHILLS
Fax No. (02) 8930-6458 Fax No. (032) 414-1050 Mobile No. 0932 853-3816 (SUN) Zone 1, Digos City
Georgetown Cybermall, Rodolfo Pelaez No. 47 Connecticut Street, Northeast
Mobile No. 0925 802-8134 (SUN) Tel No. (082) 237-0204, (082) 237-0517
Boulevard, Kauswagan, Cagayan De Oro Greenhills, San Juan City
Tel No. (088) 323-1647, (088) 323-1654 Tel No. (02) 8570-2926, (02) 8234-0856 DAVAO-MAGSAYSAY Fax No. (082) 237-0204
CALOOCAN-A. MABINI CHINO ROCES AVENUE-DON BOSCO #358 R. Magsaysay Avenue, Davao City Mobile No. 0932 882-3678 (SUN)
Fax No. (088) 323-1647 Fax No. (02) 8570-2926
G/F, One Aster Place, A. Mabini Street, 2224 Chino Roces Avenue corner Don Bosco Tel No. (082) 221-8413, (082) 221-6709,
Mobile No. 0925 825-9828 (SUN) Mobile No. 0932 891-0456 (SUN),
Caloocan City Street, Makati City (082) 221-0164
0998 960-7247 (SMART) DILIMAN-MATALINO
Tel No. (02) 8283-6521, (02) 8283-6523 CDO-LIMKETKAI Tel No. (02) 7621-6146, (02) 7955-7435, Fax No. (082) 221-3443 G/F PM Apartments, No. 24 Matalino Street,
Fax No. (02) 8283-6521 1st Level, East Concourse Annex Building, (02) 8838-4316 Mobile No. 0922 872-2138 (SUN) Brgy. Central, Diliman, Quezon City
Mobile No. 0925 710-8397 (SUN) Fax No. (02) 7621-6146 COTABATO CITY
Limketkai Mall, Cagayan de Oro City Tel No. (02) 7738-6632
Tel No. (088) 880-1258, (088) 880-1260 Mobile No. 0932 882-3681 (SUN) G/F RO-MA Building #020 Sinsuat Avenue,
DAVAO-MATINA IT PARK Fax No. (02) 7738-6631
Poblacion 6, Cotabato City
CAPITOL COMMONS Fax No. (088) 880-1625 G/F Plaza Luisa II, Matina IT Park, McArthur Mobile No. 0925 803-3970 (SUN)
Tel No. (064) 4214349, (064) 4214353
Ground Level GL-21a, Unimart Capitol Mobile No. 0925 525-7325 (SUN) Highway, Matina, Davao City
Commons, Meralco Avenue corner Fax No. (064) 421-4353
Tel No. (082) 227-4644, (082) 227-4650 DIPOLOG
Shaw Boulevard, Brgy. Oranbo, Pasig City Mobile No. 0917-830-6549 (GLOBE)
Mobile No. 0917 833-0081 (GLOBE) 71 Quezon Avenue, Dipolog City
Tel No. (02) 8367-0724, (02) 8367-0760
Tel No. (065) 908-0993
Mobile No. 0919 064-2528 (SMART)
Fax No. (065) 908-0995
Mobile No. 0925 525-7326 (SUN)

directory directory
DIVISORIA 1 EDSA-KALOOKAN FORT BONIFACIO-NET CUBE FPIP-STO. TOMAS GUADALUPE COMMERCIAL COMPLEX ILOILO-LEDESMA
Pasilio A Ledesma Building, #853 Tabora No. 512 EDSA near corner G/F Net Cube Building, 3rd Avenue corner Unit 007, G/F Oasis Commercial Center, Space MF 5A Main Floor, Guadalupe Charly Resources Building, Ledesma corner
Street, Binondo, Manila Urbano Plata Street, Kalookan City 30th Street, E-Square Zone, Fort Bonifacio FPIP - Special Economic Zone, R.S. Diaz Commercial Complex, EDSA Guadalupe, Quezon Streets, Iloilo City
Tel No. (02) 8243-2440, (02) 8243-3104 Tel No. (02) 8364-0049 Global City, Taguig City Avenue, Brgy. Sta. Anastacia, Sto. Tomas, Makati City Tel No. (033) 337-9653
Fax No. (02) 8243-3105 Tel No. (02) 8659-5867 Batangas Tel No. (02) 8882-7162, (02) 8882-7163 Fax No. (033) 337-7068
Fax No. (02) 8363-5525
Mobile No. 0922 872-2166 (SUN) Fax No. (02) 8659-6908 Tel No. (043) 462-7382 Fax No. (02) 8882-7163 Mobile No. 0922 872-2143 (SUN),
Mobile No. 0922 872-2254 (SUN)
Mobile No. 0922 872-2061 (SUN), Mobile No. 0917 578-5957 (GLOBE) Mobile No. 0925 825-9832 (SUN) 0918 906-8336 (SMART)
DIVISORIA-STO. CRISTO 0917 894-4407 (GLOBE)
EDSA-MAGALLANES
#693 Sto. Cristo Street, Binondo, Manila G. ARANETA GUADALUPE IMUS
EDSA corner Magallanes Avenue,
Tel No. (02) 8244-4518, (02) 8244-4517, Brgy. Magallanes, Makati City FORT BONIFACIO-SLMC No. 128 G. Araneta Avenue #2185 Magsaysay Avenue, Guadalupe, G/F LGC Commercial Building, Palico 2,
(02) 8244-4515 Tel No. (02) 8853-0375, (02) 8851-6452 G/F Medical Arts Building, St. Luke’s Medical Brgy. Doña Imelda, Quezon City Makati City Aguinaldo Highway, Imus, Cavite
Fax No. (02) 8244-4517 (02) 8853-7472 Center, Fort Bonifacio Global City, Taguig City Tel No. (02) 8713-0163, (02) 8516-2500 Tel No. (02) 7729-5784, (02) 8882-1868 Tel No. (046) 471-5414, (046) 471-5568,
Mobile No. 0922 872-2167 (SUN), Fax No. (02) 8853-0375 Tel No. (02) 8403-1668 Fax No. (02) 8516-2500 Fax No. (02) 8882-1872 (02) 8529-8613
0917 886-5965 (GLOBE) Mobile No. 0925 825-9831 (SUN) Fax No. (02) 8403-3207 Mobile No. 0932 863-9237 (SUN) Mobile No. 0922 872-2035 (SUN) Fax No. (02) 8529-8613
Mobile No. 0922 872-2252 (SUN) Mobile No. 0918 907-0120 (SMART),
DON ANTONIO HEIGHTS GAMBOA 0917 861-7623 (GLOBE)
ELCANO HERRERA
Unit 2, Lot 4 Block 6, Holy Spirit Drive, Elcano corner San Nicolas Street, Luz Building, 116 Gamboa Street, G/F Exchange corner Building, No. 107 V.A.
Brgy. Holy Spirit, Quezon City Binondo, Manila FORT-FAIRWAYS TOWER Legazpi Village, Makati City Rufino corner Bolanos & Esteban Streets, J. ABAD SANTOS
Tel No. (02) 3427-7413, (02) 3428-1742 Tel No. (02) 8708-5053 G/F Fairways Tower, Mc Kinley corner 5th Tel No. (02) 8366-4092 Legaspi Village, Makati City 1839 J. Abad Santos Street, near Tayuman
Fax No. (02) 3427-7413 Avenue, Bonifacio Global City, Taguig City Fax No. (02) 8800-3910 Tel No. (02) 8892-2190, (02) 8892-3214 Street, Tondo, Manila
Fax No. (02) 8708-5046
Mobile No. 0925 610-1547 (SUN) Tel No. (02) 8551-8996, (02) 8551-9009 Mobile No. 0917 856-5212 (GLOBE) Fax No. (02) 8892-1636 Tel No. (02) 8230-2624, (02) 8708-7864
Mobile No. 0922 872-2205 (SUN)
Fax No. (02) 8551-9009 Mobile No. 0922 872-2026 (SUN) Fax No. (02) 8708-7864
DUMAGUETE Mobile No. 0925 802-8132 (SUN) GENERAL SANTOS NATIONAL HIGHWAY Mobile No. 0925 825-9854 (SUN)
EMERALD
Portal West Building, Silliman Avenue corner G/F The Taipan’s Place, Emerald Avenue, National Highway corner C.M. Recto Street, HV DELA COSTA
Hibbard Avenue, Dumaguete City Ortigas Center, Pasig City FORT-GRAND HAMPTONS II General Santos City, South Cotabato G/F Alpha Salcedo Condominium, 124 JUAN LUNA
Tel No. (035) 422-0001, (035) 422-0002 Tel No. (02) 8470-3104 G/F Grand Hamptons Tower 2, 1st Avenue Tel No. (083) 553-5819, (083) 553-5883 HV Dela Costa Street, Salcedo Village, 514 Juan Luna Street, Binondo, Manila
Fax No. (035) 422-0001 corner 31st Street, Fort Bonifacio Global City, Mobile No. 0917 828-5714 (GLOBE) Brgy. Bel-Air, Makati City Tel No. (02) 8708-0372, (02) 8708-2530
Fax No. (02) 8470-2678
Taguig City Tel No. (02) 8867-2156 Fax No. (02) 8708-0372
Mobile No. 0922 872-2372 (SUN) Mobile No. 0922 872-2208 (SUN), 0922 872-
Tel No. (02) 8835-7560, (02) 8805-7925 Fax No. (02) 8867-3151 Mobile No. 0925 301-7813 (SUN)
2219 (SUN) GENERAL SANTOS
Fax No. (02) 805-7925 Mobile No. 0917 886-5932 (GLOBE),
E. RODRIGUEZ Lot 1341 Ireneo Santiago Boulevard,
Mobile No. 0925 803-3968 (SUN) General Santos City 0998 960-0382 (SMART) KABANKALAN
G/F Unit 6 Athens Tower, The Capital Towers, E. ERMITA
Rodriguez Sr. Avenue, Quezon City UN Avenue, corner Bocobo and Churruca Tel No. (083) 301-8831 Milza Arcade 3, J.Y. Perez Highway, Brgy.
Tel No. (02) 8724-3927, (02) 8724-3259, Streets, Ermita, Manila FORT-NAC TOWER Fax No. (083) 552-2504 ILIGAN Talubangi, Kabankalan City, Negros Occidental
(02) 8705-1111 Tel No. (02) 8523-6567, (02) 8523-6586 Unit 02, G/F NAC Tower Building, 32nd Street, Mobile No. 0922 872-2196 (SUN), Quezon Avenue corner Obach Street, Tel No. (034) 471-0431, (034) 471-0434
Fax No. (02) 8705-1111 Bonifacio Global City, Taguig City 0918 906-8391 (SMART) Poblacion, Iligan City Fax No. (034) 471-0431
Fax No. (02) 8536-9060
Mobile No. 0922 872-2180 (SUN) Tel No. (02) 8847-0490 Tel No. (063) 221-5227 Mobile No. 0998 539-2324 (SMART)
Mobile No. 0922 872-2157 (SUN)
Fax No. (02) 8847-0594 GENERAL TRIAS Fax No. (063) 221-3007
Mobile No. 0932 868-2956 (SUN) G/F Divine Grace Medical Hospital Bypass Mobile No. 0922 872-2150 (SUN)
ESPAÑA BLVD
E. RODRIGUEZ-NEW YORK AVE. Road, Brgy. Tejero, General Trias, Cavite KALENTONG
1880 España Boulevard, Sampaloc, Manila
1791 E. Rodriguez Sr. Avenue, near corner New FORT-PANORAMA Tel No. (046) 434-3033, ILOILO BUSINESS PARK G/F P & D Building, 568-574 New Panaderos
Tel No. (02) 8244-4569 Extension, Mandaluyong City
York Street., Quezon City Panorama Tower 34th Street corner Lane A, (046) 434-3032 BPO Building A, Festival Walk, Iloilo
Fax No. (02) 8255-8362 Tel No. (02) 7239-9727
Tel No. (02) 8942-0783, (02) 8942-0784 Bonifacio Global City, Taguig City Fax No. (046) 434-3032 Business Park, Iloilo City
Fax No. (02) 8942-0783 Tel No. (02) 8772-2674, (02) 8772-2169 Mobile No. 0917 115-9861 (GLOBE) Tel No. (033) 320-3116, (033) 320-2988
Mobile No. 0925 825-9830 (SUN) Fax No. (02) 8772-2169 Fax No. (033) 320-2988 Mobile No. 0925 825-9833 (SUN)
EVANGELISTA-QUIAPO
Mobile No. 0925 714-6923 (SUN) GIL PUYAT Mobile No. 0925 711-4335 (SUN)
450 Evangelista corner P. Paterno Street,
E. RODRIGUEZ-SLMC Quiapo, Manila Unit 101 A, G/F, Oppen Building, No. 349 KALIBO
Units 104 to 107 Medical Arts Building (MAB) FORT-TRIANGLE DRIVE Sen. Gil J. Puyat Avenue, Makati City ILOILO-GENERAL LUNA No. 263 Roxas Avenue, Kalibo, Aklan
Tel No. (02) 8353-2755
St. Luke’s Medical Center, E. Rodriguez Sr. G/F Unit 103, The Brilliance Center, Tel No. (02) 7621-6710, (02) 7621-9169 G/F Insular Life Iloilo Building, Tel No. (036) 500-7662,
Fax No. (02) 8353-6416
Avenue, Quezon City 11th Avenue corner 40th Street, Fax No. (02) 7621-9169 General Luna Street, Brgy. San Felix, (036) 500-7663, (036) 268-3968
Mobile No. 0922 872-2182 (SUN), Bonifacio Global City, Taguig City
Tel No. (02) 8723-0101 loc. 6104, 6105, Mobile No. 0925 610-1540 (SUN), Iloilo City Fax No. (036) 500-7662
0917 886-5957 (GLOBE)
6106, 6107, (02) 8234-1055 Tel No. (02) 8832-1681 0917 876-1811 (GLOBE) Tel No. (033) 503-6686, Mobile No. 0925 321-5282 (SUN)
Fax No. (02) 8234-1055 Fax No. (02) 8832-8849 (033) 503-6685
Mobile No. 0932 891-0454 (SUN) FAIRVIEW-COMMONWEALTH Fax No. (033) 503-6685
Mobile No. 0925 802-9430 (SUN) GRAMERCY
Block 2 Lot 21 Commonwealth Avenue, Mobile No. 0922 872-2006 (SUN) KALOOKAN
G/F Gramercy Residences, Kalayaan Avenue,
Fairview, Quezon City #266 Rizal Avenue Extension, Between 5th
EASTWOOD Makati City
Tel No. (02) 3428-6786, (02) 8294-0417 FORT-W CITY CENTER & 6th Avenue, Grace Park, Kalookan City
Unit LG3-5 to Unit LG3-6, Ground Floor Le Tel No. (02) 8403-7505, (02) 8556-9324 ILOILO-IZNART
Fax No. (02) 8294-0417 G/F-Unit B, W City Center, 7th Avenue Tel No. (02) 8365-8703-06,
Grand 3, E-Commerce Avenue, Eastwood, corner 30th Street, Bonifacio Global City, Fax No. (02) 8403-7505 John A. Tan Building, Iznart Steet, Iloilo City
Mobile No. 0925 610-1544 (SUN) (02) 8294-7402
Quezon City Taguig City Mobile No. 0925 899-7703 (SUN), Tel No. (033) 338-4951
0917 894-4831 (GLOBE) Fax No. (02) 8362-3666
Tel No. (02) 8584-3184 Tel No. (02) 8809-1847, (02) 8809-1884 Fax No. (033) 338-4950
FORT BONIFACIO-INFINITY Mobile No. 0922 872-2047 (SUN)
Fax No. (02) 8584-3183 Mobile No. 0925 710-8398 (SUN) Mobile No. 0922 872-2142 (SUN)
Mobile No. 0922 872-2195 (SUN), G/F The Infinity Tower, 26th Street, Fort GREENHILLS WEST
Bonifacio Global City, Taguig City
0998 960-0355 (SMART) G/F Henrys Building, No. 80 Ortigas Avenue,
Tel No. (02) 8553-0933 Greenhills, San Juan
Fax No. (02) 8553-0936 Tel No. (02) 8234-1076
Mobile No. 0922 884-3986 (SUN), Fax No. (02) 8451-2005
0917 581-7502 (GLOBE)
Mobile No. 0932 891-0465 (SUN)

directory directory
KAMIAS LAPU LAPU MAKATI AVENUE-CONSTELLATION MANDALUYONG MARIKINA-GIL FERNANDO AVENUE MEYCAUAYAN
1418 Kamias Road, corner Anonas Extension, M.L. Quezon National Highway corner Makati Avenue corner Constellation Street, G/F Shaw Center Mall, No. 360 Block 6 Lot 10 Almond Street corner Gil Meycauayan College Building, Calvario,
Brgy. Sikatuna Village, Quezon City Patalinhug Avenue, Pajo, Brgy. Sangi, Brgy. Bel Air, Makati City Shaw Boulevard, Brgy. Addition Hills, Fernando Avenue, Brgy. San Roque, Meycauayan, Bulacan
Tel No. (02) 3434-7716, (02) 3433-3329 Lapu-lapu City, Cebu Tel No. (02) 8942-8708 Mandaluyong City Marikina City Tel No. (044) 913-3258
Fax No. (02) 3434-7716 Tel No. (032) 260-2672 Fax No. (02) 7621-6758 Tel No. (02) 8534-3232, (02) 8531-7381 Tel No. (02) 7625-1807, (02) 7625-7889 Fax No. (044) 913-3329
Mobile No. 0925 825-9834 (SUN) Fax No. (032) 260-2671 Mobile No. 0932 891-0457 (SUN) Fax No. (02) 8531-7381 Fax No. (02) 7625-7889 Mobile No. 0922 872-2098 (SUN),
Mobile No. 0932 863-9240 (SUN) Mobile No. 0922 872-2188 (SUN) Mobile No. 0932 868-2957 (SUN) 0917 562-7743 (GLOBE)
KARUHATAN MAKATI AVENUE-ZUELLIG
G/F PRDC Building, 257 Mac Arthur Highway, LEGAZPI Unit 2, G/F, Zuellig Building, Makati Avenue MANDALUYONG-EDSA MARKET! MARKET! MINDANAO AVENUE
Karuhatan, Valenzuela City Lot 34-36 Block 7, Landco Business Park, corner Paseo de Roxas, Makati City 167 Epifanio Delos Santos Avenue, 157-A G/F, Market! Market! Mall, Bonifacio G/F Metro North Medical Center and
Tel No. (02) 7239-2069, (02) 8352-7869 Bitano, Legazpi City Tel No. (02) 8805-8355 Mandaluyong City Global City, Taguig City Hospital, Mindanao Avenue near corner
Fax No. (02) 8352-7869 Tel Nos. (052) 480-3081, (052) 480-6014 Fax No. (02) 8824-5991 Tel No. (02) 7625-6825, (02) 7625-6829 Tel No. (02) 8886-6685, Congressional Avenue, Quezon City
Mobile No. 0932 863-9243 (SUN) Fax No. (052) 480-6014 Mobile No. 0917 804-7919 (GLOBE), Fax No. (02) 7625-6825 (02) 8846-6413, (02) 8856-1545 Tel No. (02) 8351-4262
Mobile No. 0932 868-2955 (SUN), 0925 878-9122 (SUN) Mobile No. 0932 868-2958 (SUN), Fax No. (02) 8846-6413 Fax No. (02) 8351-4262
0917 535-1495 (GLOBE) 0917 801-4305 (GLOBE) Mobile No. 0922 872-2190 (SUN) Mobile No. 0925 803-3972 (SUN)
KATIPUNAN
G/F Xanland Condominium Building, MALABON
LEMERY
Katipunan Avenue, Quezon City #2 Manapat Street corner Rizal Avenue MANDALUYONG-GREENFIELD MAYPAJO MOLINO
G/F, Sola Grande Center, Ilustre Avenue, Extension, Malabon City
Tel No. (02) 8426-7036, (02) 8426-7034 Units 7 and 8 Level 1, Soho Central, Shaw APN Building., #172 A. Mabini Street, Maypajo, G/F E.V.Y Building Molino Boulevard, Molino,
Palanas, Lemery, Batangas
Fax No. (02) 8426-7036 Tel No. (02) 8281-2880 Boulevard, Greenfield District, Mandaluyong Caloocan City Bacoor, Cavite
Tel No. (043) 740-7401 City
Mobile No. 0922 872-2158 (SUN) Fax No. (02) 8281-5903 Tel No. (02) 8285-6249 Tel No. (046) 477-2449, (046) 477-2166
Fax No. (043) 740-7401 Tel No. (02) 8661-5646, (02) 8696-6864
Mobile No. 0922 872-2185 (SUN) Fax No. (02) 8285-9065 Fax No. (046) 477-2166
KEYLAND VALERO Mobile No. 0922 872-2191 (SUN) Mobile No. 0922 884-3957 (SUN)
MALABON-POTRERO Mobile No. 0922 872-2044 (SUN),
G/F Keyland Valero Building, 114 Valero LIMA 0998 960-0358 (SMART)
Street, Legazpi Village, Makati City Units 8 & 9 G/F Mary Grace Building, 142 MCKINLEY HILL MONTALBAN
The Outlet at Lipa, Lima Technology Center, Mc Arthur Highway, Potrero, Malabon City
Tel No. (02) 8867-6788 G/F Commerce and Industry Plaza, J.P. Rizal Avenue, Manggahan, Montalban, Rizal
Brgy. Bugtong na Pulo, Lipa City, Batangas MANDALUYONG-LIBERTAD
local 7811 to 7812 Tel No. (02) 8442-3757, (02) 8442-3657 McKinley Hill Tel No. (02) 8997-1657, (02) 8941-4864
Mobile No. 0917 829-9276 (GLOBE), D.M. Guevarra Street corner Calbayog Street,
Fax No. (02) 8551-0979 Fax No. (02) 8442-3657 Tel No. (02) 7795-7451, (02) 7795-7450 Fax No. (02) 8941-4864
0917 806-6531 (GLOBE), Mandaluyong City
Mobile No. 0917 804-7538 (GLOBE) 0917 512-3665 (GLOBE) Mobile No. 0925 825-9836 (SUN) Fax No. (02) 7795-7450 Mobile No. 0925 825-9838 (SUN)
Tel No. (02) 8650-1576 Mobile No. 0925 899-7700 (SUN)
Fax No. (02) 7949-5720
KORONADAL LIPA MEDIX HOSPITAL MALABON-TUGATOG
Mobile No. 0925 525-7321(SUN) MEDICAL CITY MORGAN SUITES-MCKINLEY
Hotel Eighty-Eight, G/F, General Santos Drive, G/F Old MAB, Lipa Medix Hospital, 137 M.H Del Pilar Street, Brgy. Tugatog,
Koronadal City, South Cotabato National Highway, Lipa City, Batangas Malabon City G/F Medical Arts Tower Inc., The New Medical G/F Morgan Suites Executive Residences,
Tel No. (02) 8990-9653 MANDALUYONG-PIONEER City Hospital along Ortigas Avenue, Meralco Florence Way, McKinley Hill, Bonifacio Global
Tel No. (083) 228-7736, (083) 520-2115 Tel No. (043) 740-8414
Fax No. (02) 8990-3225 G/F Madison Square Plaza, Pioneer corner Compound, Ortigas Avenue, Pasig City City, Taguig City
Fax No. (083) 228-7736 Fax No. (043) 740-8414
Mobile No. 0932 848-0042 (SUN) Sheridan Streets, Mandaluyong City Tel No. (02) 8706-0445 Tel No. (02) 9946-3709, (02) 9958-5164
Mobile No. 0922 884-3972 (SUN) Mobile No. 0917 886-6065 (GLOBE)
Tel No. (02) 8234-0960 Fax No. (02) 8706-0276 Fax No. (02) 9946-3709
MALATE Fax No. (02) 8234-1114 Mobile No. 0932 863-9235 (SUN) Mobile No. 0925 714-6918 (SUN)
LA TRINIDAD LIPA
M. Adriatico corner San Andres Street, Mobile No. 0932 863-9241 (SUN)
Brgy. Pico, Km. 5 National Highway, CM Recto Avenue, Lipa City, Batangas
La Trinidad, Benguet Malate, Manila NAGA DIVERSION ROAD
Tel No. (02) 8520-6234 MEDICAL PLAZA
Tel No. (074) 422-1216, (074) 422-1586 Tel No. (02) 8524-8112, (02) 8567-6258 MANDAUE M. Roxas Avenue (Diversion Road), Naga City,
Fax No. (043) 756-2113 G-103 Medical Plaza Building, Dela Rosa Camarines Sur
Fax No. (074) 422-1586 Fax No. (02) 8521-0745 Tipolo Square, Mandaue Highway, Tipolo
Mobile No. 0922 872-2131 (SUN) Mandaue City, Cebu corner Amorsolo Street, Makati City Tel No. (054) 472-1022, (054) 881-1071
Tel No. (032) 345-0564 Tel No. (02) 8813-6536, (02) 8813-6549 Fax No. (054) 472-1022, (054) 881-1071
LUCENA Fax No. (032) 345-2582 Fax No. (02) 8813-6544 Mobile No. 0917 500-1580 (GLOBE)
LA UNION MALAYAN PLAZA
Doña Cristina Building, cornerTagarao & Mobile No. 0922 872-2197 (SUN) Mobile No. 0922 872-2028 (SUN)
G/F Kenny Plaza, Quezon Avenue, Unit G2, Ground Floor, Malayan Plaza
Merchan Streets, Lucena City
San Fernando City, La Union Building, ADB Avenue corner Opal Road, NAGA
Tel No. (02) 8250-8266 Ortigas Center, Pasig City
Tel No. (072) 607-8802 MANDAUE-NORTH ROAD MENDIOLA LAM Building, Peñafrancia Avenue, Zone 4,
Fax No. (02) 8250-8266 Tel No. (02) 8285-1754, (02) 8255-7317 San Francisco, Naga City
Fax No. (072) 700-5338 31 J.P Rizal Street Insular Square, Brgy. Tabok, La Consolacion College Manila, No. 8
Mobile No. 0918 906-8449 (SMART) Mobile No. 0917 650-3415 (GLOBE) Mandaue City Mendiola Street, San Miguel, Manila Tel No. (02) 8250-8008
Mobile No. 0922 872-2090 (SUN)
Tel No. (032) 520-9065, (032) 520-9066 Tel No. (02) 8734-7507 Fax No. (02) 8250-8008
MAGDALENA MALINTA-PASO DE BLAS Fax No. (032) 520-9065 Fax No. (02) 8735-2746 Mobile No. 0922 872-2099 (SUN),
LAGRO #1025-1027 Masangkay Street near #271 Paso de Blas, Valenzuela City Mobile No. 0922 872-2329 (SUN) Mobile No. 0922 872-2160 (SUN) 0918 906-8387 (SMART),
Km. 21 Quirino Highway, Lagro, Quezon City Soler Street, Binondo, Manila 0917 556-6920 (GLOBE)
Tel No. (02) 8376-3095 Tel No. (02) 8292-5804
Tel No. (02) 8243-4822, (02) 8244-5743
Fax No. (02) 8292-6133 MARIKINA MERALCO AVENUE
Fax No. (02) 8376-3115 Fax No. (02) 8244-5744 NAIA TERMINAL 3
Mobile No. 0922 872-2187 (SUN) Bayan-Bayanan Avenue, Concepcion, G/F Suntree Tower, No. 13 Meralco Avenue,
Mobile No. 0932 853-3812 (SUN) Mobile No. 0922 872-2159 (SUN) Stall No. 15, Arrival Lobby of Terminal 3, Ninoy
Marikina City Ortigas Center, Pasig City
Tel No. (02) 8942-2565, (02) 8942-0423, Tel No. (02) 8570-6101 Aquino International Airport, Pasay City
MALOLOS
LAOAG MAIN OFFICE BRANCH (MOB) (02) 8941-8689 Fax No. (02) 8570-3836 Tel No. (02) 8834-9836, (02) 8834-9835
Feliza Jazz Building, Mac Arthur Highway,
G/F LC Square, J.P. Rizal Street corner 6776 Ayala Avenue, Makati City Fax No. (02) 8941-0689 Mobile No. 0922 872-2165 (SUN), Fax No. (02) 8834-9835
Sumapang Matanda, Malolos City, Bulacan
Balintawak, Laoag City Tel No. (02) 8888-7281 to 7285, Mobile No. 0922 872-2189 (SUN) 0917 509-3011 (GLOBE) Mobile No. 0922 872-2268 (SUN)
Tel No. (044) 796-1982
Tel No. (077) 770-3311, (077) 770-3200 (02) 8891-1033, (02) 8867-6788
Fax No. (044) 796-1983
Fax No. (077) 770-3200 local 8101 to 8107,
(02) 8891-1079 Mobile No. 0922 872-2095 (SUN)
Mobile No. 0922 872-2302 (SUN)
Fax No. (02) 8891-1078
Mobile No. 0922 872-2067 (SUN),
0917 886-5933 (GLOBE),
0998 960-0380 (SMART)

directory directory
NAIA ONGPIN PASEO DE ROXAS PORT ROYAL-RADA RETIRO SAN FERNANDO-DOLORES

2/F Arrival Lobby, NAIA Complex, Pasay City G/F Strata Gold, 738 Ongpin Street, Corporate Business Center, #151 Paseo de Ground Floor, Port Royal Place, 118 Rada N.S. Amoranto, Sr. Avenue corner Mayon Amhsco Building, Mac Arthur Highway
Tel No. (02) 8833-1190 Binondo, Manila Roxas corner Arnaiz Avenue, Makati City Street, Legaspi Village, Makati City Avenue, La Loma, Quezon City Dolores San Fernando City, Pampanga
Fax No. (02) 8833-1191 Tel No. (02) 8450-4109, (02) 8256-6105 Tel No. (02) 8840-1970, Fax No. (02) 8281-3104, (02) 8366-0309 Tel No. (02) 8412-4206, (02) 8501-2790 Tel No. (045) 435-2206, (045) 435-2242
Mobile No. 0922 872-2036 (SUN), Fax No. (02) 8256-6105 (02) 8815-1002 to 1003 Mobile No. 0919 064-2529 (SMART) Fax No. (02) 8412-4206 Fax No. (045) 435-2242
0917 886-5942 (GLOBE) Mobile No. 0925 803-3976 (SUN) Fax No. (02) 8840-1969 Mobile No. 0925 825-9846 (SUN) Mobile No. 0925 825-9848 (SUN)
Mobile No. 0922 872-2030 (SUN) PROMENADE-GREENHILLS
ORMOC Unit No. 107 Ground Floor, Greenhills ROMAN SQUARE SAN FERNANDO-SINDALAN
NAVOTAS G/F Niko’s Ark Building. Real Street, Poblacion, PASIG BOULEVARD Promenade 3, Greenhills Shopping Center, Roman Square Building, #979-981 Soler MC Square Plaza, McArthur Highway,
318 North Bay Boulevard, South, Navotas City Ormoc City, Leyte Lot #21 Pasig Boulevard corner Rosemarie San Juan City corner Roman Street, Binondo, Manila Sindalan, San Fernando City, Pampanga
Tel No. (02) 8373-2749 Tel No. (053) 255-4118, (053) 561-0369 Lane, Kapitolyo, Pasig City Tel No. (02) 8286-8949, (02) 8241-2980 Tel No. (02) 8244-1395, (02) 8244-1396 Tel No. (045) 402-3142, (045) 402-3189
Fax No. (02) 8373-2751 Fax No. (053) 561-0369 Tel No. (02) 8234-0155 Mobile No. 0917 860-2754 (GLOBE), Fax No. (02) 8244-3734 Fax No. (045) 402-3142
Mobile No. 0925 301-7812 (SUN) Mobile No. 0922 886-6759 (SUN) Fax No. (02) 8234-0159 0998 960-7244 (SMART), Mobile No. 0922 872-2048 (SUN) Mobile No. 0917 578-9737 (GLOBE),
Mobile No. 0922 872-2055 (SUN) 0925 803-3974 (SUN) 0925 711-4339 (SUN)
ORTIGAS-GREENHILLS ROOSEVELT
NIEVA PASIG C. RAYMUNDO PUERTO PRINCESA SAN FRANCISCO-AGUSAN DEL SUR
SBC Building, #228 Ortigas Avenue, 182-A Roosevelt Avenue, San Francisco
G1 & G2 Asian Mansion 2, Dela Rosa corner Greenhills, San Juan The Quorum Center, C. Raymundo Avenue, Rizal Avenue, Puerto Princesa City, Palawan Del Monte, Quezon City Quezon Street, Brgy. Dos, San Francisco,
Nieva Street, Legaspi Village, Makati City Tel No. (02) 8721-4148, (02) 8721-1967, Caniogan, Pasig City Tel No. (048) 433-0052 Tel No. (02) 8921-2741, (02) 8921-2750 Agusan del Sur
Tel No. (02) 8843-6537 (02) 8631-9542 Tel No. (02) 8654-1273 Fax No. (048) 433-0053 Fax No. (02) 8921-2750 Tel No. (085) 839-5800, (085) 242-0024
Fax No. (02) 8843-6322 Fax No. (02) 8721-1967 Fax No. (02) 8654-2611 Mobile No. 0932 854-7301 (SUN) Mobile No. 0932 851-8481 (SUN) Fax No. (085) 839-5800
Mobile No. 0922 872-2029 (SUN) Mobile No. 0922 872-2038 (SUN) Mobile No. 0932 851-8479 (SUN) Mobile No. 0925 301-7811 (SUN),
QUEZON AVE.-CAPITOL MEDICAL ROSARIO 0917 875-9219 (GLOBE)
NINOY AQUINO AVENUE OZAMIZ PASIG MABINI G/F Capitol Medical Center, Quezon Avenue G/F SBC Building, General Trias Avenue,
G/F PAIR-PAGS Centre, NAIA Complex, Capistrano Street, Ozamiz City, 7200 Misamis Mabini corner Dr. Pilapil Street, Kapasigan, corner Scout Magbanua, Quezon City Tejero, Rosario, Cavite SAN JOSE-NUEVA ECIJA
Ninoy Aquino Avenue, Parañaque City Occidental Pasig City Tel No. (02) 8441-4729, (02) 8441-4728 Tel No. (046) 438-5434 SBC Building, Maharlika Highway, Brgy. F.E.
Tel No. (02) 8832-1286, (02) 8832-9463 Tel No. (088) 545-3437, (088) 319-0843 Tel No. (02) 8451-0465 Fax No. (02) 8441-4728 Fax No. (02) 8529-8854 Marcos, San Jose City, Nueva Ecija
Fax No. (02) 8836-7370 Fax No. (088) 319-0843 Fax No. (02) 8451-0413 Mobile No. 0922 872-2206 (SUN) Mobile No. 0922 872-2085 (SUN) Tel No. (044) 958-3199
Mobile No. 0922 872-2037 (SUN) Mobile No. 0922 812-3748 (SUN) Mobile No. 0932 853-3811 (SUN) Fax No. (044) 958-3199
QUEZON AVENUE-SOUTH TRIANGLE Mobile No. 0917 169-2420 (GLOBE)
ROXAS BOULEVARD
NOVALICHES-BAYAN P. GUEVARRA-WILSON PASIG SANTOLAN Unit B and C JR Building, 1520 Quezon Unit 103 VIP Building, Roxas Boulevard
897 Quirino Highway, Brgy. Gulod, #5 P. Guevarra Street corner Averilla Steet, G/F Unit 101-A AD Center Square, Amang Avenue, South Triangle, Quezon City corner Nuestra Señora de Guia Street, SAN JUAN-F. BLUMENTRITT
Novaliches, Quezon City San Juan Rodriguez corner Evangelista Street, Tel No. (02) 3410-8891, (02) 3410-9687 Ermita, Manila One Roxas Square Building, F. Roxas corner
Tel No. (02) 8936-4491, (02) 8939-7298 Tel No. (02) 8570-3766, (02) 8570-3774 Santolan, Pasig City Fax No. (02) 3410-8891 Tel No. (02) 8405-0262 F. Blumentritt, San Juan City
Fax No. (02) 8936-4491 Fax No. (02) 8570-3766 Tel No. (02) 8681-4618 Mobile No. 0925 525-8529 (SUN) Fax No. (02) 8405-0150 Tel No. (02) 8634-1052, (02) 8634-2224
Mobile No. 0925 825-9839 (SUN) Mobile No. 0932 882-3686 (SUN) Fax No. (02) 8646-4113 Mobile No. 0932 891-0455 (SUN) Fax No. (02) 8631-1052
Mobile No. 0922 872-2175 (SUN) QUIRINO HIGHWAY Mobile No. 0925 714-7737 (SUN)
NUVO CITY ASPIRE PAGADIAN #360 Quirino Highway, Sangandaan, ROXAS CITY
G/F Aspire Tower at Nuvo City, 150 E. Rizal Avenue corner Benigno Aquino Street, PASIG-MERCEDES AVENUE Novaliches, Quezon City Lawaan Highway corner Sacred Heart of SAN LORENZO PLACE
Rodriguez Jr. Avenue corner Calle Industria, Pagadian City Mercedes Avenue corner M. Suarez Avenue Tel No. (02) 3454-0981 Jesus Street, Pueblo de Panay, Lawaan, Second Floor, B31-B32 San Lorenzo Place
Bagumbayan, Quezon City Tel No. (062) 925-0563, (062) 215-4709 (Market Avenue), Brgy. San Miguel, Pasig City Fax No. (02) 8939-1262 Roxas City Mall, Makati City
Tel No. (02) 8294-9881, (02) 8292-3432 Fax No. (062) 925-0563 Tel No. (02) 8628-3437, (02) 8628-2952 Mobile No. 0922 872-2041 (SUN) Tel No. (036) 520-3001, (036) 520-3002 Tel No. (02) 8290-0326, (02) 8293-0618
Fax No. (02) 8292-3432 Mobile No. 0925 802-9422 (SUN) Fax No. (02) 8628-1496 Fax No. (036) 520-3001 Mobile No. 0917 876-8060 (GLOBE)
Mobile No. 0925 899-7701(SUN) Mobile No. 0925 825-9842 (SUN) REGALADO FAIRVIEW Mobile No. 0932 854-7299 (SUN)
PANDACAN Angelus Building, 22 Regalado Avenue, SAN MIGUEL AVENUE
OLONGAPO #2339 Palumpong Street, Pandacan, Manila West Fairview, Quezon City SALCEDO #101 Medico Building, San Miguel corner
Unit No. 2, G/F RM Centrepoint Building, Tel No. (02) 8564-4891 PASIG-SHAW BOULEVARD Tel No. (02) 8373-4439, (02) 8373-4347 LPL Plaza Building, #124 L.P. Leviste Street, Lourdes Street, Pasig City
Rizal Avenue corner Magsaysay Drive, East Fax No. (02) 8563-3391 Freemont Arcade No. 11 Shaw Boulevard, Fax No. (02) 8373-4347 Salcedo Village, Makati City Tel No. (02) 8633-3876, (02) 8633-6822
Tapinac, Olongapo City Brgy. San Antonio, Pasig City Mobile No. 0925-8259845 (SUN) Tel No. (02) 8840-3242, (02) 8840-3720 Fax No. (02) 8631-3876
Mobile No. 0922 872-2193 (SUN)
Tel No. (047) 222-2275, (047) 224-2275 Tel No. (02) 7955-5690 Fax No. (02) 8812-4045 Mobile No. 0922 872-2209 (SUN)
Fax No. (047) 222-0608 Fax No. (02) 7955-5708 REINA REGENTE Mobile No. 0922 872-2031 (SUN)
PASAY LIBERTAD
Mobile No. 0932 891-0462 (SUN), Mobile No. 0932 882-3674 (SUN) #1040 Reina Regente, Binondo, Manila SAN PABLO
Libertad corner Colayco Streets, Pasay City
0917 323-5056 (GLOBE) SAMPALOC Rizal Avenue corner P. Zamora Streets,
Tel No. (02) 8831-0471 Tel No. (02) 8244-8827, (02) 8244-8850
PASONG TAMO Fax No. (02) 8244-8825 1700 G. Tuazon Street corner M. Dela San Pablo, Laguna
Fax No. (02) 8831-8163
ONE MALL VALENZUELA G/F Narra Building, Pasong Tamo Extension, Mobile No. 0922 872-2207 (SUN) Fuente Street, Sampaloc, Manila Tel No. (049) 562-5327
Mobile No. 0922 872-2194 (SUN)
6008 Gen. T. De Leon Street, Brgy. Gen T. De Makati City Tel No. (02) 8781-3112, (02) 8781-3116 Fax No. (02) 8520-6052
Leon, Valenzuela City Tel No. (02) 8892-8535, (02) 8814-0267 Fax No. (02) 8781-3113 Mobile No. 0922 872-2091 (SUN)
PASAY-TAFT REPOSO-J.P. RIZAL
Tel No. (02) 8930-2540 Fax No. (02) 8892-8536 Mobile No. 0925 825-9847 (SUN)
No. 1924 Taft Avenue corner Bernabe Streets, G/F Kalimera Building, Nicanor Garcia Street
Fax No. (02) 8930-3277 Mobile No. 0922 872-2040 (SUN) SAN PEDRO
Pasay City near cor. J.P. Rizal Avenue, Makati City
Mobile No. 0917 518-8956 (GLOBE), SAN FERNANDO Mabini Street, Poblacion, San Pedro, Laguna
Tel No. (02) 8516-4067, (02) 8516-4587 Tel No. (02) 8942-8907
0998 969-2154 (SMART) PLARIDEL
Fax No. (02) 8516-4067 Fax No. (02) 8942-8914 G/F Doña Sevilla Building, McArthur Tel No. (02) 8808-4811
No. 263 Gov. Padilla Avenue, Banga 1st, Mobile No. 0932 863-9242 (SUN) Highway, Brgy. Dolores, San Fernando City, Fax No. (02) 8520-1296
Mobile No. 0932 863-9238 (SUN) Plaridel, Bulacan Pampanga Mobile No. 0922 872-2092 (SUN)
Tel No. (044) 795-0458, (044) 795-0468 Tel No. (045) 961-8692
Fax No. (044) 795-0458 Fax No. (045) 961-8693
Mobile No. 0925 825-9844 (SUN), Mobile No. 0922 872-2087 (SUN)
0917 512-6929 (GLOBE)

directory directory
SAN PEDRO-PACITA COMPLEX STA. ELENA SUCAT-AMAIA STEPS TAGBILARAN TIMOG AVENUE VALLE VERDE
G/F Allen Building, Km.31 National Highway, 168 Shopping Mall, Sta. Elena Street, R106 & 107, Upper G/F, Blanca Building, BMN Building. Carlos P. Garcia Avenue, Toyama Group Center, 22 Timog Avenue, E. Rodriguez Jr. Avenue corner Borres Street,
Brgy. Nueva, San Pedro, Laguna Binondo, Manila Amaia Steps Sucat, Dr. A. Santos Avenue, Tagbilaran City, Bohol Brgy. Laging Handa, Quezon City Brgy. Bagong Ilog, Pasig City
Tel No. (02) 8847-6832, (02) 8847-6833, Tel No. (02) 8245-5506, (02) 8245-5509 Brgy. San Antonio, Sucat, Parañaque Tel No. (038) 501-0174, (038) 411-2930 Tel No. (02) 8376-4398, (02) 8376-7186 Tel No. (02) 8671-7135
(02) 8808-3274 Fax No. (02) 8243-5678 Tel No. (02) 8826-6667, (02) 8825-6067, Fax No. (038) 501-0174 Fax No. (02) 8376-7186 Fax No. (02) 8671-7134
Fax No. (02) 8808-3274 Mobile No. 0922 872-2212 (SUN) (02) 8826-6584 Mobile No. 0922 872-2148 (SUN) Mobile No. 0925 802-9428 (SUN) Mobile No. 0922 872-2216 (SUN)
Mobile No. 0925 825-9852 (SUN),
STA. MARIA-BULACAN TAGUM TOMAS MORATO VICTORIAS
SANTIAGO 0917 839-3034 (GLOBE)
F. Halili Avenue, Brgy. Bagbaguin, G/F Uy Ching Siong Commercial Building, G/F Maine Building, Tomas Morato Avenue, VICMICO PMC Building, Osmeña Highway,
G/F Flora Sy Building, Maharlika Highway, Sta. Maria, Bulacan Pioneer Avenue corner Quezon Street, Quezon City Victorias City, Negros Occidental
Victory Norte, Santiago City, Isabela SUMULONG Tagum City
Tel No. (044) 641-4279 Tel No. (02) 8426-2866, (02) 8441-6379, Tel No. (034) 717-8358
Tel No. (078) 305-0383 G/F Silicon Building, #167 Sumulong Tel No. (084) 308-0206
Fax No. (044) 641-1718 (02) 8415-2556 Fax No. (034) 717-8364
Highway, Mayamot, Antipolo City, Rizal
Fax No. (078) 305-2908, (02) 8246-2001 Mobile No. 0922 872-2368 (SUN) Fax No. (084) 655-6562 Fax No. (02) 8415-2556 Mobile No. 0925 714-7735 (SUN)
Tel No. (02) 8682-3011
Mobile No. 0922 872-2093 (SUN), Mobile No. 0922 872-2016 (SUN) Mobile No. 0922 872-2162 (SUN)
0917 578-9708 (GLOBE), Fax No. (02) 8682-3017
STA. ROSA Mobile No. 0922 872-2214 (SUN) VIGAN
0918 906-8426 (SMART) TANDANG SORA
Bo. Pulong, Sta. Cruz, Sta. Rosa, Laguna TORDESILLAS G/F Luisa Building, Quezon Avenue corner
Tel No. (049) 539-1562 400 Tandang Sora Avenue, Brgy. Culiat, Unit 104-B, Three Salcedo Condominium, Brgy. Salcedo Street, Vigan City, Ilocos Sur
SECURITY BANK LOUNGE SURIGAO Quezon City
Fax No. (02) 8520-8164 Bel-Air, Makati City Tel No. (077) 674-0103, (077) 674-0249
17th Floor Medical Arts Tower Don Eugenio San Nicolas corner Diez Streets, Tel No. (02) 8455-2769, (02) 8456-1350
Mobile No. 0922 872-2096 (SUN) Tel No. (02) 8291-3315, (02) 8290-1997 Fax No. (077) 674-0249
Lopez Sr., Medical Complex, Ortigas Avenue, Surigao City
Fax No. (02) 8455-2769 Mobile No. 0919 064-2530 (SMART) Mobile No. 0925 301-7816 (SUN)
Brgy. Ugong, Pasig City Tel No. (086) 826-1020
STA. ROSA-BALIBAGO Mobile No. 0925 825-9822 (SUN)
Tel No. (02) 8637-4151 Fax No. (086) 310-0164
National Highway, Brgy. Balibago, Mobile No. 0925 301-7815 (SUN) TUGUEGARAO BUNTUN-HIGHWAY VISAYAS AVENUE-PROJECT
Sta. Rosa City, Laguna TARLAC Pulsar Commercial Complex Plaza, Buntun No. 53 Visayas Avenue, Brgy. Vasra, Project 6,
SHANGRI-LA PLAZA EAST WING G/F Intellect Building, McArthur Highway, Highway, Tuguegarao City, Cagayan
Tel No. (049) 534-2933, (049) 534-2934 Quezon City
Unit 1001B, Lower Ground Level, East Wing, TACLOBAN RIZAL Brgy. San Sebastian, Tarlac City
Fax No. (049) 534-2933 Tel No. (078) 375-4107, (078) 375-4108 Tel No. (02) 8921-6664, (02) 8921-6702
Shangri-La Plaza Mall, EDSA corner Shaw G/F Roqson Building, corner P. Burgos Tel No. (045) 628-0147
Mobile No. 0925 825-9851 (SUN) Fax No. (078) 375-4108 Fax No. (02) 8921-6664
Boulevard, Mandaluyong Street and Rizal Avenue, Tacloban City
Fax No. (045) 628-0396 Mobile No. 0925 714-6920 (SUN), Mobile No. 0925 525-8528 (SUN)
Tel No. (02) 8247-7498, (02) 8247-7506 Tel No. (053) 321-4527
Mobile No. 0922 872-2094 (SUN) 0917 652-1753 (GLOBE)
Mobile No. 09178295717 (GLOBE) STA. ROSA-GREENFIELD Fax No. (053) 321-4527
G/F Unit 33 and 34, Laguna Central Mall, Mobile No. 0917 830-2923 (GLOBE) WACK WACK
Greenfield City, Don Jose, Sta. Rosa City, TARLAC-TAÑEDO TUGUEGARAO G/F Lee Gardens Condominium corner
SILVER CITY
Laguna Tañedo corner Zafiro Street, San Nicolas, A. Bonifacio corner Washington Streets, Shaw Boulevard and Lee Street, Wack Wack,
G/F Silver City, Tiendesitas Complex Ortigas TACLOBAN-VETERANOS Tarlac City Centro, Tuguegarao City, Cagayan
Tel No. (049) 530-9536 Mandaluyong City
East, Brgy. Ugong, Pasig City G/F Insular Life Building, Avenida Veteranos,
Fax No. (049) 530-9537 Tel No. (045) 923-0512 Tel No. (078) 844-2320, (078) 844-1016 Tel No. (02) 8584-2153
Tel No. (02) 8584-7584, (02) 8584-7585 Tacloban City
Mobile No. 0925 525-7697 (SUN) Fax No. (045) 923-0506 Fax No. (078) 844-8753 Fax No. (02) 8584-2109
Fax No. (02) 8584-7585 Tel No. (053) 832-2699, (053) 523-2067
Mobile No. 0925 711-0949 (SUN) Mobile No. 0922 872-2149 (SUN), Mobile No. 0922 872-2181 (SUN)
Mobile No. 0925 825-9840 (SUN) Fax No. (053) 523-2067 0918 906-8390 (SMART)
STARMALL LAS PIÑAS Mobile No. 0925 714-7736 (SUN)
G/F Starmall Complex, C.V Starr Avenue TAYTAY WEST AVENUE
SOLANO U.N. AVENUE
Philamlife Village Pamplona II, Las Piñas City 137 Rizal Avenue, Brgy. Dolores, Taytay, Rizal 4 Bulletin Street corner West Avenue, Quezon
Benigno Aquino Avenue, Poblacion South, TACURONG Units 1110 & 1112 Dolmar Building, U.N.
Tel No. (02) 8846-5351 Tel No. (02) 8658-7225, (02) 8660-2878 City
Solano, Nueva Vizcaya HWG Building, along Alunan Highway, Avenue, Paco, Manila
Fax No. (02) 8846-5344 Fax No. (02) 8660-8425 Tel No. (02) 3412-4027, (02) 7949-2570
Tel No. (078) 321-0158, (078) 321-0171 Tacurong City, Sultan Kudarat Tel No. (02) 8525-9208, (02) 8522-4013,
Mobile No. 0922 872-2184 (SUN), Mobile No. 0925 825-9855 (SUN) Fax No. (02) 7949-2570
Fax No. (078) 321-0171 Tel No. (064) 562-0541, (064) 477-1114 (02) 8527-2075
0920 977-9765 (SMART) Mobile No. 0925 525-7694 (SUN)
Mobile No. 0925 711-4340 (SUN), Fax No. (064) 562-0541 Fax No. (02) 8525-9208
0917 620-4144 (GLOBE) Mobile No. 0925 711-4341 (SUN) TAYTAY-MANILA EAST
SUBIC Mobile No. 0925 802-9429 (SUN)
G/F Verde Oro East Plaza, Manila East Road, YLAYA TONDO
G/F Formosa Tower, Subic Commercial Taytay, Rizal No. 938 Ylaya Street, Tondo, Manila
SOLER TAFT-NAKPIL
& Light Industrial Park, Manila Avenue, Tel No. (02) 8633-9152 URDANETA
Le Mar Ben II Building, along San Bernardo Tel No. (02) 8521-6679, (02) 8521-6690
Subic Bay Freeport Zone, Zambales SM Lazo Clinics, Taft Avenue corner G/F S & P North Building, National Highway,
Street, Sta. Cruz, Manila Fax No. (02) 8633-9212 Fax No. (02) 8521-6679
Tel No. (047) 252-3431 Nakpil Street, Malate, Manila Brgy. Nancayasan, Urdaneta City, Pangasinan
Tel No. (02) 8733-2704, (02) 8733-2718 Tel No. Mobile No. 0925 714-7738 (SUN) Mobile No. 0917 811-5927 (GLOBE),
Fax No. (047) 252-6086 (02) 8405-0134 Tel No. (075) 568-2284,
Fax No. (02) 8733-2694 0925 311-2625 (SUN)
Mobile No. 0922 872-2097 (SUN) Fax No. (02) 8522-2322 (075) 656-8001-02
Mobile No. 0922 872-2161 (SUN), TAYTAY-ORTIGAS EXTENSION Fax No. (075) 568-2284
0917 886-5983 (GLOBE) Km. 23 Ortigas Avenue Extension, Taytay, ZAMBOANGA
SUCAT TAFT-VITO CRUZ Mobile No. 0922 872-2328 (SUN)
Rizal Veterans Avenue, Zamboanga City
SBC Building, Dr. A. Santos Avenue corner St. Unit 3, G/F 2 Torre Lorenzo Condominium
ST. IGNATIUS-KATIPUNAN Tel No. (02) 8658-0031, (02) 8658-0032 Tel No. (062) 991-0056, (062) 991-0183
Peter Street, Sucat, Parañaque City Building, 2444 Taft Avenue, Malate, Manila UST
No. 119 Katipunan Avenue, Quezon City Fax No. (02) 8660-2287 Fax No. (062) 993-2970
Tel No. (02) 8820-6269 Tel No. (02) 8521-0926, (02) 8241-0791 G/F Quadricentennial Pavillion,
Tel No. (02) 8709-7884, (02) 8709-3610, Mobile No. 0922 872-2215 (SUN) Mobile No. 0922 872-2147 (SUN)
Fax No. (02) 8825-3163 Fax No. (02) 8521-0926 UST Compound, España, Manila
(02) 8294-7511 Mobile No. 0922 872-2213 (SUN) Mobile No. 0925 878-9121 (SUN) Tel No. (02) 8749-9739, (02) 8731-3118
Fax No. (02) 8709-3610 TEKTITE TOWERS Fax No. (02) 8749-9703 ZAMBOANGA-CANELAR
Mobile No. 0932 854-7302 (SUN) TAGAYTAY G/F East Tektite Towers, Exchange Road, Mobile No. 0922 872-2163 (SUN) Mayor Jaldon Street, Brgy. Canelar,
Ortigas Center, Pasig City Zamboanga City
SBC Building, Aguinaldo Highway,
Mendez Crossing, Tagaytay City Tel No. (02) 8636-1653, (02) 8631-5854 Tel No. (062) 991-4914, (062) 992-1217
VALENZUELA
Tel No. (046) 413-1859 Fax No. (02) 8636-1655 Fax No. (062) 991-4914
Km. 14 McArthur Highway, Malinta,
Fax No. (02) 8529-8170 Mobile No. 0922 872-2050 (SUN) Mobile No. 0932 851-8478 (SUN)
Valenzuela City
Mobile No. 0922 872-2144 (SUN) Tel No. (02) 8292-1911
Fax No. (02) 8292-7311
Mobile No. 0922 872-2151 (SUN)

Products & Services Contact Us
GRI 102-3, 102-53
FOR BUSINESSES Leasing Services For Shareholder Information

Finance Lease Access our website www.securitybank.com for annual reports, quarterly results,
Investment Banking and Capital Markets Services Operating Lease financial highlights, company news and events.
Debt Capital Markets (Bonds, Enrolled Securities Sale and Leaseback
Corporate Notes, Commercial Papers) Lease Sublease For Shareholder Services
Equity Capital Markets (IPOs, Rights Offerings, Chattel Mortgage Facilities For inquiries regarding dividend payments, change of address, account status,
Follow-On Offerings, Preferred Shares Issues, REITs) lost or damaged stock certificates, please write or call:
Trade Services
Mergers and Acquisitions/Financial Advisory
Documentary Collection
Project Finance/Structured Finance Security Bank Corporation
Letters of Credit
Syndicated Loans Office of the Corporate Secretary
Open Account Arrangement
8th Floor, Security Bank Centre
Credit Facilities Remittance/Transfers
Ayala Avenue, Makati City
Bills Purchase Trust Receipts Financing
Tel. Nos. (632) 8888-7335 or (632) 8888-7215
Export Packing Credit
Cash Management Services
Floor Stock Financing Stock Transfer Service, Inc.
Collection Management Solutions
Omnibus Line 34th Floor, Rufino Pacific Tower
Disbursement Management Solutions
Purchase of Receivables 6784 Ayala Avenue, Makati City
Liquidity Management Solutions
Term Loans Tel. Nos. (632) 8403-2410 to 12
Working Capital Financing Treasury Services
Deposit-Based Products For Investor Relations
Structured Loan Facilities
Fixed Income Securities (PHP- and USD-Denominated Please call (632) 8888-7221 or email InvestorRelationsOffice@securitybank.com.ph
Contract to Sell Financing Facility
Government and Corporate Securities)
Distributors Financing
Foreign Exchange For Customer and Service Provider Relations
Trade Payables Financing
Foreign Exchange Risk Hedging Solution Please call (632) 8887-9188 or email CustomerService@securitybank.com.ph
Supply Chain Financing
Gold Hedging
Guarantees Interest Rate Risk Hedging Solution For Governance and Sustainability Concerns
Credit Line Certification Please call (632) 8888-7302 or email CorporateGovernance@securitybank.com.ph
Electronic Channels
Standby Letters of Credit
Cash 360 (Corporate Cash Acceptance Machine)
For Whistleblower Reporting
Security DigiBanker (Corporate Internet Banking)
Please email Speak_Up@securitybank.com.ph
For Inquiries and Comments

FOR INSTITUTIONAL AND INDIVIDUAL INVESTORS FOR CONSUMERS Please call our 24-hour customer service hotline at (632) 8887-9188, 1-800-1-888-1250
(Toll-free for PLDT landline) or email us at CustomerCare@securitybank.com.ph.
Unit Investment Trust Funds Consumer Loans
Unit Investment Trust Funds Auto Loans Security Bank Corporation is supervised by the Bangko Sentral ng Pilipinas (BSP)
• Peso-Denominated UITFs Home Loans with telephone number (632) 8708-7037 and email address consumeraffairs@bsp.gov.ph.
• U.S. Dollar-Denominated UITFs including Personal Loans
Feeder Funds Corporate Salary Loans and SALAD SECB 2019 Annual Report and the 2019 Audited Financial Statements may be accessed
Customized Portfolio Management Small Business Loans in the SBC website at www.securitybank.com, under the Investor Relations section.
• Employee Benefit/Retirement Fund Management To view the 2019 SECB Financial Statements and Supplementary Management
Credit Card
• Corporate and Personal Investment Discussion, copy or re-type the Bitly code below in your browser.
Security Bank MasterCard
Management Account
• Corporate Trust Account Pre-paid and Debit Cards Bitly URL: http://bit.ly/sbc2019ar
Directed Investments
• Corporate and Personal Investment Savings, Checking and Time Deposit Services
Management Account For smartphone users, you may also
Electronic Channels
• Personal Management Account scan the QR code to view the data.
Automated Teller Machine (ATM)
Other Fiduciary Services
Security Bank Chatbot
• Escrow Services
Security Bank Mobile App (iOS and Android)
• Corporate Agency Services
Security Bank Online (Retail Internet Banking)
—— Facility Agency
Security TeleBanker
—— Paying Agency To request for a soft copy of the Financial Statements, send an email to
—— Security Agency InvestorRelationsOffice@securitybank.com.ph
• Mortgage or Collateral Trust Services
Stock Brokerage Services

SECURITY BANK CENTRE
6776 Ayala Avenue, Makati City, 0719 Philippines

Tel Nos. (632) 8867.6788 • 8888.7800 • 8887.9188
www.securitybank.com

2019 Security Bank Annual Report

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2019 Security Bank Annual Report

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2019 Annual Financial

and Sustainability Report

that fits the different needs of our customers.

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118.3 PHP BN 147.0 PHP BN

DEAR STAKEHOLDERS, Consequently, book value per share improved from

Here and Now

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Since my appointment as President & CEO, I have expressed my excitement in

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Through our robust digital banking channels, hardworking teams and

PRESIDENT & CHIEF EXECUTIVE OFFICER

Retail Wholesale Financial Office Shared

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Our Mortgage Banking Group (MBG) partners with

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CORPORATE SALARY LOANS AND SALAD CREDIT CARDS

These achievements were brought about by bundling

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17% 46% With improved digital processes and solutions supported

In 2019, we set out to bolster our new-to-bank customer

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Branch Banking Group

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We deepen our relationships as we create value for

On March 12, 2019, the Republic of the

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SB EQUITIES  op Investment House for Commercial and

TRANSACTION BANKING GROUP

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TREASURY TRUST AND ASSET MANAGEMENT GROUP

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Several conferences and knowledge-sharing

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Our approach to ensuring sustainable growth is anchored on our BetterBanking

This commitment is supported by right behaviors and best practice standards.

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Engaging with Our Stakeholders

People • Integrity • Empowerment • Innovation • Execution Excellence

Stakeholders Mode of Engagement Frequency Concerns/Expectations Response

Sustainable Growth • Health advisories • Recognition: Outstanding

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8 Corruption 2 in the form of dividends; and to the disadvantaged sectors

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Value is even more directly shared through

A Conservative Dividend Policy enables

VOC is a process used to capture the customer’s expectations, preferences

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We are constantly improving our processes, technologies

CONSUMER DATA PROTECTION | DATA PRIVACY AND INFORMATION SECURITY

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We brought together our Security Bank political

Investor observers that have conferred Security Bank with awards

Company Excellence Awards held at JW Marriott Hotel

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With an informed market, Security Bank is better positioned to be

Construction 3.7% 3.7% 2018

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2019 Employee Distribution

<30-39 72 505 72 649

SB EQUITIES op Investment House for Commercial and

Sustainable Growth • Health advisories • Recognition: Outstanding